{"id":595030,"date":"2019-09-15T02:54:59","date_gmt":"2019-09-15T02:54:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/15\/egypts-position-as-regional-gas-export-hub-for-east-med-gets-us-support\/"},"modified":"2019-09-15T02:54:59","modified_gmt":"2019-09-15T02:54:59","slug":"egypts-position-as-regional-gas-export-hub-for-east-med-gets-us-support","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/15\/egypts-position-as-regional-gas-export-hub-for-east-med-gets-us-support\/","title":{"rendered":"Egypt\u2019s position as regional gas export hub for East Med gets US support"},"content":{"rendered":"

<\/a> Egypt\u2019s position as regional gas export hub for East Med gets US support: <\/b>US Deputy Energy Secretary Dan Brouillette met with Oil Minister Tarek El Molla on Thursday in Cairo to discuss moving forward with the US-Egypt Strategic Energy Dialogue \u2014 a bilateral cooperation initiative aimed at strengthening Egypt\u2019s energy production, storage and distribution capacity. The project, which came out of an MoU<\/a> signed during US Secretary of Energy Rick Perry\u2019s visit in July, seeks to capitalize on Egypt\u2019s position as the regional gas export hub for the East Mediterranean Gas Forum countries and hopes to attract new energy investments, said Brouillette. Following the meeting, Brouillette held a roundtable with a select few news outlets, including Enterprise, to discuss the initiative and Egypt\u2019s role in the region\u2019s energy. The Wall Street Journal<\/a> also had the story.<\/p>\n

Dialogue to help encourage US private investment in Egypt\u2019s energy sector:<\/b> The US-Egypt Strategic Energy Dialogue aims to \u201cfacilitate closer government and private sector cooperation on energy between the United States and Egypt,\u201d according to an official statement<\/a>. \u201cWe\u2019re going to be working through this dialogue, to not only attract US investment here in the region, but also to do technology transfer and sharing from our national laboratories of the Department of Energy,\u201d Brouillette said. The dialogue will see the two countries \u201ccooperate on a number of shared areas of interest across the energy sector, including but not limited to enhancing energy trade, clean coal technology, carbon capture utilization and storage, bio-economy, energy efficiency and renewable energy, green building technologies, smart grids, and energy capacity building.\u201d The two sides will get together to set the framework for the dialogue \u201cvery soon\u201d but have yet to set a date, Brouillette said, hoping to be back in the region within 2-3 months to continue talks.<\/p>\n

Brouillette said that the launch of strategic energy dialogue demonstrates US support for Egypt\u2019s plan to become an energy hub<\/b> as well as the East Mediterranean Gas Forum (EMGF). \u201cWe do see this forum as a key component to not only energy security in the region, but overall security in the region,\u201d the official said.<\/p>\n

East Med Gas Forum is important to global energy competition (wink, wink, Russia):<\/b> In response to questions on whether the East Med Gas Forum will hurt Russian influence as a natural gas exporter, Brouillette said: \u201cWe want competition in the marketplace. We\u2019ve talked to the Europeans, we\u2019ve talked to others who are interested in buying natural gas not only from the US but from other parts of the world.\u201d He added that the move would also benefit consumers who would in turn benefit from better pricing.<\/p>\n

Challenges getting gas to Egypt, including security, remain but are \u201csolvable\u201d: <\/b>The security situation in North Sinai has disrupted plans for Egypt to begin importing natural gas from Israel as part of a USD 15 bn<\/a> agreement signed last year, Brouillette told reporters, including Enterprise. Infrastructure plans of a pipeline to connect the two countries have been delayed by security threats in the region where Egypt is fighting Daesh. Israel should\u2019ve begun exporting natural gas to Egypt in March based on two binding agreements that would\u2019ve seen the latter receive supply from its neighbor via Dolphinus Holding. \u201cI do think the security issues factor into this,\u201d Brouillette said, adding however that he thinks those security challenges are \u201csolvable.\u201d Oil Minister Tarek El Molla said last week<\/a> that Egypt expects to begin receiving natural gas from Israel by the end of the year.<\/p>\n

US to lend a helping hand in getting Turkey off the back of the East Med Gas Forum: <\/b>The US has been in talks with both the Turkish and Cypriot governments and have shown Turkey that they were \u201cnot supportive of the efforts that they have ongoing,\u201d Brouillette said, adding that his country is working on reaching a resolution. He is of course referencing the two years of bullying and threats made by Turkey that any agreement to extract gas from Cyprus must include Turkish Cyprus.<\/p>\n

