Latest news with #ArabPetroleumPipelinesCompany
Egypt Independent
05-07-2025
- Business
- Egypt Independent
Gov't: National natural gas network supplies stable
CAIRO, July 3 (MENA) – Prime Minister Mostafa Madbouly met Thursday with Minister of Petroleum and Mineral Resources Karim Badawi to review the latest developments regarding integrating Floating Storage and Regasification Units (FSRUs) into the national natural gas network to enhance energy security and meet summer demand. During the meeting, Badawi shed light on the progress made so far in the preparation of the floating regasification units berthed at Egyptian ports. These units receive, regasify, and inject imported liquefied natural gas (LNG) directly into the national grid, supporting power plants and other essential sectors, he said. He affirmed that all relevant national entities and companies are cooperating to ensure the security and sustainability of natural gas supplies to all state sectors across the country. Badawi added that petroleum sector companies have already completed all required works, preparations, and technical tests ahead of schedule at the marine berths of Arab Petroleum Pipelines Company or SUMED and Sonker ports in Ain Sokhna, in preparation for accommodating the floating units. The premier also discussed with the petroleum minister the natural gas supply procedures for power generation stations nationwide to prevent any electricity outages. In this regard, Badawi confirmed the stability of natural gas supplies through the national network to meet the needs of the electricity sector and other vital sectors. (MENA)
Middle East
03-07-2025
- Business
- Middle East
OPEN// Gov't: National natural gas network supplies stable
CAIRO, July 3 (MENA) - Prime Minister Moustafa Madbouli met Thursday with Minister of Petroleum and Mineral Resources Karim Badawi to review the latest developments regarding integrating Floating Storage and Regasification Units (FSRUs) into the national natural gas network to enhance energy security and meet summer demand. During the meeting, Badawi shed light on the progress made so far in the preparation of the floating regasification units berthed at Egyptian ports. These units receive, regasify, and inject imported liquefied natural gas (LNG) directly into the national grid, supporting power plants and other essential sectors, he said. He affirmed that all relevant national entities and companies are cooperating to ensure the security and sustainability of natural gas supplies to all state sectors across the country. Badawi added that petroleum sector companies have already completed all required works, preparations, and technical tests ahead of schedule at the marine berths of Arab Petroleum Pipelines Company or SUMED and Sonker ports in Ain Sokhna, in preparation for accommodating the floating units. The premier also discussed with the petroleum minister the natural gas supply procedures for power generation stations nationwide to prevent any electricity outages. In this regard, Badawi confirmed the stability of natural gas supplies through the national network to meet the needs of the electricity sector and other vital sectors. (MENA) Y R E/R E E
Egypt Independent
19-03-2025
- Business
- Egypt Independent
Petroleum Ministry: SUMED profits hit $192mn in 2024
The Arab Petroleum Pipelines Company (SUMED) has achieved net profits estimated at 192 million dollar in 2024, with a return on paid-in capital of 32.1 percent. The Ministry of Petroleum and Mineral Resources, in a statement issued on Tuesday, said that SUMED has successfully increased its paid-in capital by 400 million dollars to record 600 million dollars, realizing a capital recovery rate of 12.4 times. The Petroleum ministry has attributed SUMED success to the wise strategic management, meticulous planning, and having a clear investment vision. Addressing the general Assembly meeting of SUMED, Minister of Petroleum and Mineral Resources Karim Badawi hailed the company as one of the successful Arab investment models. The minister highlighted the company role in securing oil supplies and turning Egypt into a regional and international hub for the trade of energy. Meanwhile, SUMED Chairman and Managing Director Mohamed Abdelhafez, indicated that the company was able to achieve eight million safe operating hours, thanks to adherence to the occupational health and safety standards.
