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In the mid-2010s the pipeline did not export Egyptian gas due to domestic gas shortages which forced Egypt to stop exporting gas to all countries. Exports were resumed in 2018 as gas supply in Egypt was increased (thanks mainly to the Zohr gas field coming online). In 2020 the pipeline began distributing gas originating from Israel to Jordan ...
Egyptian Natural Gas Company (GASCO) is a subsidiary of the Egyptian Natural Gas Holding Company, operating in the field of natural gas transmission, distribution and processing. The company was established in March 1997. GASCO operates the gas grid with total length of 22,000 kilometres (14,000 mi).
In 2019 Egypt completed one of the biggest solar installations in the world, Benban Solar Park, which generates 1.8 GW to power 1 million homes. [ 40 ] [ 41 ] [ 42 ] In 2021, Egypt signed contracts worth $700 million with the Kom Ombo Solar Energy Complex which would create 10,000 jobs.
The pipeline will diversify European gas supplies and lessen dependence on Russian Natural Gas. [15] [16] [17] In April 2019, the European Commission labeled the EastMed pipeline as a Project of Common Interest, having contributed €34.5 million (US$38.9 million) to complete technical studies for the project. [12]
According to the deal, gas from Israel will be brought via a pipeline to the LNG terminal on the Egypt's Mediterranean coast before being transported on tankers to the European shores. [12] Reports were afoot that Russia cut its exports to Europe on the same day "as a sign of displeasure at the deal signed in Cairo."
The Egyptian General Petroleum Corporation (EGPC) (Arabic: الهيئة المصرية العامة للبترول) is a national oil company of Egypt. EGPC's business includes crude oil exploration, refining, and storage. The company also produces lubricants and greases and offers services for oil and gas projects. [1]
In 2014 Naftogaz began natural gas extraction in Egypt. The company's oil production in Egypt estimated at 260,000 tonnes for 2014, which is more than 10% of annual production in Ukraine. A new natural gas pipeline allowing for extraction of approximately 300,000 cubic meters per day has also been launched. [50]
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