Canada's Borna to invest $40mln in Egypt for natural gas recovery, carbon capture plant
Egypt - Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), has met with representatives from Borna, a Canadian company specializing in natural gas separation, processing, and carbon capture technologies.
The meeting aimed to explore opportunities for localizing Borna's advanced technologies in Egypt, aligning with the country's broader efforts to reduce carbon emissions and transition toward cleaner energy solutions.
Borna's CEO, Sam Salimi, announced the company's plan to invest $40m to establish a facility in Egypt dedicated to recovering flared gas from oil extraction and exploration operations. The proposed plant will focus on separating key gases—such as propane, butane, and methane—from flared emissions, reinjecting them into the national natural gas grid. Additionally, the facility will implement carbon capture and storage technologies, enabling Egyptian partners to participate in the voluntary carbon credit market launched by the government last year.
Salimi emphasized that the initiative will offer wide-ranging benefits for Egypt, including lower energy import costs, reduced greenhouse gas emissions, and the creation of new employment opportunities. He also noted strong backing from the Canadian government and financial institutions for companies expanding into high-potential markets like Egypt.
GAFI's Heiba underscored the range of incentives available to investors through Egypt's private free zones framework. These include customs and tax exemptions, expedited licensing procedures, competitive land access, and low operational fees. Crucially, Borna would be able to establish operations near oil and gas extraction sites without being confined to designated public investment zones.
Heiba highlighted that the clean technologies and equipment to be manufactured at the new facility would support Egypt's compliance with global climate standards, including the European Union's Carbon Border Adjustment Mechanism (CBAM). The CBAM requires exporters to disclose the carbon content of goods entering the EU, favoring low-emission products and giving a competitive edge to exporters using cleaner technologies.
The collaboration reflects Egypt's continued push to attract green investments and position itself as a regional hub for sustainable energy solutions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 days ago
- Zawya
Natural Gas and Africa's Energy Future: Balancing Growth and Sustainability (By Adrian Strydom)
By Adrian Strydom, Chief Executive Officer of the South African Oil and Gas Alliance ( Africa is at a turning point in its energy journey. As cities expand and industries grow, the demand for electricity is rising fast. By 2040, Africa will need nearly 1,200 gigawatts of power, yet 600 million ( people still lack electricity, holding back development, healthcare, and education. This creates a major challenge: How can Africa expand energy access without locking itself into high-emission fuels? The solution must balance affordability, sustainability, and reliability. While solar and wind power are critical, most countries lack the infrastructure to rely on them alone. Grids must remain stable, industries need steady energy, and cross-border trade requires a consistent supply. Natural gas plays a vital role in this—acting as a bridge to cleaner energy while meeting urgent electricity needs. Africa houses about 7% ( of the world's proven natural gas reserves, and production has increased by over 70% since 2000, with forecasts predicting 520 billion ( cubic meters by 2050. Several African countries are already benefiting from utilising natural gas reserves. Nigeria, Africa's largest gas producer, has over 200 tcf of reserves, supporting millions of jobs across extraction, processing, and transportation. The Greater Tortue Ahmeyim (GTA) project in Senegal and Mauritania is attracting billions in investment, strengthening energy security. South Africa, facing a 'gas cliff' due to declining imports, is exploring its local reserves to protect industrial growth. Mozambique's Coral Sul floating LNG platform has already started production, with revenue projections reaching around $70 million annually between 2025 and 2027. Meanwhile, the Mozambique LNG and Rovuma LNG projects hold immense potential, boasting over 100 trillion cubic feet of recoverable gas, though they remain in early development stages. Many African countries produce only a small fraction of global emissions, yet they withstand the worst of climate change, facing extreme droughts, floods, and food insecurity. Expecting them to abandon fossil fuels without practical alternatives could slow economic development and widen inequalities. A fair energy transition must acknowledge that countries have different economic conditions and needs than major polluters. The shift to cleaner energy must be structured in a way that allows Africa to grow sustainably without compromising its ability to provide reliable power, create jobs, and strengthen its industries. Currently, many African countries don't have the infrastructure to rely on renewables alone. Power grids are weak, underfunded, and often unreliable. The main challenge with solar and wind energy is that they depend on the weather. If