{"id":556185,"date":"2021-10-14T04:06:30","date_gmt":"2021-10-14T04:06:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/egypt-greece-electricity-linkage-will-make-headway-with-mou-signing-today\/"},"modified":"2021-10-14T04:06:30","modified_gmt":"2021-10-14T04:06:30","slug":"egypt-greece-electricity-linkage-will-make-headway-with-mou-signing-today","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/egypt-greece-electricity-linkage-will-make-headway-with-mou-signing-today\/","title":{"rendered":"Egypt-Greece electricity linkage will make headway with MoU signing today"},"content":{"rendered":"

<\/a> Egypt and Greece are set to agree on building an undersea cable through which<\/strong> Egypt will export surplus electricity to Greece<\/strong>, with the two countries set to sign an MoU in Athens later today, a Greek Energy Ministry official tells Reuters<\/a>. The subsea cable comes as part of the USD 4 bn EuroAfrica Interconnector<\/a> project, which will connect the electrical grids of Egypt, Greece, and Cyprus. The project comes as part of Egypt\u2019s ambitions to become a regional energy hub and exporter of green energy to Europe. Egypt, which has committed to producing 42% of its electricity from renewables by 2035, produces an excess of solar energy, which is notoriously hard to store.<\/p>\n

What\u2019s the progress on the linkage so far?<\/strong> The first, EUR 2.5 bn phase of the project will<\/a>connect<\/a> the three countries\u2019 grids and is set for commissioning by December 2023 with an initial capacity of 1 GW. The project has been in the works for a while, as Cairo, Athens, and Nicosia signed the framework agreement back in 2019<\/a>. The project comes at a time when Europe is experiencing the first (but certainly not last) renewable energy crisis<\/a> in the renewable energy transition.<\/p>\n

\n

OTHER ENERGY NEWS- Egypt\u2019s LNG exports are set to rise this month compared <\/strong>to September, <\/strong>as shipments from the Idku liquefaction plant and the recently-revived Damietta plant ramp up, industry insiders told Reuters<\/a> yesterday. Five shipments have already sailed so far into the month, with a vessel currently loading at the Idku plant, and another due on 16 October, according to data intelligence firm Kpler. The intelligence firm expects three shipments to leave each of the Idku and Damietta plants in the first half of October, compared to a total of five during the entire month of September. The increase also owed to a sell tender recently launched by state-owned EGAS for shipment on 31 October.<\/p>\n

The numbers:<\/strong> The country exported a record 4.3 mn tonnes of LNG in 9M2021, up from only 0.45 mn tonnes a year earlier, thanks to an improvement in local supplies and in the pricing environment, a Kpler analyst told Reuters. Egypt exported 1.4 bn tonnes in 2Q2021, compared to none over the same period last year.<\/p>\n

Egypt became a net exporter of LNG in 2018 <\/strong>after the discovery of the supergiant Zohr gas field \u2014 the Mediterranean\u2019s largest \u2014 allowed us to pull the plug<\/a> on LNG imports. While Egypt was the Middle East\u2019s biggest LNG importer<\/a> in 2016 and 2017, it made the largest contribution to the growth of Arab countries\u2019 LNG exports in 2Q2021, according to a report<\/a> by the Organization of Arab Petroleum Exporting Countries (OAPEC) issued in August.<\/p>\n

