Latest news with #EnergyShow
Asharq Al-Awsat
19-02-2025
- Business
- Asharq Al-Awsat
Cyprus Says Egypt's Infrastructure Helps Unlock Potential of Its Gas Reserves
Cypriot Energy Minister George Papanastasiou said Egypt's energy infrastructure helps Cyprus make the most of its gas reserves. Speaking at Egypt's international Energy Show (EGYPES 2025), Papanastasiou stressed that a successful energy transition should focus on energy security, affordable resources, and supporting technologies. He also emphasized the importance of working with Egypt, given its competitive advantages in the sector. Egypt and Cyprus signed two agreements on Monday, on the sidelines of EGYPES 2025, to begin developing Cyprus' natural gas discoveries using Egypt's infrastructure. The agreements are part of Egypt's Petroleum Ministry strategy to transform the country into a regional hub for natural gas trade, by receiving gas from Eastern Mediterranean discoveries, directing it to the local market, and re-exporting it to Europe. Egyptian Petroleum Minister Karim Badawi emphasized Egypt's role as a regional energy hub, thanks to its strong infrastructure in the petroleum and gas sectors. He said the main goal of regional energy cooperation is to help countries make the most of their resources and infrastructure, with close partnerships between Egypt, Cyprus, and Europe for mutual benefit. Egypt's strategy focuses on using its location and advanced infrastructure to boost its role in renewable and green energy, as well as petrochemicals, Badawi explained. He also highlighted plans to diversify energy sources, increase renewable energy, and explore green hydrogen, while responsibly producing oil and gas with minimal carbon emissions. Greek Energy Minister Theodore Skylakakis discussed Greece's efforts to secure energy and develop electricity infrastructure, turning the country from an importer into an exporter of electricity for the first time. Badawi signed a memorandum of understanding (MoU) with Skilakakis on cooperation in carbon capture, storage, and utilization with the aim to reduce carbon emissions from the energy sector and support low-carbon economy. The MoU, inked on the sidelines of EGYPES 2025, seeks to facilitate knowledge exchange between Egypt and Greece on the application of carbon capture and storage (CCS) technologies that capture the greenhouse gas carbon dioxide and store it safely underground, so that it does not contribute to climate change. The scope of cooperation includes developing proposals for a regulatory framework for carbon capture, storage, and utilization activities, in accordance with environmental standards and regulations.
Al-Ahram Weekly
18-02-2025
- Business
- Al-Ahram Weekly
UAE energy giant ADNOC to inaugurate new state-of-the-art service station in New Cairo in 2025 - Energy
UAE's energy giant ADNOC Distribution plans to open a new state-of-the-art service station in New Cairo in 2025, featuring an expanded ADNOC Oasis convenience store and a broader range of automotive services. ADNOC made the announcement on Tuesday during Egypt's largest Energy Show, EGYPES 2025, held from 17 to 19 February at Al-Manara International Conference Centre in New Cairo. Key players in the energy sector worldwide are participating in this event. Founded in 1971, ADNOC is a leading diversified energy group owned by the Abu Dhabi Government. The announcement coincided with ADNOC Distribution and TotalEnergies' celebration of the second anniversary of their successful joint venture in TotalEnergies Marketing Egypt (TEME). The new station will complement the 11 existing ADNOC-branded stations in the country, reflecting the company's commitment to providing industry-leading customer experiences. Additionally, ADNOC's Voyager lubricants, blended locally by TEME, will soon be available through independent distributors, expanding their reach beyond ADNOC Distribution stations. ADNOC stressed that this move highlights Egypt's growing potential as an export-focused manufacturing hub. Meanwhile, TEME aims to enhance its future presence in Egypt's aviation fuel market, capitalizing on its strategic role as a transport and tourism hub in North Africa and beyond. Both companies reaffirmed their commitment to supporting Egypt's energy needs, fostering economic growth, and delivering world-class services. Through continued expansion of its retail network and investments in local manufacturing, TEME is positioned to play a vital role in Egypt's energy landscape, promoting sustainability and economic development in the future. A journey of success! In 2023, ADNOC Distribution acquired a 50 percent stake in TEME, which operates over 240 fuel retail sites nationwide and has wholesale, aviation fuel, and lubricant blending operations. This acquisition enabled ADNOC to introduce its retail fuel and Oasis convenience store brands to the Egyptian market. 'The ongoing success of our TEME joint venture demonstrates the value of our international expansion strategy in driving growth. Egypt's significant economic potential is a key part of our journey, and we are proud to deliver innovative solutions and exceptional customer experiences aligned with our vision for regional leadership,' said Bader Saeed Al Lamki, CEO of ADNOC Distribution. 'This partnership underscores our mutual dedication to strengthening Egypt's energy solutions. We recognize the immense potential of the Egyptian market and are committed to fostering sustainable growth,' according to Thomas Strauss, managing director and country chair of TEME. Short link:
