Egypt petroleum ministry keen to resolve gas export disputes: Official

Egypt petroleum ministry keen to resolve gas export disputes: Official
Gas tanks are seen in the desert north of Cairo. (Reuters)
Updated 20 February 2018

Egypt petroleum ministry keen to resolve gas export disputes: Official

Egypt petroleum ministry keen to resolve gas export disputes: Official

CAIRO: Egypt’s petroleum ministry on Tuesday said that it was keen to resolve any gas export disputes.
Officials said Egypt was right to import gas “from Cyprus or from anywhere else” in its quest to become a regional energy hub. The statements followed Monday’s announcement of a $15 billion deal to export Israeli gas to Egypt.
Ministry spokesman Hamdi Abdel Aziz was quoted by local news website Masrawy saying “receiving gas from Israel is part of solutions to reach an agreement on disputes between companies before the international arbitration court.”
A Reuters report said on Monday that an Egyptian company would buy $15 billion of Israeli natural gas in two 10-year agreements.
The partners in Israel’s Tamar and Leviathan offshore gas fields said they would supply the private Egyptian firm Dolphinus Holdings with around 64 billion cubic meters of gas over a decade — with half coming from each field, and the proceeds shared equally.
Israeli Prime Minister Benjamin Netanyahu said the agreements would “strengthen our economy (and) strengthen regional ties.”
Israel’s Delek Group and Texas-based Noble Energy have led both gas projects.
“Egypt is becoming a real gas hub,” Yossi Abu, CEO of Delek unit Delek Drilling, told Reuters. “This deal is the first deal of potentially more to come.”
Egyptian Petroleum Minister Tarek El-Molla told the private Egyptian television channel “ON E that” outstanding disputes would have to be resolved for the deal to go through.
Molla’s comments refer to Egypt’s challenge to a 2015 ruling by the International Chamber of Commerce ordering the country to pay $2 billion in compensation after a deal to export gas to Israel via pipeline collapsed in 2012 due to months of attacks by insurgents in Egypt’s Sinai peninsula.
“We don’t mind importing gas from Israel, but we have terms in order (to allow) something like this to happen ... most importantly, the settlement of ongoing arbitration,” Molla said.
An Egyptian government official who declined to be identified said the deal did not mean Egypt itself would import any gas from abroad.
“International private companies will import gas from abroad in the framework of their own needs, and will liquefy and export them again,” the official said, without elaborating.


Egypt agrees deal for $23 billion high-speed rail link

Egypt agrees deal for $23 billion high-speed rail link
Updated 15 January 2021

Egypt agrees deal for $23 billion high-speed rail link

Egypt agrees deal for $23 billion high-speed rail link
  • Work to build the 15 stations included in the project is expected to be completed within two years

CAIRO: Egypt signed a deal with German giant Siemens on Thursday to build a $23 billion high-speed rail line linking the Red Sea and Mediterranean coasts.

The electric railway will run for more than 1,000 kilometers from Ain Sokhna on the Red Sea to New Alamein on the Mediterranean coast, passing through a new administrative capital being built east of Cairo.

Egyptian President Abdel Fattah El-Sisi reviewed the final agreement with Siemens on the project, which is expected to start immediately.

Work to build the 15 stations included in the project is expected to be completed within two years.

The announcement of the express rail link came after El-Sisi met with Joe Kaiser, president and CEO of Siemens, and Roland Bush, the company’s executive vice president, together with Egyptian Prime Minister Mostafa Madbouly and Transport Minister Kamel El-Wazir.

El-Sisi said that the new electric line “will represent a significant addition to the country’s transport network in terms of trade and passenger transport.”

El-Wazir said that the project will link the new administrative capital and new cities, carrying passengers and goods through a “fast, modern and safe means of transport.”

Soil research, surveying and route planning has been completed, and work is underway building bridges and the track, he added.