Latest news with #GASCO
Zawya
22-07-2025
- Business
- Zawya
Egypt: Badawi follows up on NATA's operational status, LNG facilities
Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi has inspected the main control center at National Advanced Transmission and Automation Center (NATA), affiliated with the Egyptian Natural Gas Co. (GASCO), in New Cairo, according to a statement. Badawi followed up on the operational status of the natural gas pumping system through the national grid, monitoring the efficient operation and flow of gas from local production. He also checked the output from the three liquefied natural gas (LNG) facilities currently operating at the SUMED and Sonker ports in Sokhna. The minister affirmed continuing efforts to ensure the sustainable provision of natural gas to meet the needs of the local market, mainly the electricity and industrial sectors, amid an increase in electrical loads during the summer period. The government succeeded in securing the electricity sector's fuel and gas needs during the past few days, when the temperature rose, Badawi added. He attributed this achievement to the national grid operating scenarios and developed maneuvers to address emergencies. Meanwhile, the petroleum ministry is joining forces with the Ministry of Electricity and Renewable Energy to determine the electricity sector's gas needs and ensure their fulfillment, relying on the agreed-upon imported LNG shipments. Finally, Badawi emphasized that the state cooperates with all its relevant agencies to secure the local market's fuel and natural gas needs, ensuring the stability of the energy system and serving the goals of economic development. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Argaam
09-07-2025
- Business
- Argaam
SABIC, GASCO mull TASI listing for GAS
Saudi Basic Industries Corp. (SABIC) and National Gas and Industrialization Co. (GASCO) started studying and evaluating certain strategic options concerning their investee company, National Industrial Gases Co. (GAS), include the possibility of an initial public offering (IPO) of GAS and listing of its shares in the main market. In two separate statements to Tadawul, both Saudi-listed firms said that the step comes to enhance added value for shareholders, stressing that the strategic options currently being evaluated are subject to the completion of studies related to financial, technical, and legal aspects. For More IPOs In the event of reaching a decision to proceed with the IPO, the process will be subject to obtaining the relevant approvals, including regulatory approvals, and prevailing market conditions, both firms added. Until then, any material developments will be announced by SABIC as required by the relevant law and regulations, the Saudi-listed firms indicated. According to data available on Argaam, GAS' capital stands at SAR 248 million. SABIC owns 74% of the company's shares, while GASCO holds 9%. GAS was established in Saudi Arabia in 1983. Its primary activity is the production of industrial gases, which it supplies to various industries. The company achieved a net profit of SAR 415.8 million in 2024.
Zawya
24-06-2025
- Business
- Zawya
Saudi: GASCO to pay over $22.9mln dividends for H1-25
The board members of National Gas and Industrialization Company (GASCO) approved cash dividends valued at SAR 86.30 million for the first half (H1) of 2025. GASCO will pay out a dividend of SAR 1.15 per share, representing 11.50% of its share capital, for 75 million eligible shares. The eligibility and payment dates for the dividends will be 30 July and 13 August 2025, respectively. In the first quarter (Q1) of 2025, GASCO posted 21.24% year-on-year (YoY) lower net profits at SAR 61.90 million, compared to SAR 78.60 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Egypt Today
22-06-2025
- Business
- Egypt Today
PM Madbouly tours national gas center, oversees arrival of new LNG vessel
Cairo – June 22, 2025: As part of an official tour on Saturday, Prime Minister Mostafa Madbouly visited the National Control Center overseeing Egypt's natural gas network to assess the country's preparedness for increased energy consumption during the summer months. The facility, managed by GASCO, plays a crucial role in distributing gas nationwide and safeguarding supply to key sectors such as electricity generation, manufacturing, and residential use. During the visit, the Prime Minister received detailed briefings on the center's operational capabilities, including its contingency systems and its ability to manage inflows of imported liquefied natural gas (LNG). In a related stop, Madbouly also toured the Energos Eskimo, a newly docked floating regasification vessel at Ain Sokhna Port, which is set to contribute to expanding the nation's LNG import infrastructure. The vessel is part of a government plan to deploy four such ships to enhance LNG import capacity. The Energos Eskimo, the second vessel of its kind after Hoegh