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Egypt is facing a serious issue as a result of the government’s inability to pay its debts to foreign partners in light of the poor economic situation.
Security forces detained three workers on charges of inciting strike
Cabinet announces price hike in natural gas starting May; party wary the price hike will do little to help Egypt’s energy crisis
To 19 billion cubic metres (bcm) annually from 16 bcm
Reuters – Egypt is considering buying liquefied natural gas from Russia, the country’s industry minister said on Wednesday. Egyptian industry and investment minister Mounir Fakhry Abdel Nour, on a visit to Moscow, did not give any other details. Egypt hopes to import more LNG during the summer months. Russia has only one LNG plant, located …
Reuters – Fitch Ratings says BG Energy Holdings Ltd, BP plc, Royal Dutch Shell plc and Total SA are among the rated oil and gas companies in EMEA that stand to gain from a potential shift in EU countries’ energy links with Russia over time, while OAO Gazprom and NJSC Naftogaz of Ukraine, are most …
Company plans to produce around 11.4bn cubic metres of gas from the 7 gas fields in the first phase of the Disouq Development Project
Reuters – Lebanon’s new energy minister said on Saturday the government should press forward with its first offshore gas licensing round without further delay and his ministry would not be held up by the country’s political problems. Beirut estimates it has some 96 trillion cubic feet (tcf) of natural gas reserves but political dysfunction has …
Reuters – BG Group has bought six liquefied natural gas (LNG) cargoes from Italian utility Enel as it seeks to replace lost supplies from its Egyptian operations. The British firm will take delivery of the cargoes from October, 2014 at Nigeria’s Bonny Island liquefaction plant, where Enel owns export capacity, according to trade sources. Oil and …
Reuters – Egypt’s hope of importing liquefied natural gas to stave off an energy crunch this summer may fall through after a Norwegian firm pulled out of a deal to install an LNG import terminal, sources with knowledge of talks between Cairo and the company said. If it fails to secure a means of importing LNG, Egypt would have …
Total’s leading role in building the $4.5bn Yemen LNG export plant in 2005-09 made it the largest foreign investor in the country, which is one of the poorest in the Arab world.
Gas pumped from the immense new Shah Deniz II field will travel across Azerbaijan and Georgia and across Turkey through a new Trans-Anatolian Pipeline, which is set to be a key part of the Southern Gas Corridor from the Caspian Sea to Turkey and the EU.
Reuters – Iran said on Friday it would soon unveil a more attractive model of contract aimed at persuading international energy companies to invest in its huge though underdeveloped, oil and gas reserves. Ali Majedi, deputy oil minister in charge of international affairs, told his ministry’s Shana news agency that the government would soon complete …
Gas production is still estimated to exceed consumption at 5.31 bcf/day versus 4.95 bcf/day, a ministry source said.
PGNiG has been looking for new sources of natural gas as Poland seeks to diversify away from Russian supplies.
Reuters – The United Arab Emirates, a Gulf OPEC oil producer, said it was looking at the possibility of importing natural gas from North America, in what would be one of the most striking developments since the start of the US shale boom. The United States and Canada are producing record amounts of gas from …
Reuters – Orascom Construction Industries has suspended payment of a 31 December instalment of an EGP 7.1bn ($1.02bn) tax settlement with Egypt’s government, its Amsterdam-listed parent company OCI NV said on Wednesday. The settlement was agreed last April, when Islamist President Mohamed Morsi was still in office, and related to claims the company had failed …
Exploration companies have been hesitant to develop untapped gas finds in Egyptian waters partly because the amount the government pays them barely covers their investment costs.
The deals are with firms including BP, Dana Gas Emirati, Petroceltic International, and Sea Dragon Energy.
BP has already spent hundreds of millions of dollars on the project since winning the concession in 2007.
Sources revealed that EGAS negotiated with Shell and other companies to import between 500 and 750 million ft3of gas per day to cover the electricity power stations’ needs.
State-owned Egyptian Natural Gas Holding Company (EGAS) plans to launch an international tender for deep water gas exploration next year
The government is studying alternatives to gas usage, investments with foreign companies and is seeking to build wind farms for electricity production.
The head of ENNPI signed contract of Venezuelan gas project
With a seven-gas-fields project, the company aims to produce 4 million cubic metres per day.
BP discovers gas in Salamat well in the East Nile Delta
Infrastructure has regularly been targeted in Syria since the March 2011 start of the country’s conflict.
Hair and blood samples given to the United States from emergency workers on the scene of last month’s attack in the Syrian capital have showed signs of the powerful sarin nerve gas, Kerry told NBC and CNN television.
Recent political developments in Egypt have negatively impacted bilateral ties with Qatar.
Chairman of the Egyptian Natural Gas Holding Company : EGAS received a letter from Qatar early Tuesday morning explaining the latter’s inability to send the remaining shipments due to recently decreased production capacities