Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Egyptian Natural Gas Holding Company News

13 Apr 2022

Eni Inks Deal for Egyptian LNG Exports to Europe

© Mariusz / Adobe Stock

Italy's Eni has signed a framework agreement with the Egyptian Natural Gas Holding Company (EGAS) to provide shipments of Egyptian liquefied natural gas (LNG) for Italy and Europe, the Egyptian government said on Wednesday."The agreement also aims to exploit the great potential in the field of research and exploration in Egypt, especially in the Nile Delta, the Eastern Mediterranean, and the Western Desert," a cabinet statement added.(Reuters - Reporting by Momen Said Atallah; Writing by Ahmad Elhamy; Editing by Jan Harvey)

10 Dec 2018

Egypt Okays BP, Mubadala Acquisition of Stake in Eni's Noor Concession

Egypt’s petroleum ministry has signed an agreement for UK Petroleum giant British Petroleum (BP) and UAE investment fund Mubadala to buy a 45 percent stake in the country's Noor offshore natural gas concesion in the Mediterannean from Italy’s Eni.In the concession, which is in participation with Egyptian Natural Gas Holding Company (EGAS), Eni as operator through its subsidiary, IEOC, now holds a 40 percent interest. The other partners in the concession are BP with 25 percent interest and Tharwa Petroleum Company with 15 percent interest.The transactions were approved during a ceremony in Sharm El Sheik by the Egyptian Government represented by the Egyptian Petroleum Minister, Eng. Tarek El Molla.

26 Mar 2016

Egypt Struggles to Close LNG Tender

The Egyptian Natural Gas Holding Company (EGAS) has reportedly failed to secure two cargoes for delivery in April, says a report in Reuters. The tender launched during last week was open to EGAS’ existing suppliers, however, delivery windows of April 1-7 for the first cargo and April 27-28 were difficult to arrange due to a short period notice. Traders said the first delivery window was difficult to arrange given the short notice period. For the late-April cargo, EGAS lined up commodity trader Trafigura as the supplier, but the deal ran into difficulties after EGAS tried to bring forward delivery to the middle of April, traders said. Neither of the two delivery slots has been filled as of Thursday, and EGAS is still in talks with potential suppliers over the two cargoes.

31 Aug 2015

Eni Finds Giant Egyptian Offshore Gas Field

The Italian energy major Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. The Zohr gas field covers any area of 100 square kilometers and Eni said that "it could become one of the world’s largest natural-gas finds” and supply Egypt's needs for decades. Eni, owned by the Italian government, said that the field contains an estimated 30 trillion cubic feet (TCF) of natural gas. This compares with up to 22 TCF in Israel's Leviathan field. "This historic discovery will be able to transform the energy scenario of Egypt," said Claudio Descalzi, chief executive of Eni. Eni, which has full concession rights to the area, is the biggest foreign energy firm in Africa.

27 Aug 2015

Rosneft, EGAS Ink LNG Supply Deal

Rosneft Trading SA, a company of Rosneft Group, and the Egyptian Natural Gas Holding Company (EGAS) signed a Master LNG Supply and Purchase Agreement. The document was signed by the Chairman of Rosneft Management Board Igor Sechin and the Chairman of EGAS Eng. Khaled Abdelbadie during the visit of the President of the Arab Republic of Egypt Hussein Abdel Fattah Saeed Khalil al-Sisi to Russia. In accordance with this document, the parties plan to organize the supply of LNG to the Arab Republic of Egypt. Cooperation with EGAS marks Rosneft Group's entry into the world LNG trading market. Also, implementation of the provisions of the signed documents will, in the long term, open access for Rosneft Group to the Egyptian gas market which has a significant growth potential.

04 Aug 2015

Egypt Gets FSRU from BW Gas

Norway-based BW Gas will provide Egypt with a liquefied natural gas (LNG) floating import terminal under a five-year contract. This comes as as the North African country's government grapples with energy shortages. "BW has been selected by The Egyptian Natural Gas Holding Company (EGAS) to provide LNG regasification services utilizing a Floating Storage and Regasification Unit (FSRU) in Ain Sokhna, Egypt," said a statement from the company. The floating regasification and import terminal, which converts super-cooled LNG into gas, is Egypt’s second. An import terminal from Norway’s Hoegh LNG arrived in Egypt in April, allowing Egypt to begin LNG imports. The new terminal will have a capacity of 750 million cubic feet per day, the official said.

08 Jul 2015

Egypt, Russia Pact for LNG Shipments

Image by ESRG

The Egyptian Natural Gas Holding Company (EGAS) signed an initial agreement with Russian company Rosneft to supply oil products and liquefied natural gas (LNG) shipments. The document defines key terms of the future cooperation between the companies in the area of LNG supplies. The implementation of the terms of the signed document will allow Rosneft to access the high growth potential Egyptian gas market and deepen broader cooperation between the two companies. Minister of Petroleum…

27 Aug 2014

RWE Dea Starts Gas Production in Egypt

RWE Dea achieved first production from the Central Treatment Plant (CTP) of the Disouq Development Project in Egypt. Production commenced at an initial rate of 45 million standard cubic feet gas per day. Total production of 150 million standard cubic feet gas per day from the Disouq project has been achieved already. RWE Dea’s oil and gas production in Egypt will be boosted by 50 percent. Further increase in production is expected in 2015. Production from the CTP commenced at an initial rate of 45 million standard cubic feet gas per day. RWE Dea ramped up production progressively during the last few days to reach a rate of around 90 million standard cubic feet gas per day.

18 Feb 2014

Dana Gas Wins Block Offshore Egypt

Dana Gas said it has signed an agreement for the North El Arish (Block 6) Concession Area, offshore the eastern Nile Delta. The 2,980 sq. km block was awarded in April 2013 as part of a competitive bidding process. This is the company’s first offshore block in Egypt, covering water depths from 20 up to a 1,000 m. Multiple play types have already been identified within the acreage and plans for the first exploration phase of four years, which has now commenced, includes seismic acquisition and the drilling of one exploration well.

22 Apr 2013

Dana Gas Expands Presence

Dana Gas, a regional private sector natural gas company in the Middle East, announced a successful bid in the Egyptian Natural Gas Holding Company 2012 International Bid Round that took place on April 18, 2013. The Company has also been prequalified as a non-operator in Lebanon’s first Offshore Licensing Round. The Company was awarded 100% working interest in the North El Arish Offshore (Block 6) concession area. The area is located offshore Nile Delta, in the eastern part of the Mediterranean Sea, in water depths of up to 1,000 meters and covering an area of 2,980 km². The concession has an eight year exploration period comprised of three phases starting with an initial four year exploration period and two additional two year extension periods.

09 Apr 2002

El Paso Global LNG Signs MOU With EGAS

El Paso Global LNG, a subsidiary of El Paso Corporation has signed a Memorandum of Understanding (MOU) to work with the Egyptian Natural Gas Holding Company (EGAS) and the Eqyptian General Petroleum Corporation (EGPC) to investigate opportunities for El Paso to invest in the natural gas sector in Egypt. The MOU will allow the parties to cooperate in the exploration, production, gathering, transportation, and processing of natural gas and the possible development of a liquefied natural gas (LNG) liquefaction plant in Egypt. The parties will begin various studies into Egypt's natural gas sector immediately.