Jordan aims to import a third of its gas from Egypt

Jordan began importing natural gas from Egypt two months ago. (Shutterstock)
Updated 13 November 2018

Jordan aims to import a third of its gas from Egypt

  • Jordan began importing natural gas from Egypt two months ago
  • Increasing imports significantly would depend on construction of a pipeline between Jordan and Iraq which has yet to be built

DUBAI: Jordan aims to increase natural gas imports from Egypt to cover a third of its demand eventually, the Jordanian energy minister said on Tuesday.
Jordan began importing natural gas from Egypt two months ago but increasing imports significantly would depend on construction of a pipeline between Jordan and Iraq which has yet to be built.
Hala Zawati, Jordanian minister of energy and mineral resources, estimated Jordan’s gas demands in 2019 at around 350 million cubic feet per day.
“Jordan started receiving natural gas from Egypt since September. It’s on (an) experimental basis for the pipeline but we hope in the beginning of 2019 to increase these amounts,” she said.
“We have not yet agreed with Egypt. Now there are negotiations on how much will be pumped but we hope at least one third of the country’s requirements will be taken from Egypt,” she added, without giving a timeframe for reaching that goal.
Asked about the pipeline which will eventually connect the southern city of Basra in Iraq with Jordan’s Red Sea port of Aqaba, Zawati said: “We’ve had discussions with Iraq that started years ago. It was approved by the Jordanian cabinet, and now we are waiting for the Iraqi side to start working on the pipeline.”
“It’s still there as an idea but has not (yet) materialized... the political situation did not allow for that pipeline to materialize.”


Japan warns about risks to economy as outbreak toll mounts

Updated 2 min 1 sec ago

Japan warns about risks to economy as outbreak toll mounts

  • China is Japan’s second-largest export destination

TOKYO: Japanese Economy Minister Yasutoshi Nishimura on Tuesday warned that corporate profits and factory production might take a hit from the coronavirus outbreak in China that has rattled global markets and chilled confidence.

Asian stocks extended a global selloff as the outbreak in China, which has killed 106 people and spread to many countries, fueled concern over the damage to the world’s second-largest economy — an engine of global growth.

“There are concerns over the impact to the global economy from the spread of infection in China, transportation disruptions, cancelation of group tours from China and an extention in the lunar holiday,” Nishimura said.

“If the situation takes longer to subside, we’re worried it could hurt Japanese exports, output and corporate profits via the impact on Chinese consumption and production.”

China is Japan’s second-largest export destination and a huge market for its retailers. The Chinese make up 30 percent of all tourists visiting Japan and spent nearly 40 percent of the total sum foreign tourists used last year, an industry survey showed.

The outbreak could hit Japanese retailers and hotels, which count on a boost to sales from an inflow of Chinese tourists visiting during the lunar holiday.

Automaker Honda Motor, which has three plants in Wuhan, the epicenter of the outbreak, plans to evacuate some staff. Economists at SMBC Nikko Securities estimate that if a ban China has imposed on overseas group tours lasts another six months, it could hurt Japan’s economic growth by 0.05 percent.

Some expect the potential damage could be much worse.

Hideo Kumano, chief economist at Dai-ichi Life Research Institute, said the decline in tourists from China could hurt Japan’s GDP growth by up to 0.2 percent.

“The biggest worry is the risk the negative impact from the outbreak persists and hits (the economy) during the Tokyo Olympic Games,” when a huge number of Chinese tourists are expected to visit Japan, he said.