Energy – Daily News Egypt https://ww.dailynewssegypt.com Egypt’s Only Daily Independent Newspaper In English Tue, 23 Jul 2019 21:08:44 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.1 Egypt to present logistical capabilities to regional countries in Eastern Mediterranean Gas Forum https://ww.dailynewssegypt.com/2019/07/23/egypt-to-present-logistical-capabilities-to-regional-countries-in-eastern-mediterranean-gas-forum/ Tue, 23 Jul 2019 20:51:38 +0000 https://www.dailynewsegypt.com/?p=703368 Cairo to host forum meetings on Tuesday, Thursday

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The preparatory meetings of the Eastern Mediterranean Gas Forum will be held in Cairo on Tuesday, ahead of the second ministerial meeting of the forum, which will be held on Thursday at the invitation of Minister of Petroleum and Mineral Resources Tarek El-Molla.

A source in the oil sector told Daily News Egypt that the meeting would present the possibilities available to Egypt including pipelines and liquefaction plants that contribute to its transformation into a regional natural gas hub.

He pointed out that the forum will support producing countries by enhancing their cooperation with consuming and transitory parties in the region, taking advantage of existing infrastructure in Egypt and developing further infrastructure options to accommodate current and future discoveries.

The meeting will be attended by El-Molla, as well as oil and energy ministers in a number of Mediterranean countries, such as Cyprus, Greece, Jordan, Israel, Palestine, and Italy, in addition to the United States, represented by Secretary of Energy Rick Perry. The European Union is also represented by the European Commission for Energy and Climate Affairs.

The preparatory meetings, with the participation of representatives of the seven members of the forum, will discuss the agenda of the ministerial meeting and the topics to be presented to the ministers.

In January, Eastern Mediterranean countries meeting in Cairo agreed to establish the forum to create a regional gas market, cut infrastructure costs and offer competitive prices.

The forum include Egypt, Cyprus, Greece, Israel, Italy, Jordan and the Palestinian Authority, other Eastern Mediterranean countries and transitory countries may join the forum later, the ministry said at the time .

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Egypt’s gas exports through Idku increase to 750m scf/day https://ww.dailynewssegypt.com/2019/07/21/egypts-gas-exports-through-idku-increase-to-750m-scf-day/ Sun, 21 Jul 2019 20:20:59 +0000 https://www.dailynewsegypt.com/?p=703195 Connecting Giza, Fayoum fields contributed to increasing export quantities, according to EGAS

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The Egyptian Natural Gas Holding Company (EGAS) estimated the quantities of natural gas exported through Dutch Shell’s Idku gas liquefaction plant at 750m cubic feet per day (scf/day) compared to 500m scf/day last month.

A source at EGAS told Daily News Egypt that the quantities of gas exported through Idku have increased after linking 250m scf/day of the Giza and Fayoum fields to the local production.

He explained that the quantities of gas that are directed to export through Idku are decided based on the shipments contracted to be supplied during the current period on a usual basis, with the regular pumping through the national grid of gases.

The source added that the quantities of natural gas exports through Idku plant for liquefaction have increased, making Egypt strongly return to international markets, after achieving self-sufficiency locally.

The structure of ownership of the Idku plant is 12% for the General Petroleum Corporation, 12% for EGAS, 34.5% for Shell, 35.5% for Petronas, and 5% for Gaz de France.

The source explained that the quantities of gas directed for export through Idku gradually increased. This is after increasing domestic production and the decline in consumption, while meeting the full needs of the industrial sector, power plants, cars, and homes.

He said that the plan of the ministry of petroleum and mineral resources is to connect the wells of Zohr, North Alexandria, and Borollos, according to the timetable for each stage as it contributes to increasing domestic production and covers consumption rates. This is alongside the operation of power plants, in addition to the gas coming from Cyprus and Israel.

The contractual share of Idku is estimated at 1.13bn scf/day. Pumping rates have decreased since 2011 due to the decline of Egypt’s natural gas production after the January 25 Revolution until it stopped completely since the beginning of 2015.

Idku is designed to operate for 340 days each year and stops production for a month for the maintenance of units, which costs $20m.

Egypt’s natural gas output rose to 6.8bn scf/day, compared to the 6.2bn scf/day last year, after linking gas production from the second phase of the West Nile Delta project to North Alexandria and a number of other wells.

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Egypt holds community consultation session for Hamrawein coal plant August 30 https://ww.dailynewssegypt.com/2019/07/21/egypt-holds-community-consultation-session-for-hamrawein-coal-plant-august-30/ Sun, 21 Jul 2019 14:35:04 +0000 https://www.dailynewsegypt.com/?p=703162 Session includes presentation of specifications, technology used, security, safety standards

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The ministry of electricity and renewable energy decided to hold a community consultation session to assess the environmental and social impacts of the Hamrawein coal power station on August 30 in El-Quseer City.

Sources told Daily News Egypt that the meeting was scheduled to take place on July 10, but was postponed due to the other commitments of a large number of officials and leaders of the ministry. The session will be held in the presence of the project consultant.

The sources added that the meeting is considered one of the steps that should be followed to inaugurate the station. The session will include clarification on the importance of the project and the technology used, stressing that it will be implemented with the highest standards of safety and security.

The sources pointed out that the land allocated for the implementation of a clean-coal plant to produce electricity in the area of Hamrawein has been prepared, and all studies were completed. Additionally, all licenses and approvals required for the project were issued.

The station will operate with supercritical pressure technology, one of the latest systems in coal power plants to produce electricity.

Moreover, a port will be built to directly receive coal into a closed storage area, in accordance with the environmental requirements of Egyptian Law.

The Shanghai Electric-Dongfang-Hassan Allam alliance won a contract to build a coal-fired power plant in Hamrawein after offering the lowest financial offer of $4.4bn to produce 6,000MW and six years of construction.

According to the agreement with the Holding Company for Electricity, the Shanghai Electric-Dongfang-Hassan Allam alliance will be responsible for the construction, design, installation, and operation of the Hamrawein station, as well as the provision of banking facilities to fund the project.

The China Development Bank made a bid to lend the Electricity Holding Company $3.7bn to fund the coal-fired plant in Hamrawein area, and the company is still discussing the offer with the Chinese side.

The sources pointed out that the Shanghai Electric alliance is responsible for bringing bids from the banks, and the Electricity Holding Company has the right to accept or reject the offer after reviewing the conditions, and the manner of financing.

The project is implemented under the system EPC + Finance.

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Government hedges against oil price increase at under $70 per barrel https://ww.dailynewssegypt.com/2019/07/20/government-hedges-against-oil-price-increase-at-under-70-per-barrel/ Sat, 20 Jul 2019 19:53:20 +0000 https://www.dailynewsegypt.com/?p=703125 Renewal of hedging contracts every 3 months with review of oil value in markets: Source

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The ministry of petroleum and mineral resources, and the ministry of finance agreed to renew the hedge against the rise in oil prices in the global market during the first quarter of the current fiscal year (FY), at a price less than $70 a barrel, which the government has hedged over the past period.

A government source told Daily News Egypt that the government reviewed the expectations of the change in the price of a barrel of oil in world markets after a sudden decline during the second half of 2018/19.

He noted that the hedging price would be revised on a quarterly basis with the investment banks JPMorgan and Citibank to agree on the price of the barrel and renew the hedge contract with the banks.

The source added that political volatility in the region contributed to the decline of the price of a barrel of oil to $60. This is contrary to the expectations of the market and international companies that based their prediction on rising oil prices in the coming period.

He pointed out that the state budget has borne a big difference on international prices for the investment banks, JPMorgan and Citibank, contracted to hedge against the risks of rising prices of petroleum products globally over $70.

The average price of a barrel of oil during the last FY was estimated at $65, thus the state budget will be bearing a difference of $5 for the investment banks due to the sudden fluctuations in the world markets.

He pointed out that the government renewed the agreement to apply the precautionary mechanism of the high prices of shipments of petroleum products during the FY 2019/20, to protect the budget from the financial risks resulting from the fluctuation of oil prices globally.

In its latest financial statement, the ministry of finance said that the latest global estimates indicate that world oil prices will stabilise in 2019 at levels ranging from $65 to $70 per barrel, according to the future prices of oil purchase contracts and the International Monetary Fund (IMF) forecasts, as opposed to those in the global markets due to political fluctuations.

