DESFA lands LNG project in Kuwait - KATHIMERINI

11 December 2020 : 22:21
Chryssa Liaggou

Greece’s gas grid operator is making a dynamic entry into the international scene after landing a significant project in Kuwait.

The Hellenic Gas Transmission System Operator (DESFA) has undertaken the operation and maintenance of a new liquefied natural gas (LNG) terminal under construction in the Gulf country, which is expected to start operating in 2021.

DESFA outbid six other suitors short-listed by KIPIC, a subsidiary of the state oil company of Kuwait, to secure the management and maintenance of the LNG station being constructed at al-Zour, some 90 kilometers from the country’s capital city.

The Greek company announced that the contract it has secured with KIPIC will last for a minimum of five years, and DESFA earned it after the completion of the second and final stage of the tender.

It added that a key role in its successful bid belonged to the high specialization and expertise of DESFA’s stakeholders, Snam and Enagas, and to the experience that the Greek gas grid operator has gained from managing the country’s transmission system and the LNG terminal on the island of Revythousa.

Egypt Gas inks LE 152.17m contract with ARABCO - EGYPT TODAY

Mon, Oct. 23, 2017

CAIRO – Egypt Gas signed a contracting agreement with the Kuwaiti firm Al Rabiah Construction Company (ARABCO) for KWD 2.6 million (L.E 152.17 million or $8.1 million).

This agreement comes as a part Egypt Gas’s plan to expand outside Egypt, according to a statement issued on Monday.

The contract has a duration period of 18 months, starting from 2018. The return on the agreement is estimated at LE 10 million ($566,692). This rate was taken into consideration when calculating Egypt Gas’ fair value (FV).

In early October, the Egyptian Financial Supervisory Authority (EFSA) approved the FV of Egypt Gas at LE 175.39 per share. At the stock level, Egypt Gas started Monday’s session at LE 224.10.

Egypt Gas is a natural gas company established by the Minister of Investment Affairs for the purpose of carrying out the implementation of natural gas projects as a general contractor and to all work associated with and related to those activities.

How is the Egyptian General Petroleum Authority coping with fuel shortages after Saudi Arabia rescinded on a deal to provide Egypt with petrol and diesel shipments - ZAWYA / AL AHRAM WEEKLY

18 March 2017

Ahmed Ismail

Egypt’s Ministry of Petroleum and Mineral Resources is seeking a deal with the Iraqi government to import around one million barrels of crude oil to meet some of the Egyptian market’s petroleum needs after the Saudi company Aramco stopped deliveries of petrol and diesel fuel to Egypt in October.

According to Tarek Al-Hadidi, CEO of the Egyptian General Petroleum Authority (EGPA), the first shipment of Iraqi crude oil is scheduled in March “to be processed at Egyptian refineries and produce petroleum outputs for the domestic market.”

Egypt to receive first shipment from Iraqi oil deal in March: Ambassador - AHRAM ONLINE

Monday 27 Feb 2017Menna Alaa El-Din

Iraq is expected to deliver in March the first oil shipment to Egypt as part of a one-year agreement reached by the two countries in late 2016, Iraqi Ambassador to Cairo Habib Al-Sadr said on Monday.

In an interview with Al-Ahram daily newspaper, Al-Sadr said the first batch, set at one million barrels per month, would be delivered at the end of March 2017, adding that the deal should bridge the gap between oil production and consumption in Egypt.

The ambassador, who took office two months ago, said he had been working "behind closed doors" to speed up the shipment's delivery, given its importance for both countries.

Egypt has 6.7 mn tonnes of unused refining capacity - Oil Minister - ENTERPRISE

Wednesday, 30 November 2016

Egypt’s refineries are working at less than 80% of their capacity, Oil Minister Tarek El Molla told Al Borsa. The refineries have an annual capacity of 33 mn tonnes, but only process 26.3 mn tonnes, including 3.4 mn tonnes of Kuwaiti crude, he said.

Kuwait to supply Egypt with 2 million barrels of oil a month - FOX NEWS / ASSOCIATED PRESS

November 15, 2016

CAIRO – Egypt's state news agency says Kuwait has agreed to supply Egypt with 2 million barrels of crude per month, starting in January.

Tuesday's announcement comes more than a month after Saudi Arabia halted previously agreed fuel shipments to Egypt as differences over the conflicts in Syria and Yemen strained ties between the two nations.

The Saudi move has ratcheted up pressure on Egypt as it tries to revive a battered economy and overcome a shortage of dollars.

Cairo floated its currency this month and significantly hiked fuel prices.

The MENA news agency says that under the deal with Kuwait, Egypt will get the crude at international prices with no discounts, but with a nine-month grace period.

Kuwait holds talks with Petroleum Ministry to refine oil in Egypt - ENERGY EGYPT / MUBASHER

June 19, 2016

KPCA delegation from Kuwait Petroleum Corporation (KPC) had talks with the Egyptian petroleum minister over the possibility of refining the Kuwaiti oil in Egyptian refineries, according to a statement issued on Friday.

The studies included the increase of shipping and storage facilities in SUMED’s location in Ain Sukhna and Sidi Kerir, as well as raising storage capacity.

This steps comes in line with Kuwait’s strategy for increasing oil production to 4 million barrels a day by 2020, and exploiting Egypt’s strategic platform to expand in Europe, said KPC’s director general Nabil Bouresli.

He clarified that Kuwait intends to expand in the African market, by entering the Egyptian market.

Egypt dreams of new pipelines crossing the Red Sea - ABO (About Oil)

Alessandro Scipione (Agenzia Nova) - June 15, 2016

The latest agreement between the government of Cairo and Aramco is just one of the pieces that make up Egyptian strategy, created to transform the country into a regional energy hub. The aim is ambitious but feasible with the financial help of the Gulf countries

Egypt could become a world class energy hub, not only due to recent gas discoveries in the Eastern Mediterranean, but also due to the black gold arriving from Saudi Arabia. This is the aim of the lucrative agreement signed during Saudi King Salman’s first visit to the Land of the Pyramids. The agreement will ensure large supplies of oil at discounted prices: approximately 700,000 tons of oil products per month - respectively, 400,000 tons of diesel, 200,000 tons of gasoline and 100,000 tons of mazut - amounting to a total of €23 billion, to be paid within 15 years at an interest rate of 2%. The Saudi Fund for Development will directly pay the energy giant Aramco the cost of supplies, enabling the Egyptian General Petroleum Corporation (EGPC) to pay calmly.

Edison looks to sell part of Egypt’s Abu Qir field | Energy Egypt - Reuters

Edison Abu Qir (Source: Edison Website)

JANUARY 15, 2016 / ENERGY EGYPT

Edison, Italy’s No. 2 energy company owned by France’s EDF, is trying to sell part of its Abu Qir field in Egypt and has opened the books to prospective buyers including Kuwait’s KUFPEC, people familiar with the matter said.

Edison, which paid around $1.4 billion for the field in 2009, owns all exploration and production rights at Abu Qir but manages it in a joint venture with Egypt’s EGPC.

“The data room is open and KUFPEC is one of at least four companies that have had a look,” one source said.

A second source also reported the Kuwaiti company’s interest along with others but said the fall in oil prices was slowing the process.