RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-12-04 12:15:00

LNG FOR EGYPT

LNG FOR EGYPT

ENERDATA 3 Dec 2020 - The government of Egypt, the Egyptian General Petroleum Corporation (EGPC), and the Egyptian Natural Gas Holding Company (EGAS) have reached an agreement with the Italian and Spanish gas groups Eni and Naturgy to restart the 7.56 bcm/year (5.6 Mt/year) Damietta gas liquefaction plant in northern Egypt, which has been idle since November 2012. The LNG plant is due to restart operations in the first quarter of 2021.

As part the of the agreement, which is similar to a previous deal signed in February 2020, Union Fenosa Gas (UFG, a 50:50 joint venture between Eni and Naturgy) will be dissolved and its 80% stake in Damietta LNG will be split between Eni (50%) and EGAS (30%). Consequently, the share of Eni in Damietta LNG will rise from 40% to 50%, that of EGAS from 10% to 40% and that of EGPC will remain stable at 10%. Naturgy will thus exit assets in Egypt and will receive US$600m (against US$300m under the precedent agreement) in cash, and UFG’s assets outside Egypt (except in Spain). Eni will ensure the supply in natural gas to the plant, having obtained liquefaction rights of 3.78 bcm/year (2.8 Mt/year).

Egypt is seeking to become an energy hub in the eastern Mediterranean. The discovery of the giant Zohr gas field by Eni in August 2015 (estimated gas reserves of 850 bcm) and its start in December 2017 contributed to relaunch domestic gas production that had been declining since 2009 and revived the interest in Egypt's energy resources. In January 2020, ExxonMobil signed two agreements to launch oil and gas exploration in the Egyptian part of the Mediterranean Sea.

-----


Earlier:

LNG FOR EGYPT
2020, November, 25, 11:45:00
AUSTRALIA'S SANTOS LNG UP
Santos, along with Australia's other east coast LNG projects Australia Pacific LNG and Queensland Curtis LNG, have come under pressure from the federal government in recent years to ensure domestic supply amid concerns of shortages since the development of the export projects.
LNG FOR EGYPT
2020, November, 20, 13:15:00
AUSTRALIA'S LNG FOR CHINA DOWN
Australian gas exporters argue that their projects are not contingent on Chinese buyers in a growing Asian market.
LNG FOR EGYPT
2020, November, 16, 12:35:00
QATAR LNG WILL UP
Qatar currently has an LNG production capacity of some 77 million mt/year, but has plans to boost it to 110 million mt/year by 2025 with the addition of four more trains and to 126 million mt/year by 2027 with the addition of two further trains.
LNG FOR EGYPT
2020, November, 11, 14:25:00
JAPAN LNG PRICES UP
The average contract price for spot LNG cargoes shipped to Japan in October rose to $6 per million British thermal units (mmBtu)
LNG FOR EGYPT
2020, November, 10, 11:10:00
LNG SUPPLIES WILL DOWN
"Global LNG supply will be moving from sufficient to tight in the next five years, with supply-demand differential falling from 200 Bcm in 2020 to 50 Bcm in 2025,"
LNG FOR EGYPT
2020, November, 10, 11:05:00
LNG ZERO EMISSIONS
Total recently shipped its first carbon-neutral LNG cargo sourced from Australia’s Ichthys LNG to CNOOC. The emissions created by the LNG cargo were offset by carbon credits procured through investments in wind energy and forest protection projects.
All Publications »
Tags: LNG, GAS, EGYPT,
Chronicle:
LNG FOR EGYPT
2021, October, 26, 13:04:00
4-ЫЙ ЕЖЕГОДНЫЙ МЕЖДУНАРОДНЫЙ САММИТ И ВЫСТАВКА: ЭНЕРГИЯ БАЛКАН
Более 250 глав министерств, ключевых инвесторов, руководителей ведущих гидроэлектростанций и инициаторов инвестиционных проектов соберутся на 4-ом ежегодном международном саммите и выставке: Энергия Балкан
LNG FOR EGYPT
2021, October, 26, 13:03:00
МЕЖДУНАРОДНАЯ КОНФЕРЕНЦИЯ И ВЫСТАВКА "УГОЛЬ РОССИЯ И СНГ"
Лидеры угольной индустрии России и стран СНГ выступят с докладами в деловой программе Международной конференции и выставки «Уголь Россия и СНГ» (16-17 ноября, Москва).
LNG FOR EGYPT
2021, October, 26, 13:02:00
LEARN THE LATEST GLOBAL LNG TRENDS WITH LNGCON 2022
The next edition of the International LNG Congress (LNGCON 2022) takes place in Dusseldorf, Germany on March 28-30, 2022. Covering the whole LNG value chain, the Congress brings together decision makers of the industry to tackle the most relevant issues such as the role of LNG in the transition towards zero-carbon shipping.
LNG FOR EGYPT
2021, October, 26, 13:00:00
CHINA ZERO EMISSIONS 2060
As of end-2020, China had nearly 282 GW of installed wind capacity, and over 253 GW of solar capacity.
LNG FOR EGYPT
2021, October, 26, 12:55:00
AUSTRALIA ZERO EMISSIONS 2050
Australia's adoption of a net zero emissions target is significant as it is one of the largest producers and exporters of fossil fuels and falling in line with the UN mandated net zero pledge would signal there could be tighter regulations on emissions reduction.
LNG FOR EGYPT
2021, October, 25, 12:30:00
OIL PRICE: ABOVE $86
Brent increased 56 cents, or 0.7%, to $86.09 a barrel, WTI rose 62 cents, or 0.7%, to $84.38 a barrel.
LNG FOR EGYPT
2021, October, 25, 12:25:00
RUSSIA'S CLOSED NUCLEAR CYCLE
Known as ROSA-N, the new model was developed by scientists in Rosatom's Proryv (Breakthrough) project, which works towards deployment of fast reactors and a closed nuclear fuel cycle.
All Publications »