Eni reaches agreement with partners for restart of LNG plant in Damietta, Egypt
Eni reaches an agreement with its partners for the restart of the liquefied natural gas plant in Damietta, Egypt and for the amicable settlement of disputes related to Union Fenosa Gas Today’s agreements, which are in line with the ones finalized last February and take into account the evolution of the energy scenario, allow to […]
Benban solar developers get reduced cost-sharing bill
Benban solar developers get a break: The Egyptian Electricity Transmission Company (EETC) has signed an agreement with 32 solar developers operating at the Benban plant that will cut their cost-sharing bill by EGP 300 mn to EGP 1.6 bn, the local press reports, citing unnamed sources familiar with the matter. The agreement, which was first […]
Bechtel set to land Master Contract for Cairo Metro Line Six
Bechtel in pole position to snag master contract for Cairo Metro Line Six, Transport Minister Kamel El Wazir said yesterday at an AmCham event, according to a report by Reuters’ Patrick Werr. On the fast track: El Wazir said his ministry is “working on a memorandum of understanding with Bechtel for feasibility studies and implementation […]
TAQA Arabia’s IPO in the EGX “not in the near future” – sources
Qalaa Holdings’ TAQA Arabia won’t be making its EGX debut in the near future due to the potential for market volatility caused by the pandemic, the local press reported yesterday, quoting sources close to the matter. Qalaa had reportedly planned to list 30-40% of its portfolio company in the first half of 2020. The company […]
TechnipFMC starts EPC work on ANOPC’s new Hydrocracking Complex
TechnipFMC commences work on the New Hydrocracking Complex in Egypt for Assiut National Oil Processing Company (ANOPC) TechnipFMC has successfully completed the remaining conditions required to enable work to commence on the Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the […]
EMG gas pipeline faces ownership change as Delek plans LSE spin-off
Delek Drilling to transfer ownership in Israel-Egypt gas pipeline to new company as part of LSE spin-off plan: Delek Drilling, one of the main operators of Israel’s large offshore gas fields, is planning to spin off most of its assets into a new company it will IPO on the London Stock Exchange, according to a […]
Egypt’s Fuel Subsidies fall by 46% in Q1 FY 2020-2021
Public spending on fuel subsidies continues to fall in FY2020-2021: The government continued to cut back on fuel subsidies in 1Q FY2020-2021, reducing spending by 46% to EGP 3.9 bn from EGP 7.25 bn in the same period a year earlier, Oil Minister Tarek El Molla told Reuters, according to Sky News. The minister’s statements […]
Rystad: Egypt on track to become Africa’s ‘green powerhouse’ by 2025
Africa’s renewable energy capacity is set for consecutive years of growth, exceeding 50 GW in 2025 Africa’s installed capacity of renewable energy, which stood at 12.6 gigawatt (GW) in 2019, is set for consecutive years of growth, a Rystad Energy analysis shows. The continent’s capacity is forecast to reach 16.8 GW in 2020, add another […]
Mohamed Mounes joins Neptune Energy as Egypt Managing Director
Neptune Energy today announced Mohamed Mounes Shahat will join the company in December to take on the role of Egypt Managing Director, based in Cairo. Mounes joins Neptune from Egypt’s Ministry of Petroleum, having most recently held the position of Minister’s Advisor for Gas Affairs. With almost 40 years’ experience, Mounes has a strong technical […]
Siemens Gamesa: Egypt – Wind brings clean energy, growth and hope
To understand sustainable development, you need to look no further than Siemens Gamesa’s recent wind energy projects at Ras Ghareb, Egypt. From supporting health and education at the Ras Ghareb wind energy project, to providing employment and protecting biodiversity at the West Bakr wind farm, these projects are not just about providing clean electricity. Soaring […]