the sun isn't shining or the wind isn't blowing, power generation drops, causing disruptions. Batteries can store excess energy for later use, but large-scale storage technology is still too expensive and not widely available. This is where natural gas plays a crucial role. Natural gas and renewables complement each other to form a balanced and resilient energy mix. Gas provides the flexibility to fill in the gaps when renewable output is low, ensuring a constant and stable electricity supply. Additionally, gas-fired plants can ramp up quickly to meet demand and are more responsive than coal, making them ideal partners for intermittent energy sources. It is noteworthy that the infrastructure built for natural gas today, such as pipelines and generation facilities, can even be repurposed to carry cleaner fuels like green hydrogen. This synergy allows African countries to continue scaling up renewables with confidence, knowing that natural gas is there to provide reliability, bridge energy gaps, and support the transition toward a low-carbon future. Natural gas has been a key transitional energy source worldwide. In Africa, its role is even more critical. The continent has vast gas reserves, yet much of its potential remains untapped due to limited infrastructure investment and regulatory uncertainty. If developed strategically, natural gas can drive industrial growth, strengthen energy security, and create the capacity needed for long-term investment in renewable energy. However, unlocking this potential requires coordinated action. Expanding gas infrastructure requires long-term investment in pipelines, processing plants, and export terminals, which take years to build. Investors need policy clarity and predictable returns, so governments must offer stable tax structures, licensing agreements, and local value retention policies to keep revenues in African economies. Africa's energy future must grow in a way that works for its people. Electricity must remain accessible for homes, businesses, and industries while innovative technologies develop. This is not a choice between gas and renewables - it is about using the right tools at the right time. Natural gas is a cornerstone of an orderly and just transition. With careful planning, natural gas can support Africa's economy today while building the foundation for a cleaner, more resilient future. Distributed by APO Group on behalf of South African Oil and Gas Alliance.
Khaleej Times
3 days ago
- Khaleej Times
Eid Al Adha 2025: Emotional commerce and seasonal trends boost 45% online sales growth in Mena
Eid Al Adha 2025 is expected to deliver a 45 per cent boost in mobile sales across the Middle East and North Africa (Mena) e-commerce market and 150 per cent growth in gifting purchases, data showed, driven by a rise in emotionAl first commerce and seasonal trends. Research by Flowwow, a UAE-based gifting marketplace, and Admitad, a leading affiliate marketing platform, projects a growth of 15 per cent in gross merchandise volume (GMV) orders growth in e-commerce research ahead of Eid Al Adha 2025, one of the region's key retail moments. The growth in online orders, sales GMV, and average order value during Eid Al Adha highlights a digital shift from traditional mall retail to fast and tech-enabled online shopping. In the changing e-commerce sector, super apps and marketplaces compete to meet the increasingly sophisticated demands of digital consumers. The region's rich culture of gifting, combined with its multinational population and rising income levels, continues to boost the rapid growth of online gifting in the GCC, making it the fastest-growing $1.8 billion market in this space, projected to reach $6.38 billion by 2030. The study, which analysed over 150,000 customer orders during the Eid Al Adha period 2024–2025, shows rising consumer demand for seasonal gifts and emotionally driven purchasing decisions. The analytics forecast a shift toward higher-value purchases, and strong mobile commerce growth, trends expected to continue into 2025 with projected 10 per cent order growth and mobile sales exceeding 45 per cent across the Mena region. Eid Al Adha is one of the biggest shopping seasons of the year in the Mena region, driven by traditions of generosity, gifting, and festive preparation. Looking ahead to Eid Al Adha 2025, Analysts project the number of e-commerce orders in the region to increase by 10 per cent, with GMV expected to grow by 14-15 per cent during the holiday, boosted by rising average household incomes and a growing shift toward digital shopping. Mobile commerce was a key driver of growth, with 47 per cent of online orders in the UAE and over 50 per cent in Saudi Arabia made via mobile devices. Across Mena, mobile purchases rose to 41.5 per cent, up from 38 per cent last year, showing the ongoing shift to mobile-first shopping. During the five-day holiday window in 2024, online orders in the Mena region increased by 5 per cent compared to non-holiday periods, while gross merchandise value (GMV) grew by 14 per cent. The average order value (AOV) rose from $37 to $40, an 8 per cent increase, showing a shift toward higher-value purchases. The UAE and Saudi Arabia, along with Kuwait, Qatar, and Jordan, stood out as some of the top-performing markets, with Saudi