Business - Energy

Greece vows to link Egypt's energy grid to European Union

Greece pledged Tuesday to link Egypt to the European Union's energy market with an undersea cable that would carry electricity across the Mediterranean.

Energy crunch hits global recovery as winter approaches

Power shortages are turning out streetlights and shutting down factories in China. The poor in Brazil are choosing between paying for food or electricity. German corn and wheat farmers can't find fertilizer, made using natural gas. And fears are rising that Europe will have to ration electricity if it's a cold winter.

Cyprus eyes Egypt’s plants to Liquify ExxonMobil’s Glaucus-1 well’s natural gas

Cyprus considers establishing a pipeline with Egypt to transfer natural gas to the Egyptian gas liquifying plants where gas would be liquefied for export aboard ships, according to Cyprus energy minister Natasa Pilides.

Egypt to construct 500 MW wind power farm in Gulf of Suez region

The Ministry of Electricity and Renewable Energy and a multinational consortium signed two agreements on Wednesday planning a wind power farm with a capacity of 500 megawatts in the Gulf of Suez region.

Egypt constructs gas pipeline in Western Desert

Egypt has started the construction of a gas pipeline in the Western Desert with an expected capacity of 15 million cubic feet of gas per day, the head of the General Petroleum Company (GPC), Nabil Abdel-Sadek, said on Saturday.

Egypt raises fuel prices by 25 piastres per litre in periodic review

Egypt increased the fuel prices in the local market by 25 piastres* per litre of gasoline in a periodic review, the Ministry of Petroleum announced in a statement.

We seek to establish real partnership with Egypt: Algerian energy minister

Algerian Minister of Energy and Mines Mohamed Arkab said that his country looks forward to establishing a real partnership with Egypt in the energy field, noting that several oil and gas exploration tenders would be announced in the coming period.

Egypt to supply Lebanon with natural gas 'within a few weeks': Minister

Egypt is set to commence with exporting gas to Lebanon soon as part of a previously agreed upon roadmap to ease Lebanon's power crisis, the two countries' energy ministers said on Tuesday after two-day talks in Cairo.

Egypt, Saudi Arabia award $1.8 billion contracts for power linkage project

Egypt and Saudi Arabia awarded contracts to two companies on Tuesday for the implementation of a project to link their power grids and allow the exchange of up to 3,000 MW of electricity at a value of $1.8 billion.

Attaining net-zero carbon emissions globally by 2050 requires up to $20 tln: IMF

Achieving net-zero carbon emissions globally by 2050 requires additional global investments in the range of 0.6 to 1 percent of the annual global GDP over the next two decades, amounting to a cumulative $12 to $20 trillion, according to the International Monetary Fund (IMF).

Shell completes sale of assets in Egypt's Western Desert

Shell Egypt NV and Shell Austria GmbH announced that they have completed the sale of their upstream assets in Egypt s Western Desert to a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy.

Egypt’s electricity minister arrives in Vienna for IAEA conference

The four-day conference will kick off in the Austrian capital Monday when the minister will deliver Egypt s speech on its efforts in the field of nuclear safety

Oil demand to top pre-pandemic level next year: OPEC

As economic activity ramps up OPEC expects global oil demand to grow by 4.2 million barrels per day (mbd) on average next year

EBRD hands NBKE $25 mln loan to support Egypt’s energy efficiency

It also clarified that the European Union (EU) will support the financing to NBKE with up to 2.5 million of EU funds for incentive payments to projects that are successfully implemented and verified.

Arab energy ministers agree on roadmap to supply Lebanon with Egyptian gas

Egypt hopes to export natural gas to Lebanon as soon as possible, Petroleum Minister Tarek El-Molla said

Jordan to host energy meeting on Wednesday to discuss transport of Egyptian gas to Lebanon

The meeting comes after Damascus welcomed Lebanon s plea to pass gas and electricity lines from Egypt and Jordan through Syrian lands to Lebanon

Planning, petroleum ministries sign protocol to link Decent Life Initiative’s villages to natural gas grids

Planning Minister Hala El-Said stated that the signed protocol aims to manage and provide the required finances for in-progress natural gas projects included in the initiative s plan

Egypt's PM discusses with Siemens Energy officials Green Hydrogen industry

Madbouly said that an agreement signed Tuesday with Siemens Energy will give a strong push to the close cooperation between both sides, adding that Green Hydrogen represents the future of energy

Egypt allocates EGP 65.3 bln as total investments in petroleum sector: Planning minister

The report indicated an increase in production in the extraction sector (crude oil, gas, and other extractions) and the petroleum refining industry by 10 percent at current prices to about EGP 1.31 trillion in FY2021/22

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