The financial statement for the 2019/20 budget indicated that the implementation of the hedging mechanism aims to protect the current FY budget from the financial risks resulting from fluctuating world oil prices and to reduce any negative effects on the subsidy bill.

The reduction of subsidies for petroleum products in the new budget project amounted to EGP 36.112bn. The government allocated EGP 52.963bn compared with EGP 89.075bn in the current FY 2018/19.

The reduction was about 40.5%, and a decrease of EGP 35.476bn from the expected results. The government explained that fuel subsidies were calculated based on the average price of Brent crude of $68 a barrel.

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Oil prices slightly regain ground, Brent reaches $64.93 per barrel https://ww.dailynewssegypt.com/2019/07/18/oil-prices-slightly-regain-ground-brent-reaches-64-93-per-barrel/ Thu, 18 Jul 2019 06:20:43 +0000 https://www.dailynewsegypt.com/?p=703042 Price recovery backed by supply tightening, future disruptions due to Gulf tensions, says IHS Markit

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Oil prices on Wednesday regained a little ground lost in the previous session, weighed down by industry data suggesting United States crude inventories fell less than expected.

Brent crude futures gained 58 piasters to $64.93 per barrel, while West Texas Intermediate crude futures were up 36 piasters at $57.98 per barrel.

Oil prices have recovered significantly last week primarily due to the continued decline in US crude inventories.

Egypt’s budget for the fiscal year (FY) 2019/20 set the price of Brent crude at $68 per barrel, up from $67 per barrel in the FY 2018/19.

According to a research note by IHS Markit, this suggests that supply has further tightened, especially in combination with increased risk of future disruptions related to the rising tension in the Arab Gulf.

As the real numbers exceeded earlier expectations, the market reacted by pushing oil prices higher, the note explained. Brent flirted with $68 per barrel, while West Texas intermediate surpassed $60 per barrel, the highest since late May.

Yet, the research note indicates that the current sentiment in the market seems to have changed, as stockpiles shrank by around 3.5% since reaching the highest level in almost two years in early June.

The declining inventories of the US, together with Iran’s rhetoric, have shaped expectations for tightening supply, even if this happens in parallel to higher concern about declining demand for crude oil.

For Egypt, the country is highly vulnerable to crude oil price fluctuations, as each $1 increase in the Brent crude’s price would cost the state EGP 4bn, according to the country’s finance ministry.

Furthermore, the movements in the oil prices have also been supported by earlier concerns that Tropical Storm Barry could impact crude production in the Gulf of Mexico.

However, crude oil prices have decreased after the weekend as Tropical Storm Barry weakened without any long-lasting disruptions in US infrastructure, according to IHS Markit.

According to data by IHS Markit’s Commodities at Sea, volumes of oil seem to have increased for very large crude carriers (VLCCs) since the beginning of this month having surpassed 625m barrels. Meanwhile, volumes on Suezmaxes, the largest oil tankers capable of transiting the Suez Canal, have been pushed marginally lower, while levels have been rather stable for Aframaxes, the oil tankers smaller than 120,000 metric tonnes.

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Electricity Ministry to launch solar projects under auction scheme in Zaafarana https://ww.dailynewssegypt.com/2019/07/16/electricity-ministry-to-launch-solar-projects-under-auction-scheme-in-zaafarana/ Tue, 16 Jul 2019 19:34:45 +0000 https://www.dailynewsegypt.com/?p=702877 The New and Renewable Energy Authority (NREA) has restored the land plots previously allocated for companies to launch solar power stations within the feed-in tariff programme and will reallocate them to build the proposed power plants, sources in the ministry told Daily News Egypt.

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The Ministry of Electricity considers establishing 200MW solar projects in Zaafarana, Red Sea governorate, under the auction scheme.

The New and Renewable Energy Authority (NREA) has restored the land plots previously allocated for companies to launch solar power stations within the feed-in tariff programme and will reallocate them to build the proposed power plants, sources in the ministry told Daily News Egypt.

They pointed out that discussions between the NREA and the Egyptian Electricity Transmission Company (EETC) are underway to implement these projects. The lands will be allocated through the NREA while the other procedures of selecting companies and purchasing energy are to be conducted through the EETC.

The sources revealed that the EETC is currently working on the completion of two other auctions in West Nile area for the establishment of the 450MW solar and wind stations.

Furthermore, the sources pointed out that the EETC studies all the proposed projects. It currently focuses on ending the crisis of increased cost-sharing fees imposed on investors of solar energy feed-in tariff projects in Benban, Aswan.

The Ministry of Electricity aims to produce 20% of Egypt’s energy from new and renewable sources by 2022, and seeks to open the way for the private sector to invest in such projects.

The NREA plans to boost renewable electricity capacity to about 10GW by 2022 though implementing new projects in cooperation with the private sector.

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Toyota-Orascom-GDF alliance to complete Gulf of Suez wind farm by October https://ww.dailynewssegypt.com/2019/07/16/toyota-orascom-gdf-alliance-to-complete-gulf-of-suez-wind-farm-by-october/ Tue, 16 Jul 2019 09:00:35 +0000 https://www.dailynewsegypt.com/?p=702826 Renewable energy projects attract international companies to invest in Egypt, says El-Khayat

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The Toyota, Orascom, and GD France alliance is due to complete the Gulf of Suez wind farm in October with a total investment of €250m.

About 85% of the project was completed and that the trial operation is due to begin in November. The commercial operation is to start before the end of this year, the New and Renewable Energy Authority (NREA) Executive Chairperson, Mohamed El-Khayat, told Daily News Egypt.

The Egyptian Electricity Transmission Company (EETC) buys energy from the Gulf of Suez wind power at about 3.8 piasters per kW/h.

The Ministry of Electricity and Renewable Energy seeks to produce 20% of Egypt’s energy from new and renewable resources by 2020 as part of the ministry’s plan to diversify sources of energy production and achieve sustainable development in the sector.

El-Khayat confirmed that the NREA has succeeded in attracting foreign investment of about $2bn to implement 1,465MW solar plants, which are financed by international organisations, such as the International Finance Corporation (IFC) with funds worth $653m, and the European Bank for Reconstruction and Development ($500m).

The IFC is leading a consortium of nine international banks that are investing for the first time in renewable energy in Egypt. The bank alliance includes the African Development Bank, the Asian Infrastructure Investment Bank, and the CDC Foundation, among others.

El-Khayat pointed out that Egypt is manufacturing locally some components of renewable energy industry. Some companies assemble solar panels, while the Ministry of Military Production plans to manufacture solar panels. A number of companies assemble and manufacture solar heaters.

He explained that there are attempts to manufacture some parts of wind turbines, such as towers, in addition to manufacturing cables and transformers for all renewable energy systems.

El-Khayat added that the current capacity of renewable energy reaches 1,100MW. Renewable energy now represents 10.5% of the total energy produced in Egypt; 1.5% solar and wind, and 9% hydropower.

He pointed out that renewable energy beats traditional energy in terms of cost easing the burden on the general budget.

Furthermore, he noted that recent economic reforms, such as the liberalisation of local exchange rate and fuel subsidy cuts allowed the government to adopt the BOO scheme, in which the EETC is committed to purchase the energy produced according to the contract price.

El-Khayat added that the NREA has completed the feasibility study for the construction of a 50MW photovoltaic power plant in Zaafarana city in cooperation with the Arab Fund for Economic and Social Development.

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Electricity Ministry negotiates State Grid, Siemens, IBB to establish control centre in NAC https://ww.dailynewssegypt.com/2019/07/16/electricity-ministry-negotiates-state-grid-siemens-ibb-to-establish-control-centre-in-nac/ Tue, 16 Jul 2019 08:40:39 +0000 https://www.dailynewsegypt.com/?p=702827 Talks with Egyptian, international companies to implement integrated system of electricity meters: Sources

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The ministry of electricity and renewable energy began negotiations with China’s State Grid Company, German Siemens, and IBB to set up an interactive control centre in the New Administrative Capital (NAC).

Sources from the ministry told Daily News Egypt that the cost of setting up the centre would be between EGP 1bn and EGP 1.3bn.

The Egyptian Electricity Holding Company (EEHC) will finance the project through loans it received to support the development of transmission and distribution networks and improve the quality of electricity supply to all subscribers.

