Natural Gas
The ministry noted that the number of gas-powered vehicles in Egypt rose to 500,000 by January.
The deal aims at making the optimal use of Egypt's natural gas reserves by maximizing production capabilities in a way that enables EGAS to explore new opportunities to increase production.
President Abdel Fatah al-Sisi received Thursday an Eni delegation led by CEO Claudio Descalizi in the presence of Minister of Petroleum and Mineral Resources Tarek al-Mulla.
The two ministers stressed the importance of the East Mediterranean Gas Forum as a multilateral cooperation framework in the energy field.
On September 2021, the energy ministers of Egypt, Syria, Lebanon, and Jordan agreed on a roadmap to supply Lebanon with Egyptian natural gas to generate electricity amid the ongoing Lebanese energy crisis.
The Egyptian-Russian deal aims at promoting cooperation and exchanging expertise in the use and transfer of natural gas.
Molla reiterated the importance of providing finance and technology to support the sustainable use of natural gas.
In an infographic, the IDSC said that Egypt’s liquefied natural gas exports increased from 1.5 million tons in 2020 to 6.5 million tons in the following year.
Baerbock would discuss cooperation in preparation for COP 27 conference due to convene in Sharm El Sheikh In November 2022.
During the EGAS’s general assembly meeting, Minister of Petroleum and Mineral Resources Tarek El Molla said on Thursday it is expected that the exports will go up to 7.5 million tons by the end of this fiscal year.
German FM’s visit to Egypt comes amid the ongoing Ukraine-Russia crisis as Europe fears possibly cutting off natural gas supply; Egypt is right now seen as a possible key supplier of natural gas to Europe.
The share of the Egyptian natural gas to Lebanon is estimated at 650 million cubic feet, he said.
President Sisi directed the government to meet these demands as quickly as possible.
Egypt’s President has directed to expedite efforts to supply Lebanon with the Egyptian natural gas required for power generation, Prime Minister Mostafa Madbouli told his Lebanese counterpart, Najib Mikati, on Thursday.
This came on the sidelines of the 6th Ministerial Meeting of the East Mediterranean Gas Forum held in Cairo.
The government was considering implementing the automatic pricing mechanism on a 6-month scale, but revised it to be between 3 and 4 months.
He added that the quantities of gas consumption of homes are targeted to reach 7 percent during the next fiscal year as a result of the intensification of projects to deliver natural gas to homes.
Lebanon suffers from a crisis in fuel and electricity within a severe economic crisis, which makes a room for questioning about who would pay for exporting the gas to the Lebanese lands.
Egypt will export natural gas to Lebanon in the coming weeks, Minister of Petroleum Tarek el-Mulla said in a Tuesday press conference.
"Egypt is working to speed up coordination for delivering the Egyptian natural gas to Lebanon through Jordan and Syria,” said Tarek El Molla.
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