Latest news with #FSRUs
Al-Ahram Weekly
3 days ago
- Business
- Al-Ahram Weekly
Egypt repaid over $1 bln in energy debts as it secures gas needs: PM - Energy
Prime Minister Mostafa Madbouly affirmed on Wednesday the successful integration of all Floating Storage Regasification Units (FSRUs) into Egypt's national gas network. PM Madbouly said this in a press conference held after the weekly cabinet meeting on Wednesday at the cabinet headquarters in New Alamein. During the presser, Madbouly revealed that three FSRUs are currently docked in Ain Sokhna, ready to support Egypt's energy grid in case of unexpected disruptions to the traditional gas supplies. The ships have not yet operated at full capacity. However, the premier stressed that they are part of Egypt's strategic reserve system to secure its energy needs during emergencies. He also noted that two additional FSRUs will arrive soon — one to be deployed at Alexandria Port and the other at Jordan's Aqaba Port — as part of the country's emergency summer contingency measures. Furthermore, Madbouly said Egypt has recently repaid over $1 billion in outstanding dues owed to foreign oil and gas partners, a significant move toward reducing the country's accumulated energy debt. "Acknowledging that a large backlog remains, Egypt is committed to regularly paying monthly invoices," the prime minister reaffirmed. By the end of 2025, an additional $1.4 billion is expected to be paid to alleviate financial pressures further and restore confidence in Egypt's energy sector. "We cannot expect local production to increase unless we are consistent in paying both our monthly obligations and overdue debts," Madbouly added. He also highlighted Egypt's efforts to boost domestic energy production and reduce reliance on imports by maximizing national resources and attracting global investment in exploration and extraction. Follow us on: Facebook Instagram Whatsapp Short link:
Daily News Egypt
7 days ago
- Business
- Daily News Egypt
Government stresses continued payment of foreign oil partners' dues
Prime Minister Mostafa Madbouly chaired a meeting on Sunday with Minister of Electricity and Renewable Energy Mahmoud Esmat and Minister of Petroleum and Mineral Resources Karim Badawi to follow up on key issues, including fuel supply to power plants, progress on renewable energy integration into the national grid, and the status of payments to foreign oil partners. At the start of the meeting, the Prime Minister highlighted the importance of ongoing efforts by the relevant ministries to secure and increase petroleum supplies. He emphasized the need to ensure uninterrupted operation of power plants—particularly during the summer months—and to expand the share of renewable energy in Egypt's energy mix to improve efficiency and reduce generation costs. Minister Esmat outlined the electricity and renewable energy sector's solid infrastructure and detailed efforts to enhance energy efficiency, enforce fuel quality standards, and implement regular maintenance programs at power plants. He also noted the sector's ongoing expansion of renewable energy production and its integration into the national grid. Improving energy efficiency and reducing electricity consumption remain priorities, pursued through coordination with ministries, government entities, and partnerships with local and international private sector players. Esmat added that 2,000 megawatts of renewable energy capacity were added to the unified national grid ahead of the current summer season. He underscored the importance of continuous monitoring of the grid to ensure stable and high-quality electricity supply, along with strict adherence to global standards in maintenance and operational procedures. Efforts are also underway to reduce technical losses and lower fuel consumption, with maintenance programs being implemented on precise schedules set by the grid operator to achieve optimal operational efficiency. Minister of Petroleum and Mineral Resources Karim Badawi reviewed the status of petroleum supply and detailed measures to maintain steady fuel availability for power plants. He confirmed that floating storage regasification units (FSRUs) continue to receive liquefied natural gas shipments, which are then regasified and fed into the national gas grid to meet local demand. Badawi emphasized ongoing coordination with the Ministry of Electricity and Renewable Energy within a unified strategy to secure fuel supply and maintain grid stability. Joint working committees, he noted, regularly assess and plan for the required fuel needs of power generation plants. He further outlined the petroleum sector's role in ensuring the delivery of gas and fuel oil as requested by the electricity sector, stressing that this coordination takes place continuously, supported by proactive plans to manage fuel needs during peak summer demand. The meeting also reviewed progress on payments to foreign oil partners. The government reaffirmed its commitment to meeting these obligations regularly—a move expected to boost confidence among international investors and encourage additional investment in exploration, drilling, and production.