Egypt currently has six national and regional control centres: the National Energy Control Centre; the Regional Cairo Energy Centre; the Exchange Control Centre in Abbasiya; the Regional Alexandria Control Centre; the West Delta Control Centre, and the Canal Regional Control Centre.

The sources pointed out that five control centres in south and north Cairo, as well as Alexandria electricity companies, are being implemented at a cost of $203m. They are expected to be completed and operating by December 2020.

DNV is consulting with North Cairo Electricity Distribution Company to implement the $44m Cairo Control Centre and the $39m Nasr City Control Centre, which will be completed in December 2020.

Lahmeyer International is also consulting the South Cairo Electricity Distribution Company for the implementation of the Sixth of October and Sheikh Zayed Control Centre at a cost of $58m and the Dokki Control Centre at a cost of $34m. The implementation is due to be completed by the end of December next year.

The DVN office is the consultancy work for the Alexandria Electricity Distribution Company for the implementation of the East District Control Centre at a cost of $28m. The implementation is scheduled for completion in December 2020.

In a related context, the NAC held a meeting with manufacturers and suppliers of electricity meters to implement an integrated system for the installation of meters in the city.

The sources pointed out that the NAC is seeking to launch an integrated system for the installation of electricity meters, according to international standards. It was also meeting with companies to discuss the systems and products to be applied, according to the specific vision of the integrated system.

Moreover, the sources pointed out that officials from the company held discussions with representatives of companies to reach the best specification and controls for the installation of a system of prepaid electricity meters.

The NAC is in talks with Global Tronics, El Sewedy Electrometer, Iskra, El Maasara, ZTE, Huawei, Gamma, Siemens, and Ericsson.

The planned system will help consumers improve energy management, reduce the value of citizens’ bills, provide the ability to prepay, increase the accuracy of meter reading, and reduce the time between meter reading and billing.

It also allows the subscriber to monitor and ration consumption. The meter displays all the data on the remaining balance (kWh), its value in pounds, the number of days remaining in the balance, and the possibility of identifying the electricity consumption segment. The screen can also display contractual capacity.

The ministry of electricity and renewable energy has put in place a plan to install 20m electricity meters over the next 10 years as part of the ministry’s strategy to eliminate reading errors and theft of electricity. A number of companies have started supplying 250,000 meters as a first phase.

The total number of meters to be installed at the North Cairo Electricity Distribution Company in Obour City and Nasr City is about 53,000. 

Moreover, 50,000 smart electricity meters will be installed in the south Cairo area in the Sixth of October and Sheikh Zayed, in addition to 39,000 meters in Alexandria and Borg El Arab.

Additionally, 50,000 electricity meters will be installed in the Suez Canal Electricity Distribution Company in the 10th of Ramadan City, while the South Delta Electricity Distribution Company will install 30,000 meters in Tanta, and the Upper Egypt Electricity Distribution Company will install 28,000 meters in Minya and Assiut.

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Triple M, Tafila Technical University discuss maximising local component in renewable energy https://ww.dailynewssegypt.com/2019/07/16/triple-m-tafila-technical-university-discuss-maximising-local-component-in-renewable-energy/ Tue, 16 Jul 2019 08:20:06 +0000 https://www.dailynewsegypt.com/?p=702821 Hatem Al Romy, chairperson of Triple M, reviewed the company's activities and its role in implementing many projects in Egypt and Jordan and its efforts to benefit from research and science to serve the community development, in addition to localisation of technology.

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The Tafila Technical University in Jordan in cooperation with Triple M Construction held a seminar on renewable energy and its role in the development of the local community.

The seminar discussed means of cooperation between private sector companies, universities, and the government sector for the development of the local community, as well as solving problems of wind energy projects, maximizing the local component, and introducing advanced solutions and technologies.

Hatem Al Romy, chairperson of Triple M, reviewed the company’s activities and its role in implementing many projects in Egypt and Jordan and its efforts to benefit from research and science to serve the community development, in addition to localisation of technology.

He pointed out that cooperation with the Tafila Technical University will be in favour of the community. There are many ideas and proposals that could be agreed upon, including the localisation of wind technology.

“The problem is not in the lack of research, but in the failure to adopt the results of such research. We seek to integrate and cooperate to apply all research and innovations,” he said.

Moreover, Salah Ibrahim, renewable energy consultant at Triple M, said: “Keeping current growth rates in wind and other renewable energy projects and accelerating growth rates requires government action at various levels, including involving the private sector in the development and establishment of renewable energy projects, manufacturing of energy production equipment.” 

He said that the private sector is an active actor with good experience that will contribute to reducing costs and improving efficiency. Governments should also play a key role in activating this sector and encouraging more investments through the development of renewable energy strategies.

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SOLshare wins first prize in Siemens Stiftung’s competition to empower people https://ww.dailynewssegypt.com/2019/07/16/solshare-wins-first-prize-in-siemens-stiftungs-competition-to-empower-people/ Tue, 16 Jul 2019 08:00:03 +0000 https://www.dailynewsegypt.com/?p=702819 Project aims to use solar energy to face electricity shortages

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The SOLbox, a product from Bangladesh’s SOLshare, won the first prize in the Empowering People Award 2019 competition organised by Siemens Stiftung to support entrepreneurs around the world.

The Bangladeshi project, which aims to use solar energy to solve the energy shortages, won €50,000.

Nonspec’s solution Adjustable Prosthetic Pylon won the second place of €30,000. Nonspec was founded in the United States of America in 2014. The enterprise envisages providing affordable medical devices across developing regions in India, Rwanda, Philippines.

Avatar Sign Language Interpreters, developed by Mind Rockets, won €20,000 ranking third. This is a Jordanian project to integrate the marginalised with hearing disabilities into the learning process.

“The award ceremony witnessed a thrilling atmosphere as our finalists put their best foot forward to showcase their social enterprises,” said Rolf Huber, managing director at Siemens Stiftung.

“The winners represent the most impressive local solutions which have great potential to impact people in developing regions around the world,” he added.

Huber explained that the foundation is working separately from Siemens, which allocated, when incepted 10 years ago, €400m to support entrepreneurs. He added that the budget allocated this year was €8m with a focus on the activities of renewable energy solutions and the provision of clean and safe drinking water in areas that lack these basic services.

He told Daily News Egypt, during the ceremony, that the contestants must have business models capable of attracting investment and growth and it also must provide real solutions to solve problems that societies are experiencing with simplified technology.

Each solution in the list of projects that reached the finals was part of a general solution base, which would enhance the feasibility of these projects and open up new avenues for cooperation and funding.

In a tour of projects that qualified for the final list, the projects focus on providing solutions for those with special abilities, whether educational solutions, artificial limbs, learning methods for the hearing impaired, and a project to reduce food waste through an electronic application that allows delivery of food leftovers to those who need it.

This year – the third edition of the award ceremony – saw a record number of entries with about 800 award submissions from 86 countries. The majority of entries came from Africa and Asia, with a strong showing from the Americas. There were 11 projects which reached the finals and were celebrated in Cairo.

Total prizes awarded to the winners amounted to €180,000, in addition to granting 11 projects that reached the finals an exclusive membership in the International Empowering People Network, which supports entrepreneurs and inventors.

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Egypt’s average consumption of gas to score 6.39bn scf/day in 2019/20 https://ww.dailynewssegypt.com/2019/07/15/egypts-average-consumption-of-gas-to-score-6-39bn-scf-day-in-2019-20/ Mon, 15 Jul 2019 18:01:27 +0000 https://www.dailynewsegypt.com/?p=702780 Surplus of local production will be exported through factories, Jordan line: Source

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The ministry of petroleum and mineral resources aims to pump about 6.39bn scf/day, the average consumption of the domestic market, including electricity, factories, houses, and cars during the current fiscal year (FY).

A source in the oil sector told Daily News Egypt that the surplus of the domestic consumption will be directed toward export through the liquefaction plants in Idku and Damietta, along with the Jordan line in case Amman needs more gas.

He pointed to the average surplus of gas after meeting the needs of the local market estimated at 1.56bn scf/day, after the increase of Egypt’s production of natural gas to about 7.95bn scf/day during the current FY, by linking the second phase of the North Alexandria project and the Zohr field production increase.

He added that the average consumption of natural gas in the domestic market is growing annually, according to the industrial and construction development plan and with the increase in the number of cars operating with natural gas.

