He added that the World Bank has set a ten-term condition, the most prominent of which is increasing the tariff price. He noted that Lebanon already has formulated how the new tariff will cover the expenses.
The official spokesman for the Council of Ministers, Nader Saad, said that the government agencies are committed to measures to rationalize electricity, and accordingly, the lights are turned off after the end of official working hours.
Current production from Zohr gas field hiked to 2.7 billion cubic meters per day, added the ministry Mondayز
The Cabinet said in a statement, Thursday, that the project is being built within the framework of the trend towards expediting the exploratory operations in the "Northeast of Al-Arish" offshore area.
The Central Agency for Public Mobilization and Statistics (CAPMAS) released a statement Tuesday detailing the exports, whose value declined in May 2022.
The government is currently working on investing in the most important resource it owns, which is natural gas, to which huge investments have been directed in the past,” Prime Minister Mostafa Madbouli said on Tuesday.
Minister of Foreign Affairs Sameh Shokry stated in a phone-in Saturday that the recent visits of President Abdel Fatah al-Sisi to several states reflect Egypt's keenness on persistent coordination with partners on all levels.
Under the agreement, the gas will be pumped through a pipeline to the Deir Ammar power station in northern Lebanon, where it can add about 450 megawatts to the grid, equivalent to about four additional hours of electricity per day.
Chevron Corporation, which is an American multinational energy corporation, plans to drill its first exploration well in its concession area in the Mediterranean Sea next September.
Minister of Foreign Affairs Sameh Shokry met Monday with President of the European Investment Bank Werner Hoyer within his visit to Luxembourg.
The agreement will then be an umbrella for a new set of agreements, the minister said.
The deal would ease the electricity crisis that the Lebanese people are suffering from.
The spokesperson added that Egypt has all the facilities that enable it to receive Israeli gas and then liquefy it before exporting it to Europe, pointing out that the memorandum of understanding confirms that there is interest from the European Union to increase cooperation with Egypt in the field of energy.
The Egyptian Electricity Holding Company and GE Gas Power signed Wednesday two agreements of cooperation on reducing carbon emissions.
Chairman of the General Authority for Free Zones and Investment (GAFI) Mohamed Abdel Wahab held a series of meetings in Qatar Monday to discuss new projects as well as existing ones.
The interview covered the food and energy crises ensued from the Russia-Ukraine War.
European Union Ambassador to Cairo Christian Berger said Tuesday that the union supports Egypt to become a major hub of energy in the Middle East, North Africa, and Mediterranean.
Natural gas will be also delivered to 1,185 villages after the completion of the sanitary servicing works, the ministry noted in a statement on Monday.
The agreement aims to promote Egyptian gas export to Europe, and specifically to Italy, in the context of the transition to a low carbon economy.
These new discoveries have already been connected and tied into production, in line with the Infrastructure-led exploration strategy, allowing to maximize exploration opportunities nearby existing infrastructures.