See - Sada Elbalad
11-07-2025
- Business
- See - Sada Elbalad
EgyptAir Cargo Transports Giant Marine Loading Arms to Support Regasification Units
Taarek Refaat EgyptAir Cargo has successfully received two Antonov AN-124 aircraft at Cairo International Airport to transport two massive shipping arms, key components of floating storage regasification units (FSRU), in a pivotal move to bolster Egypt's energy infrastructure. These units are critical for the country's ongoing efforts to secure its energy needs, with the parts being delivered to the UGDC quay at Damietta Port. The Massive shipping arms, also known as Marine Loading Arms (MLAs), are indeed key components of Floating Storage Regasification Units (FSRUs). This operation is part of a broader national strategy aimed at enhancing Egypt's energy capacity and ensuring stable supply chains for the country's growing demand for liquefied natural gas (LNG). The FSRU units will play a crucial role in LNG storage and regasification, allowing Egypt to import natural gas more efficiently, process it, and distribute it for domestic and international markets. The shipment of these specialized components signifies a major step in the country's efforts to diversify and expand its energy resources. The floating storage and regasification units (FSRUs) will be installed at the UGDC facility in Damietta, one of Egypt's most strategic natural gas terminals. These units are designed to receive, store, and transform LNG into a vaporized state for transportation through the national gas pipeline network, facilitating energy imports and optimizing storage capacity. "These large and complex components are integral to our ability to ensure energy security for Egypt in the long term," stated an official from EgyptAir Cargo. "By leveraging the world's largest cargo aircraft, we are not only ensuring the safe delivery of these components but also demonstrating our commitment to supporting national infrastructure projects." Strategic Importance of the UGDC Project The UGDC terminal at Damietta Port holds strategic importance in Egypt's LNG infrastructure. The new FSRU units will not only enhance Egypt's capacity to process and store LNG but also reinforce the country's role as a key player in the global energy market. The initiative is part of a larger effort to develop Egypt's natural gas reserves and ensure the country remains self-sufficient in its energy needs while also maintaining its position as a significant exporter of energy. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
Scoop
09-07-2025
- Business
- Scoop
New Zealand Energy Companies Explore The Feasibility Of Importing LNG
Following the rapid decline in the availability of gas for electricity generation, a group of major New Zealand energy companies have collaborated to explore the option to import liquefied natural gas (LNG) and assessed the role LNG could play to meet New Zealand's future gas demand. Clarus, Contact Energy, Genesis Energy, Meridian Energy, and Mercury, commissioned two studies, looking at both conventional-scale solutions as used across the globe, as well as smaller scale options. Paul Goodeve, Chief Executive for Clarus said, 'This work aims to provide New Zealand with a robust and clear-eyed evaluation of LNG import feasibility, and while both options are technically feasible, they each come with very different costs and benefits.' The studies were carried out between September 2024 and May 2025 by international LNG experts, Gas Strategies (from the United Kingdom) that has advised previously on similar projects and has been able to provide their international expertise and knowledge, along with engineering consultancy Wood Beca (NZ). The reports show that a gas import option may be technically feasible, though more challenging than anticipated. Study partners have shared the reports with government officials, whose support would be necessary for any option to proceed. The study partners emphasised that LNG is just one of several options being explored to support energy resilience. Investment in renewables, demand-side management and electrification remain central to the country's low carbon energy transition. 'Ultimately, our energy future will be shaped by a mix of energy options and this work ensures the option of LNG is properly understood,' Goodeve said. Key Findings: Conventional-scale LNG options provide high levels of flexibility – but at a cost LNG is equivalent to our domestic natural gas (once LNG is regasified) and can be transported using existing gas networks and used in existing gas appliances. The global LNG industry has grown considerably over recent years, with around 50 countries now relying on LNG imports to meet their domestic energy needs. The global LNG trade has standardised around large vessels (carrying around 170,000– 180,000m³, or 4.5 PJ of gas), with much of the storage and regasification equipment located on permanently moored ships (known as Floating Storage and Regasification Units or FSRUs). The real benefit of these conventional-scale LNG solutions is to improve security of energy supply, providing access to energy when required. In New Zealand's case, this may be in a dry year when hydro inflows are low, or if domestic gas supply continues to decline. The study finds that a