ENGIE Official: Egypt Can Be A Regional Energy Hub
An official from leading French energy multinational ENGIE has said that Egypt can achieve its goals of becoming a regional energy hub.
An official from leading French energy multinational ENGIE has said that Egypt can achieve its goals of becoming a regional energy hub.
The Ministry of Petroleum has connected houses in six different areas to the national gas grid since the beginning of July 2018.
The Ministry of Petroleum is looking into constructing a petrochemical and refining facility in New El Alamein City.
Shareholders of Israeli energy company Delek Drilling have agreed to invest in the East Mediterranean Gas Company (EMG), the owner of the pipeline linking gas fields in Israel to Egyptian export terminals.
Eni has denied media reports that the company has discovered a new gas field in the eastern Mediterranean.
Egypt produced around 24.6 million tons of natural gas during the first four months of 2018.
Egypt may stop importing liquefied natural gas (LNG) by Q4 2018 and start exporting it at the beginning of 2019.
ENi CEO Claudio Descalzi said that the company is investing a further $3 billion into the sector on top of the $8.4 billion it is already investing.
Eni has sold a 10% stake in Egypt's Shorouk offshore concession to Mubadala Petroleum for more than $1 billion.
Spain’s Gas Natural Fenosa has signed an agreement with Algeria’s Sonatrach that will extend their gas purchase contracts until 2030.