Egas News

Korea Shipbuilding & Offshore Engineering (KSOE) and its subsidiary Hyundai Heavy Industries (HHI) have received an approval in principle (AIP) from DNV for their newly developed waste heat-derived liquefied natural gas (LNG) fuel supply system Hi-eGAS (Hyundai High Efficient Gas Supply System) for 300K very large crude carriers (VLCC).Currently, LNG fuel propulsion ships have used boilers to make hot steam, which has converted LNG into a gas at room temperature to supply a ship’s engine.

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)

The Egyptian Ministry of Petroleum and Schlumberger introduce the Egypt Upstream Gateway, a unique and innovative national project for digitizing subsurface information and delivering a digital subsurface platform to ensure Egypt's subsurface data is kept evergreen.The Egypt Upstream Gateway will also be a platform to promote Egypt's exploration and production potential worldwide.The Egypt Upstream Gateway will leverage the GAIA digital subsurface platform and provide additional value-added solutions—enabled by digital technology and domain expertise—using the DELFI E&P cognitive environment capabilities and technologies."Leveraging…

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.

International floating liquefied natural gas (LNG) company Höegh LNG said it has decided to amend the Höegh Gallant FSRU time charter with Egypt Natural Gas Holdings Company (EGAS)."We have agreed to amend the Höegh Gallant time charter. Under the amended contract, the Höegh Gallant will be chartered as an LNG carrier to a third party, and Egas will compensate for the rate difference between the original FSRU contract and the new LNG carrier time charter," said a press statement from the Norway-based company.The amended contract is expected to become effective in October 2018 and will run to April 2020, the termination date of the original five-year FSRU contract…

Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals.The minister, Tarek El Molla, told Reuters the other vessel would stay behind as part of the petroleum ministry's strategy to maintain energy supplies for the country.Hoegh said Egypt Natural Gas Holding (EGAS), having decided to end its charter early…

Egypt seeking to defer up to 25 LNG cargoes this year-trade; talks with trade houses and producers ongoing. Egypt is holding talks with its liquefied natural gas (LNG) suppliers to defer contracted shipments this year and aims to cut back on purchases in 2018, as surging domestic gas production squeezes out demand for costly foreign imports. Cairo's desire for gas self-sufficiency by the end of 2018 bodes ill for traders having to reshuffle LNG out of the country amid concern over the impact on global gas prices if replacement markets for the world's eighth-biggest importer of the super-cooled fuel are not found fast enough. State-run importer EGAS aims to defer dozens of liquefied natural gas (LNG) cargoes due this year, analyst, trade and industry sources say.

Egypt launched the world's biggest tender for liquefied natural gas (LNG) as officials from top energy companies and trading houses converged on Cairo undeterred by new rules that could force them to wait for as long as six months to get paid. After months of speculation and delay, state-run Egypt Natural Gas Holding (EGAS) released tender documents on Sunday bidding to secure 96 LNG shipments in 2017 and 2018, participants in the tender told Reuters. An additional 12 optional cargoes were included in the tender, which EGAS may decide not to award, they said. At a price-tag of several billion dollars, it is the biggest mid-term LNG buy tender ever issued, trade sources said.

The new new supply of liquefied natural gas (LNG) from Russia's Sakhalin plant and weakening demand from Egypt helped snap a months-long rally. Hence Asian spotLNG prices fell this week, reports Reuters. Meanwhile, countries in the Middle East and North Africa led by Egypt, Kuwait and Morocco are boosting liquefied natural gas import capacity, taking advantage of low prices to meet rising energy demand, according to a Bloomberg report. Russia's Sakhalin II plant is tendering to sell three cargoes loading in September and one in October, relieving supply constrained markets. In Egypt, state-run Egas came out looking for eight instead of the expected 16 cargoes for delivery in Sept-Dec, further loosening outlooks for the month ahead.

Egypt will tender next week to import 10 cargoes of liquefied natural gas (LNG) for delivery in July and August, an official from the state gas company, EGAS, said on Thursday. The official said Egypt would consider importing a further 10 cargoes of LNG, either through direct contracts or through a further international tender, once next week's tender is complete. Egypt relies to a large extent on LNG to generate electricity for its 90 million people. Reporting by Ehab Farouk

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday. Last year Egypt and Rosneft signed a memorandum of understanding for a slew of petroleum products as well as 24 LNG cargoes. Only five of the 24 initially agreed cargoes were later inked into a final deal. "We're receiving the first shipments of LNG from Rosneft this month out of the five shipments that were agreed upon," said the EGAS official, declining to provide the value of the shipment or its size. Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption.

