El Molla at Rome MED 18: Italy is Europe’s energy gateway
Egyptian Petroleum Minister Tarek El Molla said on Friday at Med Dialogues in Rome that Italy is a country that Egypt wants to approach because it is “Europe’s energy gateway”. “At the start of this year we signed a memorandum of understanding on energy with the European Union that will make Egypt a considerable energy […]
Qalaa's Chairman: Egypt is ready to be regional energy hub
With gas production in full swing across a number of sites in Egypt, the country is ready to become a key exporter of energy in the region and beyond, the chairman and founder of investment firm Qalaa Holdings told CNBC. “In the oil and gas sectors Egypt remains a very important player,” Ahmed Heikal, told […]
Egypt, EU sign Memorandum of Understanding for energy cooperation
Egypt and the European Union continue to share strong bilateral energy relations as well as an understanding of the opportunities and challenges facing the region. Partnership in the energy sector comes on top of the areas of common interest between Egypt and the EU in view of its importance as a driver of economic growth […]
Platts: Egypt exporting bunker fuel to Europe, using domestic gas for generation – traders
Egyptian General Petroleum Corp., which formerly imported high sulfur fuel oil from Europe, is now exporting bunker fuel, adding to oversupply in the European market, as Egypt’s generation needs are now met by domestic natural gas, traders said Friday. “Egypt used to import much more fuel oil than now, so while I appreciate there are […]
Eni: Egypt likely to become Europe’s gas shipping hub
Egypt may become a natural gas shipping hub by annually shipping up to 20 billion cubic metres of gas to Europe over the coming few years, Reuters reported, citing CEO of Italy’s Eni Claudio Descalzi. Gas projects in east Mediterranean countries such as Egypt, Cyprus, and Israel will remarkably help Europe to diversify its gas […]
Eni: East Mediterranean is key to diversifying Europe's gas imports
Gas projects in east Mediterranean countries such as Egypt, Cyprus and Israel will be key to help Europe diversify its gas imports as output in the North Sea is dropping and Russian supplies are rising, the head of Italy’s Eni said on Monday. Claudio Descalzi said Egypt could play the most crucial role in gas […]
Charles Elinas: Egypt has the advantage in exporting natural gas to Europe
Price, not politics, stymying East Med gas. By Charles Ellinas. The greatest problem making exports of East Med gas, especially from Cyprus and Israel, challenging and difficult, is not political risk, but commercial due to the low global gas prices. You experience political risk when you reach the point of selling. If the prospect of […]
FT: Egypt is most viable route for Europe to exploit East Med gas
The opportunity that Levantine gas provides: Egypt is the most viable route politically to exploiting this resource. Gas pipelines often turn out more pipe dream than reality. Or, in the case of those that cross borders, they can involve projects that take so long to negotiate that by their completion the rationale for them has changed. […]
FT: Geopolitics cloud prospects for East Mediterranean gas finds
Fields are attractively close to Europe but political risks make development complex. When gas started flowing from the Zohr field last month it was an important step in Egypt’s drive for energy independence and signified that the eastern Mediterranean was finally establishing itself as a force in gas production. Claudio Descalzi, chief executive of Eni, the […]