The projects under implementation will add about 1.15bn scf/day of gas to the current production of 6.8bn scf/day, with a natural reduction rate of about 10% per year of the current total production, the source said.

He pointed out that the production of Zohr in the second stage development will grow to 2.95bn scf/day, instead of the current 2.3bn scf/day.

The source added that the ministry of petroleum and mineral resources is seeking to accelerate the completion of the next stages of projects under implementation in Zohr, North Alexandria, and 9B to accelerate the linking of the entire production projects to compensate for the rate of decline and increase production rates.

In addition to the development of 11 gas projects in various concession areas until 2023, investments estimated at $18bn to compensate for the rates of natural decline and increase production by about 2bn scf/day according to the results of research and exploration.

The average consumption of the domestic gas market will rise to about 9bn scf/day by 2020/21, according to the industrial development plan, increase the production capacity of electricity, and the delivery of gas to homes and convert more cars to work with gas instead of petroleum.

The ministry aims to increase the productivity of the existing gas fields, complete the development of the discovered gas fields, and accelerate the pace of work in order to put them on the production map, thus contributing to compensating for the natural decline in the productivity of the old fields.

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EEHC delays coal-fired plant due to production surplus  https://ww.dailynewssegypt.com/2019/07/15/eehc-delays-coal-fired-plant-due-to-production-surplus/ Mon, 15 Jul 2019 06:20:59 +0000 https://www.dailynewsegypt.com/?p=702705 AlNowais wants project, awaits government decision: Sources

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The Egyptian Electricity Holding Company (EEHC) decided to postpone the signing of contracts with AlNowais Investment Company for the construction of a coal-fired power station in the Oyoun Mousa area.

Sources from the ministry of electricity and renewable energy told Daily News Egypt that the surplus electricity production is the main reason for postponing the signing of the contracts. This is especially since reserves have reached 20,000MW per day and will rise to 22,000MW after the addition of energy from the Gulf of Suez wind farm and solar energy projects in Benban.

In addition, the sources said it is difficult to build a private coal port for the project at Oyoun Mousa because the water there is very shallow, necessitating the construction of the port at a greater depth within the water. Inevitably, this raises the total cost of the station.

Talks with the UAE company, AlNowais, began three years ago. The company officials held more than 50 meetings with officials of the EEHC for electricity to implement a coal-fired power plant at Oyoun Mousa.

The sources pointed out that the studies and paperwork of the project were transferred to EEHC for revision and no new decision was taken since then, noting that the project will not be signed off this year.

“The agreement on the purchase of energy produced from the project was finalized at 4.01 cents per kW/h leaving only the legal aspects of the contract that will be reviewed, but it may take longer,” the source said.

He added that the Belgian consultant, Tractebel, attended all the meetings and discussions, and was briefed on all the technical, financial, and legal aspects of the project after receiving them from the officials at the UAE company.

The sources added that the UAE company is sticking to the project and is waiting for the green light from the government to start working.

Furthermore, the sources also said that the strategy and mix of energy includes the implementation of coal-fired power plants. The EEHC has already taken steps in this context by negotiating with Shanghai Electric to implement a 6,000MW plant in Hamrawein, whose contracts are expected to be completed soon.

A public consultation conference was scheduled to be held in El-Quseer to discuss the Hamrawein coal power plant on Wednesday. However, it was delayed, and another date is yet to be set. No reasons were given for the delay.

The sources pointed out that the EEHC included coal-fired electricity projects in the ministry of electricity and renewable energy’s plan 2022-2027. It may be only a phase of the Hamrawein project.

The sources said that the lack of increased demand for energy will push the EEHC to postpone a number of projects that seek implementation in order to avoid the aggravation of financial burdens.

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Egypt implements 7 refinery projects with $8.031bn in investments: El-Molla https://ww.dailynewssegypt.com/2019/07/13/egypt-implements-7-refinery-projects-with-8-031bn-in-investments-el-molla/ Sat, 13 Jul 2019 17:53:09 +0000 https://www.dailynewsegypt.com/?p=702566 Refineries have pivotal role in transforming Egypt into regional energy hub, says Petroleum Minister

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Egypt is currently implementing seven refining projects throughout the country with estimated investments of $8.031bn, to increase the refining capacity and efficiency of petroleum derivatives production, Minister of Petroleum and Mineral Wealth, Tarek El-Molla, told Daily News Egypt on Saturday.

El-Molla added that a number of replacement and renovation projects are underway at Egyptian refineries, which will have a pivotal role in transforming Egypt into a regional energy hub.


He explained that the expansion of the Middle East Oil Refinery (MIDOR) is being implemented with $2.3bn in investments, with the aim of increasing the refining capacity of the plant by 60%.


The minister said that the Assiut petrol and diesel production complex is currently being constructed for the Assiut National Oil Processing Company (ANOPC) with a capacity of 2.5m tonnes per year of diesel to convert it into high quality petroleum products, with investments of about $1.2bn.


Furthermore, a hydrogen cracking complex, and petrol production project is being established in Suez, for the Red Sea National Company for Refining and Petrochemicals. The capacity of the project is 2.5m tonnes of mazut annually, with investments of $2.5bn.


He referred to the implementation of the unit of production of high octane petrol at the ANOPC to produce about 800,000 tonnes annually of high octane petrol. This is to meet Upper Egypt’s needs of petroleum products with investments of $450m.

Furthermore, El-Molla, said that the development of the coking complex at the Suez Oil Processing Company includes the establishment of a new unit vapor recovery unit (VRU) of gases to produce 1.5m tonnes of liquefied petroleum gas per year, with investment of about $581m.

In addition, the project will also be used for the extraction of the aromatics using in Alexandria Petroleum Company with investments of $21.48m.

Finally, the minister pointed out to the implementation of a unit for the production of paving asphalt with a 60/70 grade at the Suez Oil Processing Company to produce about 396,000 tonnes per year to cover the needs of the local market with investments of about $79.4m.

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Financial bids for tender solar station construction in Zaafarana to be received 25 July https://ww.dailynewssegypt.com/2019/07/10/financial-bids-for-tender-solar-station-construction-in-zaafarana-to-be-received-25-july/ Wed, 10 Jul 2019 20:44:28 +0000 https://www.dailynewsegypt.com/?p=702404 Nari, Vikram, B Electric qualified…Elecnor, TSK excluded

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The New and Renewable Energy Authority (NREA) will receive financial offers from competing companies on the bid to construct a 50MW solar plant in Zaafarana on July 25.

The source told Daily News Egypt that three companies were technically qualified in the tender, including Nari, Vikram Solar, BELECTRIC. However, Elecnor and TCK Solar were eliminated for technical reasons.

The qualified companies were notified of the financial bids receipt date in official letters.

The sources explained that it is scheduled to analyse the financial and engineering offers of the company winning the implementation of the Zaafarana solar plant before the end of this year, in coordination with the project consultant.

Furthermore, the sources added that the price of selling the capacities produced from the project will not be equal to the price purchased by EETC from other stations of the authority. However, the price is negotiated to become close to the current prices.

The ministry of electricity and renewable energy aims to produce 20% of the NREA from the total capacity produced on the national grid of electricity until 2022, and seeks to make way for the private sector and Arab and international companies to invest in projects.

The sources pointed out that the number of requests submitted to the NREA for investment in projects confirms the ability of renewable energy to attract foreign and direct investment with positive impact on the economy. It also confirms the role of national institutions in creating a good investment climate as well as reducing risks and creating positive interaction with funding institutions and development partners.

The projects currently implemented includes the Zaafarana wind power complex with a capacity of 545MW, Gabal El Zeit wind power plant with a capacity of 580MW, and Koraimat solar power plant with 140MW capacity.

The first solar cells project in Kom Ombo was contracted with a capacity of 26MW, in addition to feed-in tariff projects in Benban, Aswan.

The sources also explained that the NREA plans to implement projects with a capacity of 500MW next year. Most of the projects will be implemented by the private sector, through tenders, decreasing bids, construction, operation, ownership, and other mechanisms to encourage the private sector.

It is scheduled to complete the implementation and operation of the Benban solar power complex in September, and the total capacity of the plant complex is 1,465MW.

Over 32 Arab and international companies have taken part in implementing the projects. The total investments amount to $2.5bn.

