Egypt has not signed a brand new settlement to import Israeli gasoline, clarified Moataz Atef, the Undersecretary for the Minister’s Technical Workplace and Official Spokesperson of the Ministry of Petroleum and Mineral Sources, throughout a prime-time discuss present on Friday evening.
His feedback got here in response to media stories suggesting Egypt had entered a brand new $35 billion deal to import gasoline from Israel by 2040. Atef defined that this isn’t a brand new settlement, however somewhat an extension of an current 2019 deal.
Atef emphasised that the deal comes as a part of Egypt’s technique to safe its gasoline provide. This contains providing incentive packages to gasoline explorers and lowering the pure decline in home gasoline fields
Leasing Floating Storage and Regasification Models (FSRUs) is one other monitor within the plan, which, in accordance with Atef, now offers a mixed regasification capability of two,250 million cubic ft per day (mmcf/d)
“We additionally agreed on the EGYPES 2025 export gasoline from Cyprus’ Cronos and Aphrodite fields; the deal will materialize within the medium time period,” he mentioned, including that Egypt even have plans to supply gasoline from the broader East Mediterranean area.
Reacting to a query by this system’s host concerning the lengthy length and the massive worth of the deal, Atef mentioned that the Egyptian authorities is working to safe long-term contracts to make sure the soundness of the strategic power provide. Nonetheless, he had reservations concerning the worth of the settlement, saying it’s but to be finalized.
