Natural Gas
For businesses located outside of the free zones, the cost of natural gas will still be calculated in Egyptian pounds.
Egyptian Prime Minister Mostafa Madbouly held a press conference Wednesday, where he addressed different concerns, especially Egypt’s stance regarding the Ethiopia’s announcement of completing the construction of the Grand Renaissance Dam (GERD).
Mohamed disclosed the allocation of five new regions for investing in the exploration of natural gas in the Mediterranean Sea and the Nile Delta, necessitating around $400 million.
The Egyptian General Petroleum Corporation (EGPC) granted the contract through a six-month deferred payment arrangement.
Soaring power demands and operational challenges have led to Egypt’s natural gas (NatGas) production levels to plummet to its lowest levels in over 6 years, according to data from the Joint Organizations Data Initiative (JODI)
The repayment schedule will follow a prearranged agreement between the government and its international partners
A total of 41 villages in Al-Husseiniyah Center in Al-Sharqiyah Governorate, in Delta, will be supplied with natural gas as part of the "Haya Karima" nation-wide developmental initiative.
"COP 27 in Sharm El Sheikh was a wonderful host and a step towards addressing climate change, accelerating energy transition, and contributing to the close partnership with Egypt in dealing with the energy sector,” Jørgensen stated.
MSMEDA also pumped LE 1.8 billion to enhance the automotive feeding and supply chain industries, according to its CEO.
Representatives from the Egyptian Natural Gas Holding Company (EGAS) and Jordan's National Electric Power Company (NEPCO) signed the first agreement
The EU received supplies from 27 countries, with the share of LNG exceeding that of natural gas delivered through pipelines for the first time.
The minister elaborated that Italy wants to establish an energy hub in Europe in cooperation with other Mediterranean states.
President Abdel Fatah al-Sisi met Sunday with Italian Minister of Foreign Affairs Antonio Tajani
This comes less than a week after the announcement of a gas discovery in Egypt by the German company Wintershall Dea, on Thursday, Jan. 12, in one of its concession areas in the Nile Delta.
Egyptian Finance Minister Mohamed Maeet said the state works on increasing the number of beneficiaries of the presidential initiative aiming at replacing gasoline-powered vehicles that are manufactured 20 years ago by natural gas-operated ones.
This came during a meeting with the Minister of Petroleum, Walid Fayyad, the Lebanese Minister of Energy and Water, who is currently visiting Cairo, according to a statement from the Ministry of Petroleum, Monday.
The government has implemented a plan to rationalize electricity consumption in order to provide natural gas used in the stations in order to export it abroad in light of the high global prices.
The ministry is modernizing the fleet of the public transport in Cairo and Alexandria to operate using natural gas instead of diesel, in partnership with Ministry of Military Production.
The plan aims to achieve the economic optimum benefit from Egypt’s wealth of natural gas, and to maximize the added value thereof.
The concession area is located about 20 kilometers west of the Raven field in the Mediterranean Sea, with an area of about 2,600 square kilometers, at a depth ranging between 500 and 2,000 meters.
