On the sidelines of the Africa Investment Forum 2019, held under the patronage of Egyptian President Abdel Fattah El Sisi, the Minister of Investment and International Cooperation, Sahar Nasr, inked a financing ag ...
The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) have agreed to pay $500 million to settle a dispute with Israel Electric Corporation.
The Cypriot House of Representatives approved the agreement between Egypt and Cyprus to establish a natural gas subsea pipeline between the two countries.
Companies involved in the $15 billion gas deal revealed the issues in the pipeline will need more work than what was initially planned to start transporting natural gas.
The agreement was signed in Nicosia in September 2018 in order to facilitate natural gas delivery from Cyprus to Egypt's liquefaction plants in Idku and Damietta.
The pipeline system will feature a manifold for distributing Ethylene Oxide and Propylene Oxide to a number of PlasChem Park tenants.
The partnership will result in around $4 billion to ADNOC and is expected to close in Q3 2019.
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 agreement aims to facilitate exporting natural gas from Cyprus to Egyptian liquefaction plants, Idku and Damietta.
Israel's domestic pipeline infrastructure reportedly does not have the capacity to transfer the contracted quantities of natural gas from the Tamar and Leviathan fields to Egypt.