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Egypt begins implementation plan to replace 28.8m electricity meters with bill system https://ww.dailynewssegypt.com/2019/07/10/egypt-begins-implementation-plan-to-replace-28-8m-electricity-meters-with-bill-system/ Wed, 10 Jul 2019 08:00:07 +0000 https://www.dailynewsegypt.com/?p=702352 Prepaid counters installed to provide liquidity, obtain depreciation value

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Electricity distribution companies have started to implement the plan to replace the old meters which operate by the invoice system, with an electric prepaid plan.

An official at the Egyptian Electricity Holding Company (EEHC) told Daily News Egypt that the numbers of meters are currently 28.8m, operating by the invoice system, including 22.9m mechanical meters, and 5.9m digital meters. They will be replaced by the pre-paid meters instead.

He added that the electricity distribution companies will not install any old counters working by the bills system again. This in the hope to change all meters to an electronic and pre-paid system to collect charges in advance.

The companies install pre-paid meters for all new contracts or when a name of a consumer changes, as well as when the capacity of a meter increases, or in the case where a meter stops unpaid dues.

The ministry of electricity and renewable energy began installing 2.5m pre-paid meters in 2016. The installed meters in 2017 amounted to 4.7m, and in 2018 the number rose to 6.9m meters. It is expected to install 9.1m meters by the end of 2019.

The idea of the pre-paid electronic counter is based on charging the meter with a card-like mobile phone top-up cards. The counters work with the same current rates in the electricity prices and are shipped according to the material value that the citizen wants. This is starting at EGP 18 in order to reduce theft of electric currents and rationalise the consumption of citizens.

Moreover, the sources added that the ministry’s approach in the coming period is to increase the number of pre-paid electronic meters, and if there is a malfunction or a complaint about older meters, they shall be replaced by the distribution company and pay the value of meters and their delivery.

The sources pointed out that the implementation of the electronic meter system and prepaid card system aims primarily to provide liquidity to the ministry of electricity and renewable energy. This is to help them establish many future projects and also to allow subscribers control over consumption according to the level of income and financial capacity.

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Eni aims to drill 9 new development wells in Zohr field by 2020 https://ww.dailynewssegypt.com/2019/07/09/eni-aims-to-drill-9-new-development-wells-in-zohr-field-by-2020/ Tue, 09 Jul 2019 19:26:07 +0000 https://www.dailynewsegypt.com/?p=702306 Project production increased to 2.5bn feet by the end of this month: Source

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Italy’s Eni is seeking to drill nine new development wells in the Zohr field in the deep waters of the Mediterranean until 2020, to increase production rates according to the plan agreed upon with the ministry of petroleum and mineral resources.

A source in the oil sector told the Daily News Egypt that the development project of the Zohr field and digging 20 wells in 1,500 metres deep water is ongoing along with 2,600 under sea level to bring total drilling depth to 4,100 metres.

He pointed out that the drilling of the 11th well has been completed to increase production to 2.5bn cubic feet of natural gas per day (scf/day) by the end of this month, compared to the current 2.3bn scf/day.

He said that 200m scf/day of gas will be added to the daily production of the field after the 11th well is connected to the treatment plant.

He pointed out that Eni has completed the implementation of the entire natural gas processing plant produced from the Zohr field during the last month, bringing the total capacity of the processing plant to about 3.2bn scf/day.

The source said that the gas processing units are divided into a temporary unit of 400m scf/day, and 7 units of 2.8bn scf/day, at an investment cost of $5bn.

Furthermore, he said Eni had completed connecting 10 wells in the Zohr field in the deep waters of the Mediterranean with a maximum capacity of 2.3bn scf/day.

Moreover, he explained that the company completed the implementation of the seventh processing unit for natural gas produced from the Zohr field at the end of last month, bringing the total production of the project to about 2.3bn scf/day.

The source added that the average production of the well in the Zohr field ranges from 200m to 250m scf/day.

The production is connected to the new land station in Al-Gameel area in Port Said to be treated and pumped in the national gas network. The technical tests of the processing units and the gas transmission lines from the field wells to the treatment plant are carried out.

The source added that the company aims to invest more than $4bn in the development of the second phase of the field project in the deep water in the Mediterranean Sea this year, bringing the total investment to $16bn.

The ministry of petroleum and mineral resources is seeking to accelerate the completion of the next stages of the Zohr project in accordance with the instructions of President Abdel Fattah al-Sisi to accelerate the linking of the entire production of the project.

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Egypt opens 1st phase of “Concentration, Extraction of Black Sand Minerals” in Rasheed https://ww.dailynewssegypt.com/2019/07/09/egypt-opens-1st-phase-of-concentration-extraction-of-black-sand-minerals-in-rasheed/ Tue, 09 Jul 2019 19:22:12 +0000 https://www.dailynewsegypt.com/?p=702312 Chinese companies received equipment in return for 30% of raw material for 5 years

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The Nuclear Materials Authority and the Egyptian Black Sand Company have opened the first phase of the Black Sands Metals Concentration and Extraction Project in Rasheed.

Hamed Mira, head of the Nuclear Materials Authority, told Daily News Egypt that Chinese companies supplied equipment, tools, and machines for Rasheed’s Black Sand Concentrate and Extraction Project in exchange for 30% of the raw material for five years.

He explained that the first stage consists of three units of extraction and concentration of economic minerals, and two magnetic separation units with a capacity of 31,000 tonnes of metal ore annually. The second phase is scheduled for completion in October with the arrival of three units of separation and extraction of black sand minerals and a magnetic separation unit with a capacity of 35,000 tonnes ore annually.

The number of workers in the first phase are 75 workers, and 52 employees were recruited from the governorate of Beheira and the number of employees is set to increase as work starts in the second phase of the project.

He added that the project is to utilise black sand ore and aims to maximise the benefits of one of the most important mineral axes in terms of increasing the rates of national income and nationalisation of technology, as well as bridging the gap between our needs and the volume of what is imported from abroad.

He explained that the project contributes toward the advancement of economic and social development and participation in the establishment of projects based on the utilisation of natural resources, as well as the concentration and separation of economic and strategic minerals located in the residue of black sand with high economic returns.

In addition to creating industrial entities based on the treatment and enhancement of the added value of the resulting minerals, as well as community development and job creation for the youth in the governorates where crude materials are utilised, alongside environmental treatment of coastal sediments and disposing of radioactive materials, in addition to rehabilitating vast areas for coastal investment.

Egypt has 11 sites of black sands on the Mediterranean coast, in addition to what has been recently explored along the Red Sea coast in southern Egypt, according to Mira.

The importance of black sands is due to the fact that these sediments contain a large number of metals of high economic and strategic value. These are mainly aluminium, rutile, zircon, monazite, granite, and magnetite.

These steps came within the framework of cooperation between the Egyptian Black Sand Company and the Nuclear Materials Authority, which resulted in evaluating the reserve of the black sand and its economic minerals, in addition to studying the feasibility of exploiting them in many areas. Therefore, factories of concentration and separation of the black sand minerals were started with in Borollos, to open new horizons of mineral and social development in the governorates of Egypt.

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Electricity subscribers pay reduced bills for rotational load shedding https://ww.dailynewssegypt.com/2019/07/09/electricity-subscribers-pay-reduced-bills-for-rotational-load-shedding/ Tue, 09 Jul 2019 10:00:42 +0000 https://www.dailynewsegypt.com/?p=702238 The positive aspect of this method is that subscribers would pay reduced bills in return.

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Energy management is one of the methods used by electricity companies to control the national grid load curve in accordance with the economic operation of power stations and electrical networks.

Among these methods used by the electricity companies is load management, load shedding, and intelligent load shedding.

The positive aspect of this method is that subscribers would pay reduced bills in return.

According to the Egyptian Electricity Utility & Consumer Protection Regulatory Agency (EgyptERA), the “load shedding” contracts are temporary and are used by power companies to manage energy, control the load curve of the electricity grid, and reduce reliance on less efficient production units, such as gas-turbine units.

In terms of the types of load shedding contracts, they include deferring loads to non-peak hours, load shedding during peak hours, coordinating periodic maintenance to match peak hours, and deferring annual maintenance.

These contracts include consensual contracts between the subscriber and the electricity company, fixed-term contracts for a fixed number of days per year or specified hours per day, as well as to reduce the subscriber’s load to the minimum permitted limit by prior agreement.

