Page 8 - AfrOil Week 22 2021
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AfrOil INVESTMENT AfrOil
However, she stressed that the company recog- you must have the financing.”
nised the importance of securing financial back- The refinery is slated to process crude oil
ing for the project in proportion to its holdings. from Kingfisher and Tilenga. These two fields
“Without financing you can only do so will be the first upstream assets to begin pro-
much,” she said, according to Africa Oil + Gas duction in the Lake Albert region. TotalEnergies
Report. “If you are going to play as a contracting (France), formerly known as Total, expects them
party or partner within the agreements, then to come on stream in early 2025.
PERFORMANCE
Egypt allocates budget funds
to convert cars to run on gas
EGYPT THE government of Egypt has allocated of abundant, domestically produced gas and
EGP2.1bn ($560mn) in the coming fiscal year’s should reduce the country’s fuel import bill
budget, which will take effect on July 1, to while also fulfilling the green energy transfor-
finance the first phase of its green initiative. mation strategy.
This programme aims to facilitate the con-
version of 250,000 old gasoline-based taxis
and passenger vehicles to run on natural gas
in the governorates of Cairo, Giza, Qalyubia,
Alexandria, Suez, Port Said, and the Red Sea
governorates.
Egypt already boasts 100 natural gas con-
version centers that enable cars to burn CNG
as fuel. Since July 2020, these facilities, with the
support of the Petroleum Ministry, have suc-
cessfully converted 42,000 vehicles to run on
gas. As a result, the total number of CNG-fueled
vehicles in the country to 360,000 units.
The Egyptian government has made the
conversion of vehicles to gas a strategic prior-
ity. Its initiative is designed to take advantage Cargas operates CNG conversion centres in Egypt (Photo: Cargas)
EGAS extends natural gas supply
contract with Jordan’s NEPCO
EGYPT THE Egyptian Natural Gas Holding Company Ensuring a reliable and affordable fuel sup-
(EGAS) and Jordan’s National Electric Power plies for electricity production has been a major
Company (NEPCO), which is responsible challenge for Jordan, after the US invasion
for electricity transmission and distribution, of Iraq in 2003 ended cheap Iraqi oil imports.
extended the timeframe for their existing nat- Conditions improved following the signing of
ural gas supply contract. Under this deal, Egypt an agreement with Egypt in 2004. This accord
supplies Jordan with 330mn cubic feet (9.34mn provided for the supply of 250 mcf (7.08 mcm)
cubic metres) per day is gas. per day of gas via pipeline to the port of Aqaba
The two Arab neighbours have now signed in southern Jordan.
signed a supplementary appendix on the expan- Nevertheless, constant attacks on the Sinai
sion of Jordan’s gas transportation network. Peninsula portion of the Arab Gas Pipeline from
Egypt has also agreed to provide training to Jor- 2009 resulted in a decline in imports, and ship-
danian engineers in oil and gas projects. ments were discontinued completely in 2013.
P8 www. NEWSBASE .com Week 22 02•June•2021
