Shell, EGAS, Petronas award Idku Energy Hub project FEED to Bechtel-led coalition
Decarbonizing Egypt’s facilities for a net-zero future Shell Egypt, EGAS and Petronas have awarded a front-end engineering and design (FEED) contract to a Bechtel-led coalition that includes Enppi and Petrojet to study a proposed unified power system between the onshore gas processing plant of the West Delta Deep Marine (WDDM) gas fields in the Mediterranean […]
Will Italian oil giant Eni help boost Egyptian LNG exports to Europe?
Eni to work with Egypt + others to find alternative gas for Europe: Eni pledged to bring more than 14 trn cubic feet of additional gas to the global market and mitigate Europe’s energy crisis by “leveraging established alliances with producing countries,” including Egypt, the Italian energy giant announced in a press release outlining its 2022-2025 strategy. This […]
Snam joining Eni in Mediterranean gas trunkline system
Eni has agreed to sell Snam a 49.9% stake in companies operating two pipeline systems taking gas from Algeria to Italy. These comprise the offshore gas pipelines from the Tunisian coast to Italy and the onshore gas pipelines from the Algeria and Tunisia borders to the Tunisia coast. Under the agreement, Eni will transfer its […]
LNG carriers will pay full rate to transit the Suez Canal starting today
LNG carriers will pay the full rate to transit the Suez Canal starting today, the Suez Canal Authority (SCA) announced yesterday. SCA chief Osama Rabie said in a televised interview last night that the move came amid rising demand for natural gas. Vessels transporting natural gas had enjoyed a 25% reduction in transit fees, a figure that […]
Oil shipments through Egypt’s SUMED pipeline hit 18-month high in November
Sumed’s oil shipments at their highest in November since May 2020, with north of 700k bbl/d of crude flowing out of the pipeline last month, data compiled by Bloomberg shows. Although this is the highest level since May 2020, it remains 150k bbl/d below pre-pandemic levels. This uptick comes 18 months after shipment activity had […]
Snam buys 25% stake in EMG Gas Pipeline from Thai company PTT
Italy’s Snam steps into the EastMed: Italian energy company Snam has bought Thai investor PTT Energy Resources’ 25% stake in the the East Mediterranean Gas Company for USD 50 mn. EMG is the owner of the Arish-Ashkelon gas pipeline which Israel uses to ship gas to Egypt, the company said in a statement. The stake purchase marks the […]
Suez Canal Authority to reduce discount for LNG carriers by 10%
LNG carriers crossing the Suez Canal will only be getting a 15% cut to transit fees starting 1 November, down from 25% previously, according to a circular the Suez Canal Authority released yesterday. The decision to effectively hike fees for LNG carriers comes amid the global shortage of natural gas, which has sent prices to a 13-year high last month, […]
President Sisi ratifies the East Mediterranean Gas Forum (EMGF)
The final step to setting up the East Mediterranean Gas Forum (EMGF) and its Cairo HQ was cleared on Thursday after President Abdel Fattah El Sisi ratified its founding charter, per the Official Gazette. The regional organization officially came into being in March, after its founding members signed the charter in September last year. About the forum: Headquartered in Cairo, the forum […]
Lithuania’s Klaipėda LNG terminal receives first cargo from Egypt
Lithuania’s Klaipėda LNG terminal expects to receive approx. 138,000 cubic metres of LNG for the first time from Egypt. LNG carrier LNG Fukurokuju, built in 2016 and currently sailing under the flag of the Bahamas, is to deliver the cargo from Idku natural gas liquefaction plant in Egypt. The Lithuania LNG terminal, operated by KN […]
Wintershall Dea’s Q1 2021 Results: Record production, strong financial performance
Wintershall Dea, Europe’s leading independent gas and oil company, today reported its first quarter 2021 results. Mario Mehren, Wintershall Dea Chairman & CEO, commented: “We entered 2021 with a great deal of operating momentum, allowing us to deliver record production of 659 mboe/d in the first quarter. This strong operational performance combined with a more […]