The contract is either concluded directly or through mediators and is based on specific prices issued by the EgyptERA.

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Reconciliation in cases of electricity connection without metres to continue, yet regulating is necessary: Electricity Ministry https://ww.dailynewssegypt.com/2019/07/09/reconciliation-in-cases-of-electricity-connection-without-metres-to-continue-yet-regulating-is-necessary-electricity-ministry/ Tue, 09 Jul 2019 09:40:54 +0000 https://www.dailynewsegypt.com/?p=702084 He added that the General Directorate for Electricity Police will write reports for electric thefts alongside imposing fines and jail time.

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Ayman Hamza, a spokesperson from the ministry of electricity and renewable energy, said that electricity distribution companies have stopped processing coded electricity meters requests since June 30, adding that illegal electricity connections are subject to legal liability.

He added that the General Directorate for Electricity Police will write reports for electric thefts alongside imposing fines and jail time.

“Reconciliation in electricity connection without metres cases is not a regulation but rather a fine to obtaining electricity illegally. If cables are cut in such cases, maintenance cannot be provided and users must legalise their situation to avoid further fines,” he said.

Hamza also pointed out that the coded meters were installed for the illegally-constructed buildings, do not afford any form of legal right, or reconciliation to the status of building. Requests for these meters were allowed until June 2018.

He reported that the number of applicants for the installation of coded meters reached 2.4m requests.

The deadline for payment for inspections and measures was June 30. Until now, no other decision has been issued to resume receiving applications for coded meters.

He added that the purpose of installing the coded meter is to preserve public resources, reduce theft of current, and loss of power, which negatively impacts the efficiency of the national electricity grid in Egypt.

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Infinity Solar fully operates its 133MW power plants in Benban https://ww.dailynewssegypt.com/2019/07/09/infinity-solar-fully-operates-its-133mw-power-plants-in-benban/ Tue, 09 Jul 2019 09:20:00 +0000 https://www.dailynewsegypt.com/?p=702212 Hesham El Gamal, director of public relations and communications of the company, told Daily News Egypt that the projects they implemented, operated, and linked to the grid include Phoenix, Bseb, and MMID stations.

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Infinity Solar has finished connecting and operating all its solar plants in Benban, Aswan, to the national electricity grid, with a total capacity of 133MW, to bring up the total capacity added by the company in the feed-in tariff’s first and second phases to 184MW.

Hesham El Gamal, director of public relations and communications of the company, told Daily News Egypt that the projects they implemented, operated, and linked to the grid include Phoenix, Bseb, and MMID stations.

He explained that the company added to the electricity grid in the first phase of the feed-in tariff of solar energy projects about 51MW, including 50MW from a power plant in Benban and 1MW from another plant in the 6th of October City.

El-Gamal said that the stations are carried out in cooperation with the German company, ib vogt GmbH.

He stressed that the Egyptian Electricity Transmission Company (EETC) is committed to pay the company’s dues regularly for the purchase of energy produced from solar plants in Benban, saying, “There is no delay and bills are paid regularly.”

Infinity Solar is seeking to expand the construction of renewable energy plants and developed a plan to implement projects with capacities up to 1GW. They are waiting to get land for the implementation of plants to produce electricity from solar and wind resources.

He pointed out that the solar energy projects in Benban will eliminate unemployment in the region, through direct and indirect jobs during the construction and operation of projects, and all workers will be from Aswan, except for a number of engineers and technicians from each company.

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Metito inaugurates desalination plant in Al-Arish worth EGP 1.6bn https://ww.dailynewssegypt.com/2019/07/09/metito-inaugurates-desalination-plant-in-al-arish-worth-egp-1-6bn/ Tue, 09 Jul 2019 09:00:43 +0000 https://www.dailynewsegypt.com/?p=702203 “We seek to implement projects and sell desalinated water to the government”: Madour

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Metito is implementing a desalination plant in Al-Arish area with a capacity of 100,000 cubic metres per day in the first phase at a cost of EGP 1.6bn.

“The project is implemented in cooperation with Orascom, and the desalinated water from this plant is sufficient for 750,000 people,” said Kareem Madour, chief executive of Metito.

The project will be completed in 2021 and is part of the overall development plan in Sinai.

He told Daily News Egypt, during a roundtable held by the company yesterday, that the company is interested in building sea water desalination plants and selling water to the Holding Company for Water & Wastewater. He also said that, if there is an opportunity and vision for the implementation of projects in this system, Metito will be among the first companies to apply, considering it has implemented a number of projects in different countries, including Rwanda and China.

He explained that the volume of the company’s work in all countries is worth $2bn. In Egypt, the company has business worth $200m. The company is now working in 40 desalination and treatment plants.

The desalination plant in Hurghada was delivered. It will output 80,000 cubic metres of water per day, serving 50,000 people at a cost of EGP 800m. The company manages the project after its implementation for a period of one to five years.

The company has also implemented the first phase of a desalination plant in Jabal Al-Jalalah area with a total capacity of 150,000 cubic metres per day. The station is executed on an area of 60,000 sqm and will serve about a million people.

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New offers from Arab, international companies to launch 2,150MW wind farms https://ww.dailynewssegypt.com/2019/07/09/new-offers-from-arab-international-companies-to-launch-2150mw-wind-farms/ Tue, 09 Jul 2019 08:40:37 +0000 https://www.dailynewsegypt.com/?p=702199 American, Chinese, German, Saudi institutions seek to establish projects in Egypt

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The ministry of electricity and renewable energy has received new offers from Arab and international companies to launch wind farms with a capacity of 2,150MW.

Sources from the ministry told Daily News Egypt that companies from China, Germany, and Saudi Arabia have made offers to implement wind power stations with capacities ranging from 200 to 250MW per station.

A high-level committee from the Egyptian Electricity Transmission Company (EETC), the New and Renewable Energy Authority (NREA), and the Egyptian Electricity Holding Company (EEHC) will be formed to study these offers.

The sources added that the formed committee will study the proposals in general, according to the vision for the construction of stations, networks, loads, and the extent of the increase through to 2035, as well as the future needs to add the capacity of the renewable power plants to the electrical grid.

The sources pointed out that the companies seek to establish wind farms projects on a range of funding and management schemes, including EBC+Finance and BOO.

The EETC seeks to purchase the produced capacity of all the projects, but it depends on the value of the tariff. The company has capped tariff at 3.8 cents per kW/h. It aims to buy energy at less than that in the coming projects, according to sources.

The sources also said that the ministry aims to introduce projects under the auctions scheme on several stages according to the 2030 energy plan.

The sources noted that the ministry of electricity and renewable energy received presentations from General Electric and Vestas to implement projects of 4,000MW. However, they are yet to decide on them as negotiations stopped.

Instead, the ministry will not sign direct agreements and will float projects for companies to compete for.

The sources pointed out that the ministry is in negotiations with Siemens to build wind power stations with a capacity of 2,000MW, the first phase of which is a project of 180MW.

Egypt plans to generate 20% of energy from renewable resources by 2022.

The total produced energy in the country now stands at 55,000MW, including 2,400MW from hydroelectric power (5.5%), 1,000MW from wind farms, and 170MW of solar energy, equivalent to about 2.6%.

 

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Egypt aims to speed up electrical interconnection with Cyprus, Saudi Arabia https://ww.dailynewssegypt.com/2019/07/09/egypt-aims-to-speed-up-electrical-interconnection-with-cyprus-saudi-arabia/ Tue, 09 Jul 2019 08:20:46 +0000 https://www.dailynewsegypt.com/?p=702200 Projects will exchange 5GW between contracting countries

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Egypt is holding intensive meetings with Cyprus and Saudi Arabia to accelerate the implementation of electrical interconnection with a total capacity of 5GW, and set a timetable for the two projects.

Government sources told Daily News Egypt several meetings with Cypriot officials and the company responsible for conducting the project, with a capacity of 2GW.

There are ongoing studies on the technical and financial aspects of the project.

The sources added that the meetings that are currently under discussion are on the project’s technical matters, until the project is studied in detail.

Egypt is seeking to increase its exports of energy and meet the needs of neighbouring countries, as there is a surplus of up to 18GW. The price of electricity to be exported will be determined in accordance with the terms of international prices announced on the London Energy Exchange at the time of export.

