Latest in Tag: Gas Highlight

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Latest in Tag: Gas


Gas production in first four months of this year amounted to 24.6m tonnes

Osama El Bakly, chairperson of the Egyptian Natural Gas Holding Company (EGAS), said that production of gas in the first four months of 2018 reached about 24.6m tonnes. El Bakly told Daily News Egypt that the volume of natural gas consumption reached 24.9m tonnes, whereby the household, electricity, and industry sector account for most of …

Mohamed Farag

Parliament approves oil, gas exploration agreement in North Sinai maritime zones

The Egyptian Parliament’s energy committee approved an agreement for oil and gas exploration in the North Sinai maritime concession area (NOOR) in the Mediterranean Sea. The deal is between the Italian company Eni and the Egyptian Natural Gas Holding Company (EGAS). MP ElSayed Hegazy, a member of parliament’s energy committee, told Daily News Egypt that …

Mohamed Farag

EGAS aims to increase revenues to EGP 2bn next year

The chairperson and managing director of the Egyptian Natural Gas Holding Company (EGAS), Yasser Salah El-Din, said that the company aims to increase its civil and mechanical works to EGP 250m and increase the company’s total revenues to EGP 2bn in 2018/2019. That is a targeted increase in annual business value estimated at EGP 300m. …

Sara Ibrahim

Israeli gas imports suspension lawsuit: Another stumbling block to Egypt’s energy hub aspirations

Cairo Administrative Court referred on Tuesday a lawsuit demanding the suspension of the approval of natural gas imports from Israel, for violating the Egyptian Constitution and Law No 196 of 2017 regulating the gas market to the State Council Commissioner Authority (SCCA). The lawsuit alleges that allowing natural gas imports from the “Zionist entity” endangers …

Mohamed Samir

Yorktown to sell Egypt-based oil, gas company Merlon International

The New York-based private equity firm Yorktown Partners is reportedly planning to sell its Egypt-focused oil and gas company Merlon International, Reuters reported on Saturday. According to the reports, the firm aims to raise up to $400m, and the sale will be run by Citigroup, with expected bids planned to be concluded by July. Merlon …

Mohamed Samir

Eastern Mediterranean gas hub: source for regional harmony or dissension 

The Eastern Mediterranean region has become a hotspot of international energy discussions in the last decade, following a series of large-scale gas discoveries off the coasts of Egypt, Cyprus, and Israel. To utilise such potential, with confirmed reserves of about 2,000bn cubic metres (bcm) of gas, plenty of export and regional cooperation scenarios are being …

Mohamed Samir

Petroleum Ministry aims to increase gas production by 19.53%

The Ministry of Petroleum is aiming to increase the average production of Egypt’s natural gas during this fiscal year by 19.53%, to reach 5.342bn cubic feet of natural gas daily, compared to 4.469bn cubic feet of gas daily throughout the past fiscal year 2016/2017, according to data from the ministry. Data reveals that the ministry …

Ahmed Ismail

EGYPS 2018, North Africa’s largest oil, gas industry platform to begin February 

EGYPS 2018, North Africa’s largest oil & gas industry platform is scheduled to kickstart in February, in its second annual edition, under the patronage of President Abdel Fattah Al-Sisi. The platform aims to bring together the region’s key stakeholders shaping the energy industry’s future. “With abundant resources, some of the most competitive production costs worldwide, …

Daily News Egypt

First gas import license to be granted in 2018

An official source at the Ministry of Petroleum and Mineral Resources said that the executive regulation of the gas market regulation law is expected to be completed within the next month. According to the source, the members of the Natural Gas Market Regulatory Authority will be announced next month, while next month will also see …

Ahmed Ismail

Egypt to stop importing gas by end-2018: EGAS

According to Vice President of the Egyptian Natural Gas Holding Company (EGAS) Magdy Galal, the company aims to stop importing liquefied natural gas from abroad by the end of next year. According to Galal, the Ministry of Petroleum owns the bulk structure that qualifies Egypt to become a regional energy hub. It owns the Sumed …

Ahmed Ismail

850bn cubic metre gas reserves in Zohr field 

Zohr, a natural gas field,  is the largest discovered field in Egypt and the Mediterranean Sea, with gas reserves estimated at 850bn cubic meters, according to Eni Company. The Zohr gas field is an offshore natural gas field located in the Egyptian sector of the Mediterranean Sea. The field is located in the Shorouk concession, …

Daily News Egypt

Zohr field investments amount to $16bn

Minister of Petroleum and Mineral Resources Tarek El Molla said that the development of the Zohr field in the Shorouk concession area in the Mediterranean is proceeding well according to the plan. The project’s plan aims to produce about one billion cubic feet of gas per day in the first stage by the end of …

Daily News Egypt