Egypt has purchased two liquefied natural gas (LNG) cargoes for April delivery from two international companies, EGAS Chairman Khaled Abdel Badie told Reuters on Sunday, without specifying which two companies won the tender. EGAS launched a tender earlier this month, open only to some of its existing suppliers, for the delivery of one cargo on April 1-7, and another on April 27-28. Badie said two shipments for 170 thousand cubic metres each were successfully tendered for and EGAS was "in the final stage of contracting". Traders told Reuters last week that EGAS had so far failed to make purchases from suppliers, some of which were hesitant to arrange delivery on short notice.

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.

Argentina tenders for 19 cargoes. Asian spot prices for liquefied natural gas (LNG) eased under pressure from growing supplies though fresh demand from Argentina limited losses, traders said. LNG for May delivery in Asia eased to $4.50 per million British thermal units (mmBtu), down 5 cents from the previous week. Traders said prices were supported by Argentina's tender to buy 19 LNG cargoes for May to August delivery, following a large purchase earlier in the week. Traders said Argentina bought about 20 cargoes on Wednesday from companies including Trafigura, Statoil, BP, Gazprom, Glencore, Gas Natural and Petrobras, having tendered for 32. The cargoes sold for about $4.50 per mmBtu, they said.

Egypt's state-owned EGAS said on Friday it had postponed a liquefied natural gas (LNG) delivery from BP last month until later this year, rejecting suggestions there were any payment difficulties. LNG tanker British Sapphire was diverted to Brazil rather than discharging in Egypt. Traders said the delay was related to payment problems. "This is completely untrue," EGAS Chairman Khaled Abdel Badie told Reuters, adding that deliveries had been postponed until Egypt's peak energy consumption period in August. Egypt became a major market for LNG shippers after the launch of two floating import terminals last year. Badie said Egypt is looking to rent a third floating storage and regasification unit (FSRU) in the first quarter on 2016.

BP's diversion of a tanker of liquefied natural gas (LNG) away from Egypt due to payment issues is the first sign that the country's currency crisis could be jeopardising its energy supplies, traders said. Earlier this month the tanker British Sapphire was diverted to Brazil rather than discharging in Egypt, with the delivery of the LNG cargo for Egypt delayed up until October, traders said. BP declined to comment. Egypt's state-owned EGAS was not available to comment. Egypt has been struggling to pay for U.S. dollar-priced oil products and LNG due to an acute foreign currency crisis, worsened by the Russian airliner disaster in October, which hit tourism revenue.

Jordan's National Electric Power Company (NEPCO) said its floating liquefied natural import terminal was back working at full capacity after adverse weather disrupted operations earlier this month. NEPCO declared force majeure on the terminal on Dec. 5 due to strong winds requiring the floating, storage and regasification unit (FSRU) to be moved away from the jetty, a spokeswoman for the company said. At the time, the firm also informed state-run Egyptian Natural Gas Holding Co (EGAS) that it could not meet its agreement to deliver volumes transported from its FSRU through the pipeline to Egypt. Gas supplies to both Jordan and Egypt were disrupted for a few days before the plant initially resumed operation at half capacity, and then finally full capacity, the spokesperson said.

Seven companies reportedly met with Egyptian Natural Gas Holding Co. (EGAS) to discuss an  liquified natural gas (LNG) tender, including: Vitol, Noble Group, Trafigura, EDF Trading, PetroChina, Shell and Gas Natural, reports Reuters. EGAS will buy 55 LNG cargoes from November this year to December 2016 through a tender it has agreed to with those seven different companies. Originally, only 45 LNG cargoes were to be delivered. The cargoes are expected to meet much of Egypt's near-term energy needs as the government tries to cope with an energy shortage. Falling output and rising demand have turned the country from an oil and gas exporter to net importer and it has emerged as a major new market for LNG.

A second liquefied natural gas (LNG) import terminal arrived in Egypt without cargo on Wednesday and will start operating in the third week of October, state gas board EGAS head Khaled Abdel Badie told Reuters. The floating storage and regasification unit (FSRU) provided by Singapore-based Norwegian gas shipping company BW Gas will allow Egypt to import LNG and reconvert it to natural gas to feed into the energy-starved country's power grid. Reporting by Abdelrahman Adel

Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said. Shell will supply two cargoes while trading houses Vitol and Trafigura will supply one each, traders said. Egypt's state-owned EGAS asked for LNG via Aqaba in a tender launched two weeks ago that called for two cargoes for delivery in September and another two in October. Reporting by Oleg Vukmanovic

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.

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.

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.