Egypt\u2019s LNG exports also picked up steam after we brought the Damietta liquefied natural gas (LNG) plant online <\/strong>earlier in the year<\/a><\/strong> following an eight-year hiatus. The revival of the plant was expected to boost Egyptian natgas supplies to Europe, at least 30 LNG shipments have made their way out<\/a> of the revived plant and the Idku facility since then.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt and Greece are set to agree on building an undersea cable through which Egypt will export surplus electricity to Greece, with the two countries set to sign an MoU in Athens later today, a Greek Energy Ministry official tells Reuters. The subsea cable comes as part of the USD 4 bn EuroAfrica Interconnector project, […]<\/p>\n","protected":false},"author":1,"featured_media":556186,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,381,1130,150,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-greece","tag-green-energy","tag-renewable-energy","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"5d58a836-bff9-4fc9-9db3-c2828087edec","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/158.jpg","photo_position":"above","related_issue":[556175],"teaser":"","voice_url":""},"yoast_head":"\nEgypt-Greece electricity linkage will make headway with MoU signing today - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/egypt-greece-electricity-linkage-will-make-headway-with-mou-signing-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt-Greece electricity linkage will make headway with MoU signing today\" \/>\n<meta property=\"og:description\" content=\"Egypt and Greece are set to agree on building an undersea cable through which Egypt will export surplus electricity to Greece, with the two countries set to sign an MoU in Athens later today, a Greek Energy Ministry official tells Reuters. 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The MoUs with Greece \u2014 signed by Electricity Minister Mohamed Shaker on Thursday during a\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621757,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/electricity-ministry-has-concerns-on-implementation-cost-of-cyprus-power-linkage-project\/","url_meta":{"origin":556185,"position":1},"title":"Electricity Ministry has concerns on implementation cost of Cyprus power linkage project","author":"enterpriseam admin","date":"18 November 2018","format":false,"excerpt":"The Electricity Ministry reportedly has concerns over the implementation cost and landing point of the 2,000 MW subsea power cable to connect the electricity grids of Egypt, Cyprus, and Greece, unnamed government sources said. The ministry sent comments to EuroAfrica Interconnector on its prepared feasibility studies for the USD 4\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601066,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/18\/egypt-finalizing-procedures-to-begin-electricity-linkage-project-with-cyprus\/","url_meta":{"origin":556185,"position":2},"title":"Egypt finalizing procedures to begin electricity linkage project with Cyprus","author":"enterpriseam admin","date":"18 February 2019","format":false,"excerpt":"Egypt is finalizing the procedures needed to begin the electricity linkage project with Cyprus, the Electricity Ministry said in a statement. The project will open the door for electricity linkage between Egypt and Europe and using new renewable energy capacity to help Egypt serve as an energy hub in the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":579331,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/us-contractor-mcdermott-to-work-on-greece-africa-power-interconnector\/","url_meta":{"origin":556185,"position":3},"title":"US contractor McDermott to work on Greece\u2013Africa Power Interconnector","author":"enterpriseam admin","date":"2 February 2023","format":false,"excerpt":"Another Greece-Egypt electricity interconnector is in the works: The US contractor McDermott has signed an MoU with Greek renewables company Eunice Energy Group to work on a 2-GW interconnector that will link Greece and Egypt\u2019s electricity grids, according to a joint statement. The Greece\u2013Africa Power Interconnector (GAP) will transit the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556331,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/20\/greece-wants-to-be-egypts-gateway-to-the-eu-energy-market\/","url_meta":{"origin":556185,"position":4},"title":"Greece wants to be Egypt\u2019s gateway to the EU energy market","author":"enterpriseam admin","date":"20 October 2021","format":false,"excerpt":"Greek Prime Minister Kyriakos Mitsotakis has pledged to link Egypt to the EU energy market through the undersea cable projects Egypt signed with each of Greece and Cyprus this week. \u201c[Egypt\u2019s] link to Europe will be Greece \u2026 [it] can also become a provider of electricity, which will be produced\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/219.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592793,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/06\/egypt-jordan-sign-power-linkage-mou-with-gcc-interconnection-authority\/","url_meta":{"origin":556185,"position":5},"title":"Egypt, Jordan sign power linkage MoU with GCC Interconnection Authority","author":"enterpriseam admin","date":"6 November 2019","format":false,"excerpt":"Egypt, Jordan sign power linkage MoU with GCC Interconnection Authority: Egypt and Jordan signed an MoU and two data confidentiality agreements with the GCC Interconnection Authority to link the two countries' electric grids with GCC countries, according to a cabinet statement. The transmission capacity of the GCC interconnection grid is\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=556185"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556185\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556186"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556185"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556185"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}