Galleon entered service last year, will be transferred to a specially prepared berth at SUMED Port in Sokhna, capable of handling 750 million cubic feet of gas per day. Madbouly described the project as a reflection of Egypt's commitment to energy security and its proactive approach to managing seasonal demand peaks. Petroleum and Mineral Resources Minister Karim Badawi, who accompanied the Prime Minister, confirmed that a second berth at SUMED has been equipped with loading arms and pipelines connecting to the national gas network. Technical preparations for the vessel's integration into the system are expected to conclude within days. Badawi emphasized that the flexibility and resilience of the gas grid allow the state to adapt quickly to supply challenges and maintain reliable service. At the control center, officials from GASCO and EGAS highlighted the use of real-time monitoring systems and simulation software to manage national gas flows and anticipate consumption spikes. The network also coordinates continuously with the national electricity grid to ensure stable power generation, particularly during high-demand summer months. Madbouly praised the strategic approach taken by the petroleum sector, noting its ability to respond swiftly to crises such as the COVID-19 pandemic and global supply disruptions caused by the war in Ukraine. He also welcomed updates on the state's broader LNG strategy, which includes two additional FSRUs currently being prepared at Ain Sokhna and Sonker terminals, and a fourth vessel scheduled to arrive in Damietta this August. Together, the four vessels will bring an additional 2.25 billion cubic feet of gas per day into Egypt's supply mix. Badawi noted that these imports were secured through strategic negotiations with countries such as Jordan and Germany, leveraging Egypt's diplomatic relationships to ensure energy stability amid global market volatility. The petroleum minister concluded the tour by reaffirming that, alongside LNG imports, the government continues to invest in boosting domestic production. Exploration and development efforts are being ramped up, and recent measures to attract investment and stabilize partner payments are expected to gradually reverse natural production declines.
Daily News Egypt
26-05-2025
- Business
- Daily News Egypt
Petroleum Minister inspects LNG infrastructure in Ain Sokhna ahead of summer demand surge
Minister of Petroleum and Mineral Resources Karim Badawy conducted an inspection tour at Ain Sokhna's SUMED and Sonker ports to review infrastructure readiness for receiving additional Floating Storage and Regasification Units (FSRUs) as part of Egypt's summer energy preparedness plan. Joined by senior petroleum sector officials, Badawy assessed progress on critical projects supporting the import, regasification, and delivery of liquefied natural gas (LNG) into the national gas grid—an essential step in securing fuel for electricity generation during peak summer months. The minister began his visit at the marine berth in SUMED port, where the FSRU Hoegh Galleon is currently docked. He observed the vessel's ongoing operations, which include LNG unloading, regasification, and injection into the national grid. Badawy also inspected the newly completed second marine berth at SUMED, which has been under development since September of last year. Designed to host an additional regasification vessel, the berth is now 100% complete, with trial operations underway ahead of the FSRU's arrival. The project is considered a key component of Egypt's national strategy to enhance natural gas infrastructure. The tour continued at Sonker port, where the minister reviewed progress on laying horizontal pipelines that will connect a future regasification vessel to the national grid. He also examined the installation of a 36-inch, 17-kilometer gas import pipeline, which will serve as a vital conduit for the third FSRU expected to dock at the site. During the visit, Badawy received detailed briefings from Yasser Salah, Chairperson of GASCO, and Walid Lotfy, Chairperson of Petrojet. The two entities are collaborating on LNG infrastructure projects at both SUMED and Sonker ports. GASCO led the engineering and technical studies, sourced materials and equipment, and provided project management. Petrojet executed the construction, which includes two high-capacity marine and onshore pipelines, and the installation of two massive 16-inch-diameter loading arms—among the largest globally—to ensure efficient regasified gas handling. The SUMED project has been finalized and is fully operational in anticipation of the second FSRU's arrival. Meanwhile, construction continues at Sonker port to ready the infrastructure for the docking of a third regasification vessel. These developments are part of a broader national effort to reinforce Egypt's natural gas supply chain and ensure stable electricity production during the high-demand summer period.
