gas
This development is poised to significantly reduce Egypt’s import bill and boost natural gas exports.
Minister of Petroleum Karim met with British Petroleum’s Executive Vice President for Gas and Low Carbon Energy William Lynn on Wednesday to discuss the drilling of two new gas wells in the second phase of the Reven project and the exploratory drilling program in the Mediterranean.
The media center of the Cabinet clarified that the current prices for natural gas, which have been in place since September, will remain unchanged.
President Abdel Fatah El-Sisi received Monday CEO of ENI Claudio Descalzi.
Minister of Petroleum, Karim Badawi, stated that these MoUs are designed to attract investments through the Egypt Exploration and Production Gateway, promoting available opportunities in the sector.
The Egyptian Natural Gas Holding Company (EGAS) signed a shareholders' agreement with Greek Copelouzos Group to establish a joint venture company based in Greece for trading, transportation, supplying, and re-gasification of natural gas in Eastern European countries and Greece.
This production increase aligns with the government’s commitment to settle arrears owed to foreign oil companies before the fiscal year ends, encouraging these companies to ramp up drilling activities and accelerate the development of gas fields.
Badawi affirmed his confidence in the state’s potential to achieve its objectives in maximizing the utilization of natural resources, aiming to solidify Egypt’s position as a regional energy hub.
This partnership, as disclosed to The Egyptian Competition Authority (ECA), is aimed at exploring, extracting, and marketing natural gas and condensates from designated fields in Egypt.
The Egyptian state seeks to establish the country as a regional center for trading and exporting gas and energy in the Eastern Mediterranean region.
The decision aligns with the recent visit of Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, to Italy, aimed at strengthening collaboration between Egypt and Eni.
Minister of Petroleum and Mineral Resources, Karim Badawi, has reached an agreement with foreign collaborators in Egypt to hasten the development schemes for the concession areas.
The objective of this unit is to receive liquefied gas deliveries, convert them to gas, and integrate them into the national grid.
Egyptian Minister of Petroleum and Mineral Resources Eng. Karim Badawi, met Wednesday with new Iraqi Ambassador to Cairo Dr. Qahtan Taha Khalaf, where both discussed ways of enhancing joint cooperation in the fields of oil and gas.
This move aims to integrate additional wells into the production system in the upcoming months, as per the source.
Both nations are currently engaged in studies for the joint procurement of a gasification vessel to meet their import requirements.
The official has affirmed that Egypt will recurrently release bids for gas imports until local production rebounds.
President Sisi commended the company's work in the country over the past three decades.
These upcoming LNG shipments serve as a notable addition to the existing stock of LNG already received by the Egyptian Natural Gas Holding Company (EGAS).
This significant increase in investment and the prospect of drilling new wells were discussed during the Eni delegation’s visit to Egypt.
