The Central Bank of Egypt (CBE) will offer 5% interest loans to encourage car owners to transform their vehicles to natural gas-powered or mixed-fueled cars, running with both natural gas and gasoline
ENOC Group signed a JV agreement with Proserv Egypt in order to establish ENOC Misr, ENOC Group's first on-ground operations in Egypt's lubricants sector.
ACWA Power and the Ministry of Petroleum and Mineral Resources agreed to pay $90 million to deliver natural gas through a pipeline connected to the company's electric power plant in Luxor.
The results of geophysical data collection in the Red Sea, conducted by Schlumberger and Ganope, revealed gas discoveries probabilities exceeding 70% as per a seismic survey.
The company plans to file an arbitration case as EGPC breached obligations in several gas sales agreements and was not able to pay its debts in time.
The MoP agreed with its foreign partners to compensate for the plant's halting period by deducting amounts from EGAS' profits from the plants re-operations.
The wind farm is expected to help Egypt achieve its targets for renewable energy under the Build Own Operate (BOO) scheme
The project has a total storage capacity of 222,000 cubic meters in Sidi Krir and will be re-exported to European Markets.
The rate of cars shifting to natural gas increased to 2,500 vehicles per month
The company collected seismic data that revealed natural gas reserves up to 20 trillion cubic feet, which will make it second to the Zohr mega field in production.