The sources pointed out that an Egyptian delegation visited Saudi Arabia to follow up on the implementation of the interconnection line with Saudi Arabia after being modified to implement the Neom project.

Moreover, a consultant will be selected for the implementation of the maritime survey for submarine cable tracks and to set a date of entry into testing and operation of the project.

The project connects the two power grids in Egypt and Saudi Arabia to a 1,500-kV DC line from Badr transformer substation in Egypt to East Medina substation in Saudi Arabia passing through Tabuk station in Saudi Arabia along 1,300 km, including 820 km in Saudi Arabia and 480 km in the Egyptian territory.

Egypt started negotiations with Saudi Arabia in 2010 to establish a project to exchange energy between the two countries. However, due to political events, the project was postponed more than once, and negotiations were completed again with the support of the political leadership of the two countries.

Saudi Arabia announced in last October a plan for the establishment of the Neom area, which runs between three countries, namely Saudi Arabia, Egypt, and Jordan, with investments up to $500bn, located northwest of the kingdom, on an area of 26,500 sqkm, overlooking from north and west on the Red Sea and the Gulf of Aqaba.

The project will focus on nine investment sectors. Its first phase will be completed in 2025.

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Egypt still subsidises 15% of fuel in local market: official source https://ww.dailynewssegypt.com/2019/07/06/egypt-still-subsidises-15-of-fuel-in-local-market-official-source/ Sat, 06 Jul 2019 16:50:58 +0000 https://www.dailynewsegypt.com/?p=701876 Fuel prices to be reviewed quarterly according to crude oil prices in hedging contracts

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Egypt still subsidises around 15% of the actual cost of fuel, despite the recent fuel price hikes applied on Friday, a government source told Daily News Egypt on Saturday.

The source affirmed all petroleum products are still subsidised at different rates, adding that the actual cost formula is based on the Egypt’s share of the crude oil, the value of the partner’s production, crude oil exports, as well as the current exchange rate.

Furthermore, Egypt is currently considering hedging with fluctuations in the exchange rate, the source revealed, explaining that in parallel to continuing the oil hedging mechanism, applied in the fiscal year (FY) 2018/19, the state would secure the fuel subsidy budget in FY 2019/20 from the risks of oil price fluctuations in the international market.

These oil hedging services would allow the government to buy crude oil over a long period of time at a fixed price in order to avoid the uncertainty in the international market.

According to the source, hedging is reviewed every three months with international banks, afterwards, the responsible committee will set the fuel prices based on the price of crude oil in the hedging contract.

He pointed out that the government committee concerned with reviewing the fuel prices will announce the results of the review on 30 September.

The source said that the period set to review the prices of petroleum products was specified to be three months for several reasons. First, the duration of the hedging contract is three months and is then renewed. Second, the fact that the Egyptian General Petroleum Corporation (EGPC) issues tender to import crude oil and petroleum products every three months.

Prime Minister Moustafa Madbouly has issued a decision to set up a committee to implement the automatic price indexation mechanism, linking fuel prices to the international crude oil prices and exchange rates. However, the price indexation would not be applied on liquefied petroleum gas (LPG) cylinders and petroleum products used by the electricity sector and bakeries.

Accordingly, the prices will be reviewed every three months, however, the ceiling for the change would be 10% up or down in the current prices at the time.

The Egyptian authorities decided to go ahead with slashing fuel subsidies on Friday, lifting petrol and diesel prices by about 25%. The price of octane 92 petrol increased to EGP 8 per litre, up from EGP 6.75. The price of octane 80 petrol and diesel fuel both increased from EGP 5.50 to EGP 6.75.

Moreover, the price of octane 95 petrol increased from EGP 7.75 to EGP 9, a 17% increase, while LPG cylinders increased by 30% to reach EGP 65, up from EGP 50 for household usage, while commercial LPG reached EGP 130.

Moreover, natural gas prices also increased, recording EGP 85 per million British thermal units (BTU) for brick kilns, EGP 3.50 per cubic metre for cars.

Meanwhile, the gas price for households registered EGP 2.35 per cubic metre for the 0-30 cubic metres consumption segment, EGP 3.1 for the second segment of between 30-60 cubic metres, and EGP 3.6 for the third segment of more than 60 cubic metres.

The government kept the price of fuel oil for the food and electricity plants unchanged.

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Egypt slash fuel subsidies raising petrol and diesel prices by 25% https://ww.dailynewssegypt.com/2019/07/05/egypt-slash-fuel-subsidies-raising-petrol-and-diesel-prices-by-25/ Fri, 05 Jul 2019 07:34:48 +0000 https://ww.dailynewssegypt.com/?p=701837 New price for octane 80 petrol, diesel set at EGP 6.75, octane 92 petrol EGP 8, LPG cylinder to EGP 65

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The Egyptian authorities decided to go ahead with slashing fuel subsidies on Friday, lifting petrol and diesel prices by about 25%. The price of a litre of octane 92 petrol increased to EGP 8, up from EGP 6.75. The price of octane 80 petrol and diesel fuel both increased from EGP 5.50 to EGP 6.75.

Moreover, the price of octane 95 petrol increased from EGP 7.75 to, EGP 9 marking a 17% increase, while liquefied petroleum gas (LPG) cylinders increased by 30% to reach EGP 65, up from EGP 50 for household usage, while commercial LPG reached EGP 130.

Egypt had committed to implementing the automatic price indexation mechanism, linking fuel prices to the international crude oil prices and exchange rates. According to the spokesperson of the Ministry of Petroleum price indexation to be implemented on all fuel in September.

The government’s decision comes in line with promises to reduce fuel subsidies according to the reform plan that was agreed upon with the International Monetary Fund (IMF) in order to secure a $12bn loan.

In January, Egyptian authorities agreed with the IMF, to implement several reform measures, including the implementation of a fuel price indexation mechanism for all fuel products in June, except octane 95 petrol (a decree was already issued in December 2018), liquefied petroleum gas (LPG), and fuel oil used in bakeries and for electricity generation.

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Delek announces postponing gas export to Egypt until end of year https://ww.dailynewssegypt.com/2019/07/01/delek-announces-postponing-gas-export-to-egypt-until-end-of-year/ Mon, 01 Jul 2019 19:32:13 +0000 https://www.dailynewsegypt.com/?p=701452 Measures to import gas from Israel completed; Calcalist confirms company did not get regulatory approvals from Tel Aviv, saysindustry source

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The Israeli company Delek, said in a statement sent to the Tel Aviv Stock Exchange that the export of gas to Egypt will begin the end of this year from the Leviathan field, and that the delay is due to the increase in demand for natural gas locally, which may exhaust the Tamar field resources in the near future.

A source in the oil sector told Daily News Egypt that Egypt had completed all procedures for receiving gas from Israeli gas fields in the deep waters of the Mediterranean Sea.

He added that the tests of the natural gas pipeline have been completed by the Egyptian and Israeli sides, to prepare for the re-export of gas through the liquefaction plants to international markets.

The source explained that it was planned to receive Israeli gas at the beginning of this month, according to the previous agreements in 2018. The agreements between Delek Drilling and Noble Energy—the operators of Israel’s largest natural gas fields Tamar and Leviathan—and the Egyptian company Dolphinus Holdings

Calcalist (the economic arm of Yedioth Ahronoth) said that the postponement of the export process was due to reasons other than those announced by Delek, namely, the failure of the consortium to obtain the necessary regulatory approvals, including the Israeli Ministry of Energy and the Antitrust Authority.

The Israeli Antitrust Authority may be more hesitant in signing the agreement of last October to secure the gas pipeline through which the Israeli gas will be transferred to Egypt, sources told Calcalist.

Delek CEO, Yossi Abu, said that the gas pipeline tests had been successful and the pipeline was ready to transport the gas according to the agreement between the parties.

Earlier, the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holding Company agreed with the Israel Electricity Authority to settle the arbitration case  in return for paying Egypt EGP 500m in instalments for eight and a half years from the proceeds of the fees to be paid by the Tel Aviv government for the export of gas from its fields via the lines and pipes of Egyptianl gas liquefaction plants .

A government source said that the agreement to settle the arbitration cases filed by the Israeli side against Egypt has been completed, with sealing the deal to export gas from the fields of Delek and Noble through the Egyptian gas liquefaction plants in Idku and Damietta.

