{"id":559095,"date":"2021-01-10T03:45:10","date_gmt":"2021-01-10T03:45:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/10\/its-a-gas-gas-gas\/"},"modified":"2021-01-10T03:45:10","modified_gmt":"2021-01-10T03:45:10","slug":"its-a-gas-gas-gas","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/10\/its-a-gas-gas-gas\/","title":{"rendered":"It\u2019s a gas, gas, gas"},"content":{"rendered":"

<\/a> TAQA Arabia will invest EGP 3.6 bn to build 180 natgas filling stations between now <\/strong>and 2023<\/strong>, Executive Chairman Khaled Abu Bakr told Kelma Akhira\u2019s Lamees El Hadidi last night (watch, runtime: 9:22)<\/a>. Qalaa Holdings\u2019 energy distributor was announced last week<\/a> as a private sector partner that will help expand the country\u2019s network of natgas stations as more gas-fuelled cars and buses take to the roads over the coming years. The company will spend EGP 800 mn to construct 40 stations this year, EGP 1.2 bn on 60 stations in 2022 and EGP 1.6 bn on 80 stations in 2023, Abu Bakr said.<\/p>\n

This means that TAQA has taken more than half of the 300 stations<\/strong> the government plans to establish over the next three years.<\/p>\n

We\u2019re also getting more Chillout-branded natgas fueling stations<\/strong>:<\/strong> The Natural Gas Vehicles Company (Cargas) and Gastec signed an agreement on Wednesday to hand over 24 plots of land to Chillout (a subsidiary of state-owned Wataniya for Roads) to set up the stations, according to an Oil Ministry statement<\/a>.<\/p>\n

The National Bank of Egypt is planning to finance EGP 5-7 bn-worth of car replacements<\/strong>, the bank\u2019s retail risk head, Karim Sous, said, according to Al Shorouk<\/a>. The central bank last week said<\/a> it will make EGP 15 bn available for banks to loan out to car owners wanting to own dual-fuel vehicles. Borrowers will pay a fixed 3% rate of interest and the loan terms will range between seven and 10 years.<\/p>\n

ALSO ON THE ENERGY FRONT- <\/strong>Fuel prices are staying unchanged for another three months<\/strong>, the government\u2019s fuel pricing committee decided at its first meeting of the year on Wednesday, according to a statement<\/a>. The decision will keep 95-octane at EGP 8.50 per liter, 92-octane at EGP 7.50, and 80-octane at EGP 6.25. Meanwhile, diesel prices will stay at EGP 6.75 per liter and mazut (heavy fuel oil) for factories is unchanged at EGP 3.9k per tonne.<\/p>\n

Fuel prices have now been held steady since <\/strong>last April<\/a><\/strong>, when the committee cut fuel prices by EGP 0.25 across the board. The decision to keep prices unchanged for another three months is meant to create price stability amid \u201ccurrent circumstances\u201d with the ongoing pandemic, the statement says.<\/p>\n","protected":false},"excerpt":{"rendered":"

TAQA Arabia will invest EGP 3.6 bn to build 180 natgas filling stations between now and 2023, Executive Chairman Khaled Abu Bakr told Kelma Akhira\u2019s Lamees El Hadidi last night (watch, runtime: 9:22). Qalaa Holdings\u2019 energy distributor was announced last week as a private sector partner that will help expand the country\u2019s network of natgas […]<\/p>\n","protected":false},"author":1,"featured_media":559096,"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":[93,72,819,3528,7111,268,613,615,195],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-fuel","tag-gastec","tag-infrastructure","tag-natgas-transition-scheme","tag-qalaa-holdings","tag-taqa-arabia","tag-tarek-el-molla","wpautop","entry"],"acf":{"mongo_id":"b78d6f10-5c2d-40a4-aef9-3e53fb3a5466","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/1\/93.jpg","photo_position":"above","related_issue":[559086],"teaser":"","voice_url":""},"yoast_head":"\nIt\u2019s a gas, gas, gas - 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\/01\/10\/its-a-gas-gas-gas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s a gas, gas, gas\" \/>\n<meta property=\"og:description\" content=\"TAQA Arabia will invest EGP 3.6 bn to build 180 natgas filling stations between now and 2023, Executive Chairman Khaled Abu Bakr told Kelma Akhira\u2019s Lamees El Hadidi last night (watch, runtime: 9:22). 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The new stations will bring the total number operated by the Qalaa Holdings subsidiary to 21,\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":572970,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/15\/taqa-arabia-inaugurates-its-first-natgas-fueling-station-with-national-company-for-roads-with-plans-to-construct-50\/","url_meta":{"origin":559095,"position":2},"title":"TAQA Arabia inaugurates its first natgas fueling station with National Company for Roads, with plans to construct 50","author":"enterpriseam admin","date":"15 July 2020","format":false,"excerpt":"TAQA Arabia inaugurates its first natgas fueling station with National Company for Roads as part of EGP 650 mn plan to build out 50 stations: Qalaa Holdings subsidiary TAQA Arabia and the National Company for Roads inaugurated yesterday the first natural gas fueling station under their three-year, EGP 650 mn\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561510,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/govt-doubles-natgas-station-target-to-1k-by-the-end-of-2021\/","url_meta":{"origin":559095,"position":3},"title":"Gov\u2019t doubles natgas station target to 1k by the end of 2021","author":"enterpriseam admin","date":"11 April 2021","format":false,"excerpt":"Egypt should have 1k natural gas filling stations set up nationwide by the end of the year under a government-backed program to expand natgas refueling infrastructure as Egypt moves forward with its plan to convert or replace gasoline-fueled cars, Oil Minister Tarek El Molla said, according to Al Mal. The\u2026","rel":"","context":"In "THE NATGAS TRANSITION"","block_context":{"text":"THE NATGAS TRANSITION","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-natgas-transition\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559011,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/05\/meet-our-greener-future\/","url_meta":{"origin":559095,"position":4},"title":"Meet our green(er) future","author":"enterpriseam admin","date":"5 January 2021","format":false,"excerpt":"The Central Bank of Egypt (CBE) has launched a multi-bn EGP program to encourage car owners to outfit their vehicles with dual-fuel engines under the government\u2019s natural gas transition plan, Governor Tarek Amer said, according to Al Shorouk. Announced yesterday on the first day of the Go Green Exhibition \u2014\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/53.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546194,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/08\/qalaa-losses-narrow-in-2021\/","url_meta":{"origin":559095,"position":5},"title":"Qalaa losses narrow in 2021","author":"enterpriseam admin","date":"8 May 2022","format":false,"excerpt":"Rising revenues helped Qalaa Holdings to narrow its losses to EGP 2.3 bn in 2021 from EGP 2.6 bn the year before, according to the company\u2019s full year earnings release (pdf). 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