Total, Eni approve Cyprus gas project tied to Egypt LNG route
TotalEnergies and Eni have approved development of the Cronos gas field offshore Cyprus, a project that will route gas through Egypt’s LNG export infrastructure with first production expected in 2028.
Egypt close to sealing term LNG supply deal worth up to $11bn
Egypt is close to sealing a multi-year LNG supply deal that could lock in 15 to 18 cargoes a month for at least three years. Reuters calculations put the deal value at $8-11 billion a year, depending on pricing and volume, with final terms still under negotiation.
Egypt emerges as prominent destination for US cargoes
Attention has fixed on the rotation of US cargoes from Europe to Asia, but a third destination has been quietly absorbing Atlantic supply. Counted by sailing date, US terminals despatched 20 cargoes to Egypt in June, double May's ten and the most in any month on record.
Egypt rushes for LNG as summer power demand tops 40 GW
Egypt is seeking to import more LNG as electricity demand this summer is forecast to rise 8% above last year’s peak of 40 Gigawatt. Regasification capacity has been maximised, while the Damietta LNG export terminal gets used to store cargoes for emergency use.
Cyprus gas to be commercialized via Egypt LNG route
QatarEnergy, ExxonMobil and Egypt have agreed to assess commercializing Cyprus gas discoveries via Egypt’s existing LNG infrastructure. Supply from the Aphrodite discovery, estimated at 4.5 trillion tcf, will be routed to Egypt’s underutilized liquefaction plants at Idku and Damietta, with 12.2 mtpa capacity combined.
Chevron takes FID on Israel’s Leviathan field expansion
US oil giant Chevron has taken a final investment decision (FID) to expand gas production at the Leviathan field in Israel in a bid to boost gas supplies to neighbouring Egypt, which exports LNG to European buyers.
Egypt seals $1.8bn in clean energy contracts to curb LNG demand
The Egyptian government has signed contracts worth more than $1.8 billion with Norway’s Scatec and China’s Sungrow in a bid to expand clean power generation and reduce LNG import dependency.
First cargo arrives at Egypt’s FSRU in Damietta
Arrival of the first cargo marks the launch of EGAS’ new floating storage and regasification unit (FSRU) in Damietta. The ‘Energos Winter’, a 138,250-cubic-metre vessel, has been chartered at an estimated cost of $3 million per month, complementing the existing FSRU at Ain Sokhna.
Shell LNG cargo from Egypt’s Idku en route to Italy
The Shell-operated tanker ‘New Nature’ is heading for Italy, carrying 155,000 cubic meters of LNG from the Idku terminal in Egypt. The shipment reflects the Egyptian Petroleum Ministry’s quest to boost exploration in West Delta Deep Marine (WDDM) concession.
Growing gas deficit forces Egypt to arrange more LNG imports
Egyptian Natural Gas Holding Company (EGAS) strives to source more LNG to meet the country’s growing gas deficit via a second floating regas terminal. The ‘Energos Winter’ FSRU, chartered from New Fortress Energy, is currently en route to Damietta Port, where it will join the Energos Eskimo before the end of August.
