The agreement will then be an umbrella for a new set of agreements, the minister said.
The Russian-Ukrainian conflict has brought Egypt and the European Union even closer together, as its Commissioner Ursula Von Der Leyen described the North African country as a “trustworthy partner” in its Wednesday visit to Cairo and thus would be one of the EU’s energy suppliers.
“We look forward to bringing more US businesses to Egypt to explore the economic and environmental benefits private sector technologies and services can offer,” Clark said.
Egypt is implementing electrical interconnection projects in the coming period, with capacity of approximately 9 thousand megawatts.
Enviro2b expected that Egypt would be able to secure 22 percent of European energy needs by 2025.
With a $1.8 billion investment from British Petroleum (BP), the country’s gas output is expected to reach peak production in 2019.
Final contracts for Hamrawein coal-fired power plant expected to be signed in September during President Abdel Fatah al-Sisi’s visit to Beijing, China.
The daily production of the new well is estimated at 5,000 barrels which make it more important than the first well with a daily production of 2,300 barrels.
Mohamed Shaker announced July 3 the establishment of a major power station in Moussa Water Spring (Ayoun Moussa) in Sinai.
President Abdel Fatah al-Sisi stressed Wednesday that Egypt has adopted a comprehensive and ambitious strategy to develop the electricity system in full.
64 BCM of natural gas from Israel’s Tamar and Leviathan reservoirs will be exported to private Egyptian company Dolphinus for over a decade for $15 billion.