Latest news with #EGAS
Daily News Egypt
26-05-2025
- Business
- Daily News Egypt
FSRU Energos Power arrives at Alexandria Port to boost summer gas supply
The Energos Power, a new Floating Storage and Regasification Unit (FSRU) operated by US-based New Fortress Energy, has docked at the southern berth of the Tahya Misr terminal in Alexandria Port after arriving from Germany. The ship's arrival marks a key step in Egypt's strategy to secure natural gas supplies for power generation during the high-demand summer season. Minister of Petroleum and Mineral Resources Kareem Badawi welcomed the vessel on Monday, accompanied by senior officials from the ministry and the Egyptian Natural Gas Holding Company (EGAS). The Energos Power is equipped to receive imported liquefied natural gas (LNG), convert it back into its gaseous form, and feed it directly into Egypt's national gas grid. Minister Badawi said the move aligns with the government's broader energy strategy aimed at maintaining electricity grid stability during peak usage periods. 'This second regasification ship is a result of recent discussions with the German government, both in Cairo and during my visit to Berlin last March,' Badawi noted. 'It reflects our continued commitment to expanding LNG import infrastructure and ensuring reliable energy supplies.' The new FSRU joins an existing regasification unit stationed at the SUMED Port in Ain Sokhna. EGAS has also signed contracts to lease two additional FSRUs, expected to arrive soon, which would bring the total number to four. According to the ministry, this expansion is designed to enhance the flexibility and efficiency of Egypt's gas supply chain, especially as domestic demand surges during the hotter months. Badawi emphasized ongoing coordination between the Ministries of Petroleum and Electricity, alongside other key stakeholders, to ensure a stable and uninterrupted power supply throughout the summer. The Energos Power has a storage capacity of 174,000 cubic meters of gas. Following its arrival, Minister Badawi toured the vessel along with senior figures including Yassin Mohamed, EGAS Executive Managing Director; Moataz Atef, Assistant Minister and Spokesperson; Khaled El-Badry, Assistant Minister for Projects; Hossam Nabil, Head of Petroleum Sector Security; Waleed Lotfy, Chairperson of Petrojet; and Wael Lotfy, Chairperson of ENPPI. The Minister was received at the port by Ehab Salah, Chairperson of Alexandria Port Authority, and Abdelkader Darwish, Chairperson of the Egyptian Company for Multipurpose Terminals (EGMT).
Zawya
15-05-2025
- Business
- Zawya
Egypt: EGAS, Harbour Energy sign deal to expand operations at Disouq gas field
Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of an agreement between the Egyptian Natural Gas Holding Company (EGAS) and Harbour Energy to expand production operations at the Disouq gas field, according to a statement. The deal includes additional acreage within the Nile Delta concession area to increase drilling activities, boost sustainable growth opportunities, and expand production in the region. On his part, Badawi affirmed the ministry's commitment to supporting this partnership, which is expected to yield mutual benefits through new discoveries and bring them into production. Yassin Mohamed, Executive Managing Director of EGAS, said this deal aligns with the ministry's strategy to increase natural gas production from concession areas in Egypt through the implementation of an incentive package for foreign partners. Meanwhile, Sameh Sabry, Regional Director for Harbour Energy in MENA, noted that the agreement marks a significant move towards expanding their activities and increasing production to meet Egypt's energy needs. The onshore gas project in Disouq is managed by Disouq Petroleum Company (Disouco), a joint venture (JV) between EGAS and Wintershall Dea Nile, a subsidiary of Harbour Energy. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
15-05-2025
- Business
- Zawya
Egyptian Cabinet greenlights 5 petroleum projects worth $221.2mln
Arab Finance: The Egyptian Cabinet has approved petroleum commitment agreements for five projects, signed between the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and several international companies, as per a statement. The agreements include a minimum investment of nearly $221.23 million, non-refundable grants of $31.5 million, in addition to drilling at least 24 wells. The deals were inked for exploration and exploitation of oil in the Northwest El-Maghara area in the Western Desert, East Al Hamd in the Gulf of Suez, and East Gemsa in the Gulf of Suez. They also cover the natural gas and crude oil exploration in the offshore North Damietta Marine area in the Mediterranean Sea. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
15-05-2025
- Business
- Zawya
Egypt: EGAS, Harbour Energy expand partnership to boost gas exploration at Disouq Field
Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, has announced a new agreement between the Egyptian Natural Gas Holding Company (EGAS) and Harbour Energy to expand exploration and production at the Disouq gas field in the Nile Delta. The agreement includes additional acreage and improved commercial terms designed to incentivize increased investment and drilling activity. The Disouq joint venture company, Disouco, has been granted enhanced rights to produce natural gas, with a commitment to intensify drilling operations across both the current concession and newly awarded land. The agreement was signed by Yassin Mohamed, Executive Managing Director of EGAS, and Sameh Sabry, Regional Managing Director of Harbour Energy for the Middle East and North Africa. 'Harbour Energy is one of our key partners in the energy sector,' said Minister Badawi. 'This agreement reflects our continued commitment to fostering mutually beneficial collaborations that drive new discoveries and increase production.' Yassin Mohamed highlighted that the agreement aligns with the Ministry's broader strategy to boost natural gas output across Egypt by offering attractive terms to foreign investors. 'We look forward to promising exploration results and the development of new reserves that will contribute to Egypt's energy future,' he said. Sameh Sabry emphasized the strategic value of the agreement in scaling up Harbour Energy's operations to meet Egypt's growing energy demand. The Disouq onshore gas project, located in the Nile Delta, is operated by Disouco—a joint venture between EGAS and Wintershall Dea Nile, part of Harbour Energy. Since production began in 2013, the project has played a vital role in supporting Egypt's energy needs. In addition to its production milestones, the project has achieved key environmental goals, including the elimination of routine gas flaring and a significant reduction in greenhouse gas emissions. In late 2022, Harbour Energy discovered a new gas field in the nearby East Damanhour exploration block. The find was swiftly tied into Disouq's central facilities, allowing production to commence by September 2023. Harbour Energy operates the development with an 80% stake, alongside Croatia's INA-Industrija Nafte, which holds the remaining 20%. The agreement is expected to reinforce Egypt's role as a regional energy hub while advancing national energy security and economic growth.
Egypt Today
13-05-2025
- Business
- Egypt Today
Egypt to Boost LNG Import Capacity with New 10-Year Höegh Agreement
CAIRO - 13 May 2025: The Egyptian Natural Gas Holding Company (EGAS) has signed a 10-year agreement with global offshore energy infrastructure firm Höegh LNG to lease a new floating storage and regasification unit (FSRU), Bloomberg reported. As part of the deal, Höegh's vessel Höegh Galleon will be stationed at the SUMED port in Ain Sokhna in the fourth quarter of 2026. Before deployment, the ship—originally an LNG carrier with a daily capacity of one billion cubic feet—will be converted into a regasification unit. The new FSRU will replace the currently operating Höegh Galleon, Egypt's only active LNG import terminal, which was leased under a separate agreement last year. Meanwhile, Egypt is holding talks with Qatar to establish long-term natural gas supply agreements. During a meeting between Petroleum Minister Karim Badawi and Qatari Energy Minister Saad Sherida Al Kaabi, both sides discussed the potential for deeper integration in energy infrastructure and LNG operations, including trading, liquefaction, and regasification.
