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Gas production in first four months of this year amounted to 24.6m tonnes

Osama El Bakly, chairperson of the Egyptian Natural Gas Holding Company (EGAS), said that production of gas in the first four months of 2018 reached about 24.6m tonnes. El Bakly told Daily News Egypt that the volume of natural gas consumption reached 24.9m tonnes, whereby the household, electricity, and industry sector account for most of …

Mohamed Farag

Parliament approves oil, gas exploration agreement in North Sinai maritime zones

The Egyptian Parliament’s energy committee approved an agreement for oil and gas exploration in the North Sinai maritime concession area (NOOR) in the Mediterranean Sea. The deal is between the Italian company Eni and the Egyptian Natural Gas Holding Company (EGAS). MP ElSayed Hegazy, a member of parliament’s energy committee, told Daily News Egypt that …

Mohamed Farag

EGAS aims to increase revenues to EGP 2bn next year

The chairperson and managing director of the Egyptian Natural Gas Holding Company (EGAS), Yasser Salah El-Din, said that the company aims to increase its civil and mechanical works to EGP 250m and increase the company’s total revenues to EGP 2bn in 2018/2019. That is a targeted increase in annual business value estimated at EGP 300m. …

Sara Ibrahim

Israeli gas imports suspension lawsuit: Another stumbling block to Egypt’s energy hub aspirations

Cairo Administrative Court referred on Tuesday a lawsuit demanding the suspension of the approval of natural gas imports from Israel, for violating the Egyptian Constitution and Law No 196 of 2017 regulating the gas market to the State Council Commissioner Authority (SCCA). The lawsuit alleges that allowing natural gas imports from the “Zionist entity” endangers …

Mohamed Samir

Yorktown to sell Egypt-based oil, gas company Merlon International

The New York-based private equity firm Yorktown Partners is reportedly planning to sell its Egypt-focused oil and gas company Merlon International, Reuters reported on Saturday. According to the reports, the firm aims to raise up to $400m, and the sale will be run by Citigroup, with expected bids planned to be concluded by July. Merlon …

Mohamed Samir