Page 15 - DMEA Week 36 2022

DMEA NEWS IN BRIEF DMEA

business new africa bna/IntelliNews

“This award is an important part of the long- terminal (ELNG) in Idku, east of Alexandria. president of Bechtel Energy said. “Our Bechtel
term development plan for the field and will The FEED for the Idku Energy Hub project team is looking forward to continuing to support
help strengthen ADNOC’s position as a leading will explore the benefits of a One Power Hub Egypt’s climate change strategy.”
low-cost and low-carbon provider of energy for concept, integrating the electrical power sys- Bechtel, Enppi and Petrojet will execute the
customers around the world.” tems at the WDDM and ELNG, as opposed to FEED on a fast-track basis aiming to complete
ADNOC’s gas masterplan links every part of having two separate systems. It seeks to increase the scope of work within 2022.
the gas value chain to further unlock Abu Dha- the power saving and greenhouse gas abatement The project is a testimony to the operational
bi’s abundant gas reserves enabling domestic gas benefits of unifying the electrical power systems excellence in WDDM and ELNG plants. Reduc-
self-sufficiency, industrial growth and diversi- of the onshore plants. ing greenhouse gas emissions and optimising
fication, as well as to meet growing global gas The synergies will include optimisation of fuel consumption and running hours of the
demand. Natural gas is playing an increasingly the number of running gas turbine generators, rotating equipment will enhance production and
important role in the energy transition as both a modelling the most efficient operating mode for reduce operating cost.
feedstock and a fuel as it burns with significantly both plants, reducing greenhouse gas emissions About Shell in Egypt: Shell Egypt N.V. is
lower-carbon intensity than coal. and economising the fuel consumption in the wholly owned by Shell plc. Shell has been active
With this award, ADNOC Offshore and its entire hub. in Egypt for over 100 years and remains a leading
strategic international partners have invested This project is part of a wider program player in country with investments spanning the
more than $5bn in recent weeks in the long-term between the coalition and the Egyptian Ministry value chain. Shell’s integrated portfolio includes
development of Abu Dhabi’s offshore operations. of Petroleum and Mineral Resources aiming to exploration, upstream operations, LNG through
The awards included contracts worth more than decarbonise existing oil and gas facilities across our Egyptian LNG (ELNG) joint-venture, and
$3.4bn awarded to ADNOC Drilling to acceler- the country and deliver on its climate change the lubricants business through Shell Lubricants
ate offshore growth activities and a $1.1bn con- strategy. Egypt (SLE).
tract awarded to ADNOC Logistics and Services “I am so proud that the oil and gas sector About Bechtel: Bechtel is a trusted engineer-
to enhance offshore operations. is contributing significantly to achieving top ing, construction and project management part-
ADNOC, September 5 2022 strategic goals: accelerating decarbonisation ner to industry and government. Differentiated
and economising power consumption,” His by the quality of our people and our relentless
Excellency Minister of Petroleum and Mineral drive to deliver the most successful outcomes, we
REFINING & FUELS Resources Tarek El-Molla said. “I am pleased align our capabilities to our customers’ objectives
that our partners are taking such initiatives to to create a lasting positive impact. Since 1898,
Shell, EGAS and Petronas promote these priorities.” we have helped customers complete more than
25,000 projects in 160 countries on all seven con-
“This project is a demonstration of our com-
award Idku Energy Hub mitment to powering progress by providing tinents that have created jobs, grown economies,
more and cleaner energy,” Khaled Kacem, vice improved the resiliency of the world’s infrastruc-
project FEED contract to president and country chair of Shell Egypt, ture, increased access to energy, resources, and
said. “As partners in Egypt’s journey to become vital services, and made the world a safer, cleaner
Bechtel-led coalition a regional energy hub we are also mobilising place.
Bechtel serves the Energy; Infrastructure;
our efforts and expertise to support the coun-
Shell Egypt, EGAS and Petronas have awarded try’s energy efficiency ambitions. This is also a Manufacturing & Technology; Mining & Met-
a front-end engineering and design (FEED) significant step towards full implementation of als; and Nuclear, Security & Environmental mar-
contract to a Bechtel-led coalition that includes the decarbonisation Memorandum of Under- kets. Our services span from initial planning and
Enppi and Petrojet to study a proposed unified standing between Shell and the Ministry that investment, through start-up and operations.
power system between the onshore gas pro- was signed earlier this year.” Bechtel, September 8 2022
cessing plant of the West Delta Deep Marine “This project is an excellent example of pri-
(WDDM) gas fields in the Mediterranean Sea off vate and public sector partnership to support World Bank urges Nigeria
the coast of Egypt and the Egyptian LNG export Egypt’s decarbonisation strategy,” Paul Marsden,
to end fuel price subsidy

The World Bank is ready to support Nigeria in
phasing out regressive fuel subsidies, its presi-
dent, David Malpass, has said.
Nigeria is spending huge sums of money on
the fuel subsidy every year, which has taken a sig-
nificant toll on the country’s budget. The govern-
ment has estimated that it will cost the country
NGN6.72 trillion ($15.87bn) for the entirety of
2023. The Central Bank of Nigeria (CBN) has
asked the government to “jettison the current
fuel subsidy policy” due to the high cost to the
economy.
According to a statement made by Malpass,
Nigeria should increase social assistance for
the poor and vulnerable and put a stop to the
subsidies.

Week 36 08•September•2022 www. NEWSBASE .com P15