image description
image description
Tell A Friend

Latest News

  • 12-06-23

    Egypt, Jordan Forge Strategic Energy Partnership to Enhance Gas Supply, Collaboration

    (MENAFN) Egypt and Jordan have recently entered into a collaborative agreement that paves the way for Egypt to utilize the floating storage regasification unit (FSRU) located at the Sheikh Sabah port in Aqaba, Jordan. FSRU terminals play a vital role in the liquefied natural gas (LNG) value chain, serving as the intermediary between LNG carriers and the local gas supply infrastructure.

    Under this agreement, Jordan will receive LNG from Egypt and, if required, will send back a portion of the natural gas through cross-border pipelines to Egypt. The primary objective of this agreement, as stated by Egypt's Ministry of Petroleum and Mineral Resources, is to reduce the operational costs associated with LNG storage and regasification, while ensuring a secure and stable gas supply for both countries.

    In addition to the FSRU cooperation, Egypt's state-owned company, the Egyptian Natural Gas Holding Company (EGAS), and the Jordanian-Egyptian company Fajr have joined forces to collaborate on supplying natural gas to Jordan's industrial sector. This collaboration takes advantage of the existing infrastructure that extends from Egypt to Jordan, aiming to enhance the operational efficiency and cost-effectiveness of Jordan's electricity system while strengthening the energy security of both nations.

    The collaborative agreement was formally signed by Saleh Kharabsheh, Jordan's Minister of Energy and Mineral Resources, and Tarek El-Molla, Egypt's Minister of Petroleum and Mineral Resources. The signing of this agreement signifies the commitment of both countries to foster closer ties in the energy sector, promote regional cooperation, and leverage each other's resources to meet their respective energy needs efficiently and sustainably.

    MENAFN12062023000045014228ID1106425206

View the Financial News Archive
 

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2023 BBK  |  All Rights Reserved