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Electricity companies start to apply new tariff, expected to yield EGP 920m in July https://ww.dailynewssegypt.com/2019/07/01/electricity-companies-start-to-apply-new-tariff-expected-to-yield-egp-920m-in-july/ Mon, 01 Jul 2019 19:19:59 +0000 https://www.dailynewsegypt.com/?p=701450 Shaker directs heads of distribution companies to raise collection rates, review invoices before issuance

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Electricity distribution companies have started to apply new prices to the consumption tariff for all subscribers to reduce the financial burden on the sector, reduce the deficit, and continue to improve the service provided to consumers.

Sources in the Egyptian Electricity Holding Company (EEHC) told Daily News Egypt that the expected result of the increase in electricity prices this month amounts to EGP 920m. The proceeds will be used for the implementation of maintenance and renovation, expansion, and development of networks and electrical equipment.

The sources pointed out that Minister of Electricity, Mohamed Shaker, issued strict instructions to the heads of distribution companies at the level of the republic to raise collection rates so that the ministry can meet its financial obligations, as well as review the invoices and their compatibility with consumption for all participants.

According to electricity tariffs during the fiscal year (FY) 2019/20, the household consumption tariff from zero to 50 kW/h is about 30 piasters per kW/h. Consumption from 51 to 100 kW/h is charged at 40 piasters, while consumers of 0- 200 kW/h is charged at 50 piasters.

The consumption ranges from 201 to 350 kW/h is priced at 82 piasters, 351 to 650 kW/h at 100 piasters, 651 to 1,000 at 140 piasters, and over 1,000 kW/h is at 145 piasters.

The increase in the electricity bill starts on the 50 kW/h consumed by about EGP 4 and up depending on the increase in consumption, while the increase in bills of 300 kW/h is about EGP 40 and the largest increase in bills will be EGP 93.5 for using over 1,000 kW/h.

In an earlier statement, Shaker said the average price of electricity sold was 96.1 piasters, the average cost on the low voltage was 114.2 piasters per kW/h, and the electricity bill was not to be increased to consumers of more than 1000 kW/h.

He explained that the ministry of finance continues to subsidise the electricity sector by about EGP 16.5bn during the FY 2019/20.

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Egypt to start trial operation of electricity interconnection with Sudan at 60MW capacity https://ww.dailynewssegypt.com/2019/07/01/egypt-to-start-trial-operation-of-electricity-interconnection-with-sudan-at-60mw-capacity/ Mon, 01 Jul 2019 15:33:12 +0000 https://www.dailynewsegypt.com/?p=701428 Shaker said that the trial operation will start as soon as possible to exchange of 50-60MW, stressing that Egypt is ready to provide technical support to Sudan in particular and to African countries in general in the field of power projects.

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Egypt is planning to start the experimental operation of the electricity interconnection project with Sudan at a capacity up to 60MW.

It comes during a meeting between Egypt’s Minister of Electricity, Mohamed Shaker, and the Chargé d’affaires of Sudanese embassy in Egypt, Idrees Mohamed Ali, to discuss aspects of bilateral cooperation and follow up the developments of the electricity interconnection project between Egypt and Sudan.

Shaker said that the trial operation will start as soon as possible to exchange of 50-60MW, stressing that Egypt is ready to provide technical support to Sudan in particular and to African countries in general in the field of power projects.

He assured the Sudanese side that their electricity needs would be fulfilled, noting that the Egyptian government always support Sudan in all fields.

Furthermore, Shaker pointed out the deep relations between both countries, stressing the great attention given by the Egyptian political leadership to develop bilateral relations with Sudan.

Such meetings confirm the vision of President Abdel Fattah Al-Sisi and the Egyptian political leadership to strengthen cooperation with African countries and increase the Egyptian presence in those countries to benefit all parties.

The minister of electricity also stressed Egypt takes into account the priorities of those countries based on common interests in order to achieve benefits for the parties involved. This cooperation includes human resources development, technical assistance, and capacity building.

For his side, Ali praised the deep Egyptian-Sudanese relations, expressing his country’s desire to support, strengthen, and reinforce these relations.

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Egypt aims to export $2bn worth of gas FY 2019/20 https://ww.dailynewssegypt.com/2019/06/27/egypt-aims-to-export-2bn-worth-of-gas-fy-2019-20/ Thu, 27 Jun 2019 07:00:29 +0000 https://www.dailynewsegypt.com/?p=701260 Linking North Alexandria, Zohr, Borolos fields raises local production, says government source

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The Egyptian Ministry of Petroleum aims to export 12m tonnes of natural gas during the fiscal year (FY) 2019/20 worth $2bn against $580m during the current FY, according to government sources.

A source at Egyptian Natural Gas Holding Company (EGAS) told Daily News Egypt that the average exporting rate during the FY 2018/19 amounted to about 500m cubic feet of gas per day(scf/day).

The ministry of petroleum is working to increase the natural gas exports to 1.56bn scf/day, through the Idku and Damietta liquefaction plants and the Jordan gas pipeline in the coming FY.

The official attributed the increase in gas exports during the FY 2019/20 to the linking various fields to the production, namely the Zohr and the North Alexandria fields.

He added that the foreign companies operating in Egypt are seeking to export part of their share in the production of gas in their concession areas to achieve significant financial gains, as LNG shipments are sold according to international prices, compared to the price at which Egypt buys gas from them.

The source estimated the contractual share of the Idku plant at about 1.13bn scf/day. Its ownership structure is 12% for the Egyptian General Petroleum Corporation, EGAS at 12%, Shell at 35.5%, Petronas at 35.5%, and Gaz de France at 5%.

The company’s quantity contracted to be pumped to Damietta plant amounted to 750m scf/day. The ownership of the plant is 26% for Italy’s ENI, 26% for Unión Fenosa and CGAS, and 48% for the Egyptian government.

“The plan of the ministry of petroleum to connect North Alexandria, Zohr, and Borolos fields is moving on schedule, which will increase local production and cover consumption, while operating the liquefaction plants through the gas coming from Cyprus and Israel,” the source said.

Egypt’s natural gas output rose to 6.8bn scf/day compared with 6.2bn scf/day last year, after linking gas production from the second phase of the West Nile Delta Project and a number of other wells.

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Egypt fixes tariff for solar power plants usufruct rights at 2% of production https://ww.dailynewssegypt.com/2019/06/27/egypt-fixes-tariff-for-solar-power-plants-usufruct-rights-at-2-of-production/ Thu, 27 Jun 2019 06:40:45 +0000 https://www.dailynewsegypt.com/?p=701256 Six companies approached signing of contracts with governorates to establish stations worth $400m

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The government decided to keep land usufruct rights tariff at 2% of energy produced per year.

Government sources told Daily News Egypt that the governorates have started to grant the lands, under their jurisdiction, to companies and investors to establish solar power plants on usufruct rights for 25 years. This is in return for 2% of the value of energy produced annually, which is the same value adopted by the New and Renewable Energy Authority (NREA) in its lands.

The sources added that fixed companies approached the signing of the contract to obtain land in the governorates of Minya, New Valley, and South Sinai on the usufruct system to establish solar power plants of 400MW and investments worth $400m, including Inara and Schneider Electric.

Renewable energy projects require access to land either through the NREA or the governorates.

The sources pointed out that the companies that signed a protocol of cooperation and preliminary agreements with the governorates of Minya, New Valley, and South Sinai will implement solar power plants with the system of net metering and independent producer, which includes the sale of electricity produced directly to consumers.

The sources added that the NREA also has large areas of land, but investors started to go to the governorates to get their land and sell electricity directly on the IPP system for factories, companies, hotels, and tourist villages, although the regulation of this system has not been issued so far.

Mohammed El-Khayat, head of the NREA, told the Daily News Egypt that the total area of land allocated by the state for renewable energy projects is large.

“There is an integrated coordination between the governorates and the new and renewable energy authority on this procedure,” he added.

He explained that the land is available to all investors. If the investor submits an application to the governorate, it will be transferred for approval from the NREA to establish the project and the Egyptian Electricity Transmission Company (EETC) to obtain approval for the connection to the network.

In an earlier statement, the Governor of South Sinai, Khaled Fouda, stressed that any investor who wants to build a solar power plant in the governorate will receive the land using the system of usufruct in exchange for 2% of the value of energy produced annually. He invited the companies to invest in the state plan to transform Sharm El-Sheikh into a green city.

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