conventional solution would allow New Zealand to access additional gas at around $18 per gigajoule (GJ) on a landed cost basis. The landed price is at the entry point to the import terminal and includes shipping. The total cost to end users would also need to account for the capital and operational costs required to deliver that gas into the system through port upgrades, regasification systems and storage, estimated at an additional $170-$210 million per year. These would also contribute to the effective delivered cost to more accurately reflect the total cost to end users. Therefore, the final delivered cost per GJ would depend on the annual throughput of the terminal. The large size of the ships involved in conventional-scale LNG imports would necessitate significant infrastructure investment, including port or pipeline upgrades. Depending on the location and technology used, capital cost estimates range from $190 million to $1 billion which is a significant investment given the uncertainty around how often LNG imports would be needed. Smaller-scale options are lower cost to build but offer less flexibility In an effort to seek out lower capital cost solutions, the work also explored smaller-scale developments that would use existing port infrastructure without major modifications. These solutions would involve much smaller vessels of around 15,000m³ in size (0.4 PJ). Roughly one tenth the size of conventional LNG carriers, they could shuttle between Australian LNG export projects and a New Zealand port, such as Port Taranaki. This model could provide an additional 7–10 PJ of energy per year to the New Zealand system, equivalent to around one month of current gas supply. Crucially, the smaller size of ships means limited site works would be required, enabling faster and more flexible development. On a landed cost basis, small-scale LNG would cost approximately 25% more than large-scale, at $20–21/GJ. The additional capital costs of smaller-scale LNG infrastructure are estimated between $140 million and $295 million, depending on how much onshore storage is built. So, while the gas costs are more expensive than conventional scale, the infrastructure costs are lower, the gas itself is expected to be more expensive. Again, the final delivered costs per GJ would need to take into account both the landed cost and capital cost. The study also highlights several issues that would need to be addressed in moving forward with smaller-scale solutions. These include securing interest from existing sellers to supply a relatively small volume of gas and ensuring sufficient storage of LNG when it arrives in New Zealand.
Egypt Independent
06-07-2025
- Business
- Egypt Independent
Egypt secures gas supplies to all sectors with four FSRUs vessels
The Egyptian Ministry of Petroleum and Mineral Resources devised a comprehensive plan to develop and transform the gas sector's infrastructure, in the first part of a strategy to increase production and secure the country's energy needs. This plan aims to enhance Egypt's ability to secure all the needs of the electricity sector, as well as various industrial and economic sectors, in a safe and sustainable manner. This plan keeps pace with regional and international changes in the energy market and enables the country to diversify inputs to the national grid when necessary. It includes expanding the import of advanced floating regasification units, which represent a strategic addition to diversifying inputs to the national natural gas grid to include local field production, pipeline import gas, and liquefied natural gas (LNG). Several agreements have been signed with leading international companies to lease modern Floating Storage Regasification Units (FSRUs), increasing the system's capacity and supporting supply stability during peak periods. In parallel, work has been underway to equip several new berths and connect them to the national natural gas grid. This will achieve a sustainable addition to Egypt's natural gas infrastructure, while ensuring a balance between supply and consumption areas to maximize the stability of the national grid. The quays at Sumed and Sonker ports in Ain Sokhna, and the United Gas Derivatives Company quay in Damietta, have been prepared for the final step of connecting the FSRUs to their designated quays, according to the planned schedule. This will bring regasification capacity during peak consumption in 2025 to 2,700 million cubic feet per day. This includes the Hoegh Galleon unit in Ain Sokhna starting in 2024, the Energos Eskimo and Energos Power units, which will be connected to the Sumed and Sonker port quays in Ain Sokhna, and the Winter unit, which will be connected to the United Gas Derivatives Company quay in Damietta. This brings the total number of FSRUs available in Egypt during the peak summer season to four. This comes in addition to close cooperation with Jordan, which has resulted in the arrival of another FSRU, 'Energy Force,' which will arrive at the port of Aqaba in Jordan in late July to connect to the Arab Gas Pipeline. This provides a new addition to both countries by providing a new gateway to the national grids, enhancing the ability to respond to any emergencies this summer with a regasification capacity of up to 750 million cubic feet per day.