What could Egypt be doing to attract more US investments?<\/b> \u201cI think they\u2019re doing a lot of what they need to be doing,\u201d said Brouillette. \u201cThey\u2019ve stabilized the market to some degree internally, they\u2019ve indicated a willingness to do more development, which is also important. That indication usually attracts investment.\u201d Brouillette said investors, especially multinationals, want \u201ccertainty\u201d and reliable contracts, something Egypt has already been able to provide. Egypt has attracted USD 30 bn in investments in its energy sector<\/b>, which contributes 25% of the country\u2019s GDP, El Mollasaid in a statement<\/a>.<\/p>\n

We had to ask a Trump administration official if we can hope for US support in renewable energy: <\/b>\u201cThere are several US companies that are interested in investing in [Benban], we want to put them in contact with the right folks here in Egypt,\u201d Brouillette told reporters. The US is keen to work with the Egyptian government on technology transfer of battery storage. \u201cWe think that\u2019s an important part of [Egypt\u2019s energy] diversity and security here in the region.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s position as regional gas export hub for East Med gets US support: US Deputy Energy Secretary Dan Brouillette met with Oil Minister Tarek El Molla on Thursday in Cairo to discuss moving forward with the US-Egypt Strategic Energy Dialogue \u2014 a bilateral cooperation initiative aimed at strengthening Egypt\u2019s energy production, storage and distribution capacity. 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trading and export hub, notably for natural gas, according to a report by BNP Paribas (pdf) that suggests Egypt\u2019s bid to transform itself into a hub will depend on the country\u2019s capacity to mitigate geopolitical, financial, and regulatory risks.BNP Paribas says \u201cEgypt\u2019s\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":595124,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/17\/noble-delek-say-natural-gas-agreement-with-egypt-going-according-to-plan-to-calm-investor-concerns\/","url_meta":{"origin":595030,"position":1},"title":"Noble, Delek say natural gas agreement with Egypt going according to plan to calm investor concerns","author":"enterpriseam admin","date":"17 September 2019","format":false,"excerpt":"Noble, Delek attempt to allay fears of gas export delays to Egypt: The USD 15 bn agreement with Egypt is \u201cadvancing as it should,\u201d Israel\u2019s Noble Energy and Delek Drilling said on Sunday, according to Eran Azran\u2019s op-ed piece in Haaretz. The statements follow those made by US Deputy Energy\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\/2020\/1\/613.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634471,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/16\/egypts-role-indispensible-in-developing-east-med-gas-hub-butler\/","url_meta":{"origin":595030,"position":2},"title":"Egypt\u2019s role indispensible in developing east Med gas hub -Butler","author":"enterpriseam admin","date":"16 January 2018","format":false,"excerpt":"Egypt can once again become an energy exporter and \u201cbuild on its existing role as one of the most important trading hubs in the region, ideally placed to link western and eastern markets,\u201d Nick Butler writes for The Financial Times. \u201cEgypt\u2019s opportunity is that it finds itself at the crossroads\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":597252,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/eu-to-provide-egypt-with-eur-20-mn-in-funding-to-wean-itself-off-russian-gas\/","url_meta":{"origin":595030,"position":3},"title":"EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas","author":"enterpriseam admin","date":"21 July 2019","format":false,"excerpt":"EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas: The EU is planning to provide Egypt with EUR 20 mn in funding for its natural gas sector, according to statements by the EU delegation\u2019s head in Egypt Ivan Surkos picked up by Al\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\/2020\/9\/17.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631159,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/12\/is-shell-nearing-a-usd-25-bn-agreement-that-could-see-egypt-become-an-east-med-export-hub\/","url_meta":{"origin":595030,"position":4},"title":"Is Shell nearing a USD 25 bn agreement that could see Egypt become an East Med export hub?","author":"enterpriseam admin","date":"12 March 2018","format":false,"excerpt":"Is Shell nearing a USD 25 bn agreement that could see Egypt become an East Med gas export hub? Shell is reportedly in talks to buy gas from the Israel\u2019s Leviathan and Cyprus\u2019 Aphrodite gas fields in a USD 25 bn, 10-year agreement, Israel\u2019s Globes reports citing a report from\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":568186,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/whos-jockeying-with-the-suez-canal\/","url_meta":{"origin":595030,"position":5},"title":"Who\u2019s jockeying with the Suez Canal?","author":"enterpriseam admin","date":"21 December 2020","format":false,"excerpt":"The Suez Canal Authority will slash transit fees for large oil tankers traveling between northern Europe and southeast Asia by 48% as it looks to maintain the canal\u2019s status as a critical shipping route, Al Malreports. The authority began implementing the decision earlier this month and the discounts will run\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/354.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595030","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=595030"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595030\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595025"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595031"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595030"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595030"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}