News / Egypt
Egypt Responsible for LNG Price Increase
Asian liquefied natural gas (LNG) prices for December delivery rose this week as traders and energy companies moved to fill slots awarded to Egypt recently, reported Egypt Independent.
Egypt to Rent 3rd FSRU By 2017
Reuters reported that Egypt is planning to rent a third floating storage and regasification unit (FSRU) late 2016 or early in 2017, in an effort to deal with gas shortage.
North Alexandria Concession to Begin Production Early 2017
Egypt Oil & gas learned that British Petroleum (BP) will begin production at its North Alexandria concession early 2017, rather than mid-2017, as originally planned.
Tarek El Molla: No Truth to Increase in Fuel Prices
During a press conference at the ministry of petroleum, Tarek El Molla, Minister of Petroleum and Mineral Resources, confirmed that there will be no decrease in subsidies of petroleum products, reported Egypt Oil & Gas.
Khaled Abdel Badie: Egypt Will Not Obtain a 4th FSRU
Khaled Abdel Badie, Chairman of EGAS, explained that while originally Egypt planned to rent a fourth Fuel Storage and Regasification Unit (FSRU), the Shorouk discovery has deemed the move unnecessary, reported Egypt Oil & Gas. Tarek El Molla: Egypt to Issue New Bid Rounds Soon
Tarek El Molla, Minister of Petroleum and Mineral Resources, said that the ministry plans to issue several bid rounds for exploration throughout the year, by EGAS, EGPC, and Ganoub El Wadi petroleum holding company, reported Egypt Oil & Gas.
Tarek El Molla: Egypt to Continue Gas Imports for 5 Years
Tarel El Molla, Minister of Petroleum and Mineral Resources, said that that petroleum sector continues importing natural gas for the coming 5 years to meet the needs of electricity, and the local market, reported Egypt Oil & Gas.
Egypt to Renegotiate Contracts with IOCs
Tarek El Molla, Minister of Petroleum and Mineral Resources, said that the ministry aims to renegotiate the current contracts with IOCs, in order to achieve economic balance between the foreign investor and state companies, reported Egypt Oil & Gas.
