Latest news with #Borna
Reuters
21-07-2025
- Politics
- Reuters
Iranian lawmaker points to regional insecurity if UN sanctions are reimposed
DUBAI, July 21 (Reuters) - Iran could withhold security commitments if European states invoke a U.N. mechanism to reimpose international sanctions on the Islamic Republic, a member of Iran's parliamentary national security commission said on Monday, according to Borna news. "We have many tools in our disposition. We can withhold our commitment to security in the region, Persian Gulf and Hormuz Strait as well as other maritime areas," Abbas Moqtadaei said in reference to Tehran's potential counter-measures to the reimposition of international sanctions. He was speaking ahead of a meeting on Friday between Iranian deputy foreign ministers and British, French and German diplomats in Istanbul. The three European states, known as E3, have said they would restore international sanctions on Iran by the end of August if the country did not enter productive talks on its nuclear programme with Western powers, notably the United States. E3 countries and Iran have in recent months held inconclusive talks on Tehran's nuclear program, in parallel to indirect nuclear negotiations between Tehran and Washington. Israel's attack on Iran in June led to the suspension of such talks. "Europe is not in a position to endanger itself in the... Hormuz Strait when it is itself in political, economic and cultural conflicts with Russia, China and even the United States," Moqtadaei said in an interview with Iran's semi-official Borna news agency. Last week, Iran's foreign ministry spokesperson said Tehran would react to the three European states if they invoked the UN snapback mechanism, which expires on October 18. In a letter to the UN Secretary-General, Iranian Foreign Minister Abbas Araqchi said on Sunday that the E3 lack the legal standing to invoke the mechanism, arguing that their stance on Israeli and U.S. strikes on Iran's nuclear facilities last month made them no longer participants to a 2015 nuclear deal to which the snapback mechanism is linked. The three European countries, along with China and Russia, are the remaining parties to the nuclear pact - from which the U.S. withdrew in 2018 - that lifted sanctions on Iran in return for restrictions on its nuclear programme. In the past, Iran has used the threat of disrupting maritime transit in the Strait of Hormuz or no longer stopping Europe-bound drug trafficking as a means to push back against Western pressures on its nuclear programme.
Zawya
26-05-2025
- Business
- Zawya
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.
Daily News Egypt
25-05-2025
- Business
- Daily News Egypt
Canada's Borna to invest $40m in Egypt for natural gas recovery, carbon capture plant
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.
