gas | Egypt Oil & Gas - Part 27
Egypt’s Ministry of Petroleum Begins New Strategy
Egypt's Ministry of Petroleum has a new strategy for reducing imports, adding value to Egyptian products and making Egypt an energy hub in the Middle East, a source in the Ministry told Egypt Oil and Gas.
NBE and Gas Firm Reach $32m Debt Settlement
The National Bank of Egypt and an undisclosed gas company reached a $32m debt settlement agreement to be repaid over the next 8 years.
Ukraine to Purchase French Gas, Replacing Russian
The International Finance Corporation (IFC) from the World Bank group would provide a trade finance credit of up to $200m to Ukraine's national oil and gas company Naftogaz for it to acquire natural gas from France's ...
Turkmenistan Commissions East-West Gas Pipeline
Turkmenistan has commissioned its East-West gas pipeline worth $2.5b with a capacity of 30bcm/year connecting abundant gas fields in the Caspian Sea with an aim to improve the country's gas export efficiency.
Drilling Begins at Zohr Field
ENI has begun drilling at Egypt's Mediterranean Zohr field. The company is expected to invest $12b in 20 wells to be completed over 26 months.
Ezz Steel Records $71m Net Loss between January and September
Ezz Steel, Egypt’s largest steel producer had a net loss of EGP 559.1m ($71.4m) between January and September 2015 due to currency and energy shortages.
EGAS: Gas Fulfillments to Fertilizer Plants Return to 100%
EGAS announced that the gas capacity pumped to fertilizer plants has been restored to 100% of fulfillment of contractual obligations, after dropping to 85% due to reduced capacity in the national gas network.
Tanzania Attracts Investors over Gas-to-Power Project
Several potential investors have shown strong interest in 600 MW gas-to-power project in Mtwara, Tanzania, run by a US-based Company, Symbion Power.
