By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
    CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
    September 30, 2023
    CBE Governor discusses cooperation with China Development Bank in Beijing
    CBE Governor discusses cooperation with China Development Bank in Beijing
    September 30, 2023
    eSIM technology to be tested by mobile operators in Egypt soon
    eSIM technology to be tested by mobile operators in Egypt soon
    September 30, 2023
    GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
    GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
    September 30, 2023
    Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson
    Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson
    September 30, 2023
  • Politics
    PoliticsShow More
    Israeli army kills Palestinian in West Bank
    Israeli army kills Palestinian in West Bank
    October 1, 2023
    Aswan Forum Secretariat ‘CCCPA’ briefs UN Country Team on upcoming edition
    Aswan Forum Secretariat ‘CCCPA’ briefs UN Country Team on upcoming edition
    September 30, 2023
    Egypt marks 20 years of United Nations Convention against Transnational Organized Crime
    Egypt marks 20 years of United Nations Convention against Transnational Organized Crime
    September 30, 2023
    Al-Sisi urges Egyptians to vote for change in upcoming elections
    Al-Sisi urges Egyptians to vote for change in upcoming elections
    September 30, 2023
    UN to send mission to Nagorno-Karabakh: Spokesperson
    UN to send mission to Nagorno-Karabakh: Spokesperson
    September 30, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: EGAS to rent gasification ship located in Jordan with 500m cubic feet capacity
Share
Notification
Latest News
Israeli army kills Palestinian in West Bank
Israeli army kills Palestinian in West Bank
Politics Region
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
Business
CBE Governor discusses cooperation with China Development Bank in Beijing
CBE Governor discusses cooperation with China Development Bank in Beijing
Business
eSIM technology to be tested by mobile operators in Egypt soon
eSIM technology to be tested by mobile operators in Egypt soon
Business
GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > EGAS to rent gasification ship located in Jordan with 500m cubic feet capacity
Business

EGAS to rent gasification ship located in Jordan with 500m cubic feet capacity

Mohamed Adel
Last updated: 2016/05/16 at 7:32 PM
By Mohamed Adel 4 Min Read
Share
EGAS has completed the technical and financial evaluation of the offers from companies applying for the tender to supply the second gasification ship (AFP photo)
SHARE

The Egyptian Natural Gas Holding Company (EGAS) plans to rent a gasification ship located in Jordan with a capacity of 500m cubic feet of gas daily and to host it in a private port controlled by SUMED in Ain Sokhna in 2017.

A prominent official at EGAS told Daily News Egypt that Egypt has contracted to rent about 200m cubic feet of gas from the full capacity of the gasification ship in Jordan since the end of 2015.

He added that Egypt received quantities estimated at approximately 200m cubic feet of gas daily through the pipeline coming from Jordan last summer.

The official mentioned the re-opening of the gas pipeline between Egypt and Jordan and the import of 200m cubic feet per day to meet summer’s fuel requirements for power plants.

According to a statement by the Ministry of Petroleum on Monday, a memorandum of understanding (MOU) was signed with Jordan to benefit from the excess capacity of the gasification ship in Aqaba.

The memorandum was signed by chairperson of Jordanian-Egyptian Fajr for Natural Gas Transmission and Supply Fouad Rashad and the general manager of the Jordanian National Electric Power Company, Abdel Fattah Al-Daradkeh. The step came in pursuance of the Jordanian Cabinet’s decision stipulating cooperation in the use of surplus capacity.

The chairperson of EGAS, Mohammed El-Masry, travelled to Jordan last week to negotiate on renting their gasification ship.

EGAS raised imports of gas to about1bn cubic feet per day through the two gasification ships at Ain Sokhna port, instead of the 850m cubic feet in the past week.

The official said the factor controlling the supply of the imported gas quantities is the availability of the liquidity necessary to pay their value regularly, adding that the Egyptian General Petroleum Corporation is in continuous coordination with the Central Bank of Egypt to allocate the monthly expenses of imports.

He estimated the monthly gas import bill at $250m to supply about 1.2bn cubic feet gas monthly to the domestic market.

The official pointed out that the direction to provide a third ship to work alongside with the two ships located in Ain Sokhna area will enable Egypt to receive nearly 2bn cubic feet of gas daily. This will guarantee the stability of supplies for industry and electricity without problems, especially after allowing the private sector to import natural gas and execute many projects in the fields of steel and petrochemicals over the next few years, which will increase Egypt’s requirements for natural gas.

He explained that according to studies conducted by specialised institutions, Egypt can achieve self-sufficiency in natural gas by 2022. Therefore, imports will continue over the next five years to overcome the gap between the local production and consumption.

Egypt currently has two gasification ships in the Ain Sokhna area, each with a capacity of 500m cubic feet daily.

 

 

You Might Also Like

CBE Deputy Governor, Swiss State Secretary discuss economic cooperation

CBE Governor discusses cooperation with China Development Bank in Beijing

eSIM technology to be tested by mobile operators in Egypt soon

GAFI plans to set up financial service center in New Capital with Emirati-South African alliance

Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson

TAGGED: ain sokhna, EGAS, gasification ship, jordan
Share this Article
Facebook Twitter Email Print
Previous Article Maat calls on cabinet to interfere, follow up on ministry performance with NGOs
Next Article Prime Minister Sherif Ismail Cabinet approves press and media draft law, awaiting parliament vote
1 Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Israeli army kills Palestinian in West Bank
Israeli army kills Palestinian in West Bank
Politics Region
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
Business
CBE Governor discusses cooperation with China Development Bank in Beijing
CBE Governor discusses cooperation with China Development Bank in Beijing
Business
eSIM technology to be tested by mobile operators in Egypt soon
eSIM technology to be tested by mobile operators in Egypt soon
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?