Latest news with #MediterraneanSea
Zawya
3 days ago
- Business
- Zawya
Egypt: President El-Sisi Reviews Progress of Transport, Industry, and Infrastructure Projects
Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Lieutenant General Kamel El-Wazir, and Presidential Advisor for Financial Affairs Lieutenant General Ahmed El-Shazly. The Spokesman for the Presidency, Ambassador Mohamed El-Shenawy, said President El-Sisi was briefed during the meeting on the implementation status of projects under the Ministry of Transport and Industry, particularly those related to the railway system. This included Al-Arish –Taba railway line and the completion of Bir El-Abd–Al-Arish railway line projects that are expected to contribute significantly to the development of the Sinai Peninsula and to the establishment of a logistical corridor linking the Red Sea to the Mediterranean Sea. The meeting also addressed updates on the development of seaports, given their pivotal role in the national development agenda. In this regard, the implementation progress of several key ports was reviewed, including Ras Sedr Port, Gargoub Port, Abu Qir Port, the Grand Port of Alexandria, the new El-Max Port, the continued development of Sokhna Port, the establishment of Taba Seaport, and ongoing development at Damietta Port. The meeting further covered the progress in constructing the fourth metro line in Cairo and the high-speed electric train project. Additionally, efforts to develop and enhance industrial zones in Wadi Al-Saririya and Al-Motahhara in Minya Governorate, and northern Fayoum in Fayoum Governorate, were discussed. These initiatives fall within the broader framework of promoting industrial development in Upper Egypt and creating more job opportunities for local residents, especially in labor-intensive industries such as textiles and ready-made garments. President El-Sisi emphasized the need to complete all projects according to their specified timelines. The President gave directives to continue efforts to accelerate the implementation of integrated developmental logistical corridors that link production areas to the developing seaports, transforming them into world-class, high-capacity hubs. This integration with Egypt's modern transportation network including roads, highways, and railways is vital for positioning Egypt as a global center for trade and logistics. Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
Zawya
6 days ago
- Business
- Zawya
Shell invests in Mina West gas discovery in Egypt's Mediterranean
Arab Finance: BG International Limited, an affiliate of Shell plc, has announced a final investment decision (FID) to develop the Mina West gas discovery in Egypt's Mediterranean Sea, according to a press release. The planned investment in Mina West contributes to increasing Shell's combined integrated gas and upstream total production by 1% annually to 2030. It is also expected to generate an internal rate of return (IRR) in excess of the hurdle rate for Shell's integrated gas business. In collaboration with the Egyptian Natural Gas Holding Company (EGAS), Shell (60%) will operate the field alongside Kufpec (Egypt) Limited (40%). Dalia Elgabry, Vice President and Country Chair of Shell Egypt, commented: 'Investing in new production at Mina West expands our industry-leading integrated gas business and supports delivery of secure, reliable energy to Egypt's domestic market in-line with our strategy to create more value with less emissions.' Discovered in October 2023, the Mina West gas field will be developed as a subsea tie-back to the existing infrastructure of West Delta Deep Marine (WDDM). It will support the delivery of reliable energy to Egypt's domestic gas market. The development of Mina West aligns with Egypt's vision to become a regional energy hub, reflecting a commitment to energy cooperation and strategic investment across the region. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
7 days ago
- Business
- Zawya
Shell invests in Mina West gas development in Egyptian Mediterranean Sea
Cairo, Egypt – BG International limited, an affiliate of Shell plc (Shell), has announced a final investment decision (FID) to develop the Mina West gas discovery in Egypt's Mediterranean Sea. Shell (60%) will operate the field alongside partner, Kufpec (Egypt) Limited (KUFPEC) (40%), working in close collaboration with Egyptian Natural Gas Holding Company (EGAS). Discovered in October 2023, the Mina West gas field will be developed as a subsea tie-back to the existing infrastructure of West Delta Deep Marine (WDDM), supporting the delivery of reliable energy to Egypt's domestic gas market. Dalia Elgabry, Vice President and Country Chair of Shell Egypt, said: 'Investing in new production at Mina West expands our industry-leading integrated gas business and supports delivery of secure, reliable energy to Egypt's domestic market in-line with our strategy to create more value with less emissions.' This targeted investment contributes towards growing Shell's combined Integrated Gas and Upstream total production by 1% per year to 2030. The investment in Mina West is expected to generate an internal rate of return (IRR) in excess of the hurdle rate for Shell's Integrated Gas business. The accelerated maturation of Mina West is an example of the role Shell and partners continue to play in Egypt, with the development reinforcing Egypt's vision to become a regional energy hub and reflects a commitment to energy cooperation and strategic investment across the region.
Zawya
23-07-2025
- Business
- Zawya
KUFPEC announces final investment decision with Shell Egypt to develop gas exploration at Mina West field
CAIRO: A subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced on Tuesday a final investment decision with Shell Egypt to develop gas exploration at Egypt's Mina West field, Kuwaiti state news agency reported. The field is located in the North East El-Amriya block in the Mediterranean Sea. (Reporting by Menna Alaa El-Din and Muhammed Al Gebaly; Editing by Chris Reese)
TechCrunch
16-07-2025
- Business
- TechCrunch
Meet the cement transport ship that makes cement ingredients while sailing
Shipping has a pollution problem, but one company has a solution that does more than just eliminate a boat's carbon dioxide. London-based Seabound has developed a carbon capture system that transforms CO 2 from the engine into limestone, a key ingredient in cement. Fittingly, the company has installed it aboard the UBC Cork, a cement carrier currently sailing through the Mediterranean Sea. When the ship docks in Norway, the limestone created from the voyage will be offloaded and used to make more cement at Heidelberg Materials' net-zero plant in Brevik. (The name Heidelberg may ring a bell — earlier this year, it inked a deal to deploy more than 100 autonomous trucks from former Google exec Anthony Levandowski's startup Pronto.) Both maritime shipping and cement are highly polluting industries, representing about 3% and 8% of global carbon emissions, respectively. Their emissions are challenging to address, too. For shipping, batteries are not currently energy-dense enough to enable the sorts of voyages many vessels undertake. And the chemical reaction that forms Portland cement, the most widely used type, releases carbon dioxide, to say nothing of the fossil fuels that typically drive the process. There's some urgency for maritime shipping to rein in its pollution: The International Maritime Organization (IMO), which regulates the global shipping industry, will require owners to trim greenhouse gas emissions from their fleets by 30% over the next decade, rising to 65% by 2040. Seabound is just one company developing potential solutions. Another, Amogy, is proposing using its clever ammonia-cracking technology to deliver zero-emission power. While ammonia has gained currency in the shipping industry as an energy-dense fuel with the potential to eliminate greenhouse gas emissions, its use would require ships to overhaul or completely replace their power plants. Seabound is proposing a retrofit that would leave existing internal combustion engines intact, adding a carbon capture system that would tap into their exhaust pipes. Heidelberg Materials said that the use of Seabound's technology would help it reduce the emissions that result from shipping its cement.