consumers posting an AOV of $62 and UAE shoppers close behind at $61. The gifting sector is following this growing trend: Flowwow gifting marketplace recorded a significant surge in sales during Eid Al Adha 2024 in the UAE, with GMV rising by 472 per cent year-over-year, marking a 5.72x performance increase compared to the previous year. This growth was accompanied by a 413 per cent rise in the number of transactions during the Eid period, showing growing customer engagement and stronger market demand during the holiday. The average order value for Eid Al Adha gifts also saw an improvement, reaching Dh354.28 ($96.46) – an increase of 19.9 per cent in UAE dirham terms and 20.3 per cent in US dollar terms, proving the demand for high-quality gifts. Moreover, the share of repeat gift purchases reached 71.8 per cent, reflecting growing customer loyalty. Consumer gifting preferences across the Mena region varied, reflecting both cultural nuances and national purchasing habits. In Saudi Arabia, electronics led the category chart, comprising 25.2 per cent of total orders, followed by home goods (15.5 per cent) and fashion (14.6 per cent). Automotive products, including spare parts and motorcycle gear, were particularly popular in the kingdom, accounting for 12.2 per cent of purchases. In the UAE, home goods took the top spot at 23.4 per cent, followed closely by electronics (21.7 per cent), accessories such as bags and jewellery (18.6 per cent), and fashion (17.5 per cent). 'During Eid Al Adha, we saw strong consumer interest in electronics, home goods, and fashion across both the UAE and Saudi Arabia, making these key categories for seasonal campaigns. At the same time, gifting segments like accessories, toys, and beauty continue to perform well, reflecting how central the tradition of gift-giving is to the holiday experience,' said Anna Gidirim, CEO of Admitad. During the Eid Al Adha period, marketplace data indicates that peony sales in the UAE increased by 151 per cent during the June holiday week, positioning peony bouquets among the top 10 best-selling gift items. This data aligns with 2024 market findings, with the UAE flower market saw a remarkable 200 per cent surge in peony sales over the summer and over 4,300 units sold last year. This trend shows how the timing of Eid Al Adha and the short peony season came together to drive a surge in demand. Among other popular gifting categories during the Eid Al Adha holiday on Flowwow were flowers (72 per cent), followed by hamper boxes (15 per cent), sweets and bakeries (9 per cent), and balloons and edible bouquets (2 per cent each). One of the main drivers of these on-occasion and non-occasion shopping trends and gifting market growth is the rise of emotional and social commerce. Emotion strongly influences consumer behaviour in the Mena region: a Google study shows that shoppers often rely on emotional triggers to make purchase decisions, while another research found that marketing campaign designed to foster emotional connection can lead to a 70 per cent increase in product usage and sales. In response, brands are moving away from transactional 'buy-now' messaging toward emotionally driven campaigns rooted in cultural values and storytelling. During Eid, influencer content and behind-the-scenes narratives on platforms like Instagram, TikTok, and Snapchat enhance the emotional impact of gifting. A TikTok and Ipsos study found that 61 per cent of users find TikTok more entertaining during Eid, with many discovering and trying new products through storytelling content. This emotional connection drives a shift away from generic presents toward meaningful, experience-based gifts, making social and emotional commerce a key driver of visibility and cultural relevance. 'We've seen how emotional commerce drives market activity during Eid Al Adha. This holiday, with its focus on generosity and connection, offers a key opportunity to engage with the audience through emotionally resonant messaging. People choose gifts that express real care and connection, making Eid a truly meaningful time for sharing and celebration,' Slava Bogdan, CEO of Flowwow, commented.
Zawya
3 days ago
- Zawya
Global energy investment set to rise to $3.3trln in 2025: IEA
PARIS - The International Energy Agency (IEA) said that global energy investment is set to increase in 2025 to a record US$3.3 trillion despite headwinds from elevated geopolitical tensions and economic uncertainty, with clean energy technologies attracting twice as much capital as fossil fuels. In its new World Energy Investment 2025 report, IEA stated that investment in clean technologies – renewables, nuclear, grids, storage, low-emissions fuels, efficiency and electrification – is on course to hit a record US$2.2 trillion this year. The report explained that investment in solar, both utility-scale and rooftop, is expected to reach US$450 billion in 2025, making it the single largest item in the global energy investment inventory. Battery storage investments are also climbing rapidly, surging above US$65 billion this year. Lower oil prices and demand expectations are set to result in the first year-on-year fall in upstream oil investment since 2020, according to the report, with an expected 6 percent drop driven by lower oil prices and demand expectations.
