Eni & EGAS Agree to Increase Egypt’s Gas Production & Supply

Source: www.oilegypt.com 4/13/2022, Location: Africa

The Chairman of EGAS, Magdy Galal, and the COO Natural Resources of Eni, Guido Brusco, signed in Cairo a framework agreement that will allow to maximize gas production and LNG exports. The agreement aims to promote Egyptian gas export to Europe, and specifically to Italy, in the context of the transition to a low carbon economy.

The parties agreed to valorize Egyptian gas reserves by increasing jointly operated gas activities and identifying opportunities to maximize short-term gas production. Eni will also optimize the exploration campaigns in existing blocks and in the newly acquired acreage in the Nile Delta, Eastern Mediterranean and Western Desert regions. This agreement, together with the one signed for the restart of Damietta liquefaction plant last year, will provide LNG cargoes for overall volumes of up to 3 BCM in 2022 for Eni LNG portfolio bound to Europe and Italy.

Eni has been present in Egypt since 1954, where it operates through the subsidiary IEOC. The company is currently the country's leading producer with an equity hydrocarbon production of approximately 360,000 barrels of oil equivalent per day. In line with its strategy to reach net-zero by 2050, Eni is engaged in a set of initiatives aimed at decarbonizing Egypt’s energy sector, including the development CCS plants, renewable energy facilities, agrofeedstock for biorefining, and others.


Nigeria >>  6/27/2022 - The British independent energy company Savannah Energy PLC is pleased to announce that Central Horizon Gas Company Limited ("CHGC"), a subsidiary of A...
Australia >>  6/24/2022 - Key points:
• The Gas Sales Agreement (GSA) negotiation period with CleanCo Queensland Limited (CleanCo) has been extended until the earlier of e...


Ukraine >>  6/23/2022 - EBRD lends Moldova €300 million to boost energy security through strategic gas acquisitions - Revolving loan will be on-lent to state-owned energy tr...
Nigeria >>  6/22/2022 - Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that...

United States >>  6/22/2022 - Today, INEOS Energy and Sempra Infrastructure signed a heads-of-agreement for the possible supply of 1.4 million tonnes of LNG annually from North Ame...
United States >>  6/22/2022 - Cheniere Energy, Inc. announced that two of its subsidiaries, Sabine Pass Liquefaction, LLC (“SPL”) and Cheniere Marketing, LLC (“Cheniere Marketing”)...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.