{"id":597252,"date":"2019-07-21T04:01:56","date_gmt":"2019-07-21T04:01:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/eu-to-provide-egypt-with-eur-20-mn-in-funding-to-wean-itself-off-russian-gas\/"},"modified":"2019-07-21T04:01:56","modified_gmt":"2019-07-21T04:01:56","slug":"eu-to-provide-egypt-with-eur-20-mn-in-funding-to-wean-itself-off-russian-gas","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/eu-to-provide-egypt-with-eur-20-mn-in-funding-to-wean-itself-off-russian-gas\/","title":{"rendered":"EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas"},"content":{"rendered":"

<\/a> EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas:<\/b> 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 Mal<\/a>. The funding would be weaved into a series of loans from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and a number of other financial institutions to the gas sector, Surkos said at the signing of a fuel bunkering agreement between the Oil Ministry and the port of Antwerp on Tuesday. \u201cThe new project, called EU for Energy, is a five-year project for capacity building, passing experience, and strengthening the expertise of Egypt in the gas sector,\u201d Surkos told the local press<\/a>.<\/p>\n

The motive \u2014 EU sees East Mediterranean gas (and our prime position in it) as an alternative to Russian gas: <\/b>Surkos revealed that the grand vision for the aid is to help the EU wean itself off of Russian gas, with the East Mediterranean gas reserves and Egypt\u2019s position in it as an export hub being the most viable alternative. Establishing the East Mediterranean Gas Forum (EMGF) \u2014 founded in Cairo back in January<\/a> to bringing together the gas markets of Egypt, Cyprus, Israel, Greece, and Italy \u2014 is crucial for the EU to lower its dependence on Russian gas, and the East Mediterranean gas will be a convenient alternative source of energy for Europe, Surkos said. \u201cWe will announce a certain financial support for the EMGF next week as a symbolic amount of funding to support the regional cooperation in gas and energy,\u201d he added.<\/p>\n

Protecting its investment \u2014 EU is planning measures to counter Turkey\u2019s interloping:<\/b> It looks like the EU will push through with measures designed to dissuade Turkey from drilling illegally off the coast of Cyprus. \u201cIt has been announced that the EU is going to suspend negotiations with Turkey about Comprehensive Air Transport Agreement,\u201d said Surkos. \u201cThe European commission will request the EIB to review all projects which the bank is implementing in Turkey, as part of other decisions, to make Turkey stop its drilling activities off the coast of Cyprus,\u201d he noted.<\/p>\n

New EU funding also coming for electricity: <\/b>The EU will announce new funds to strengthen Egypt\u2019s electricity grid through connecting it with the renewable sources\u2019 produced energy, Surkos is reported to have said.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 Mal. The funding would be […]<\/p>\n","protected":false},"author":1,"featured_media":597253,"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":[8572],"tags":[1953,72,7192,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-eastern-mediterranean-gas-forum","tag-enterpriseam","tag-eu","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"39179f77-972d-471e-92f0-74be26c25c8a","is_powered_by":true,"section_story_id":"4d4d3eb7-cc68-4a66-97b3-c12fce56eb92","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/9\/17.jpg","photo_position":"above","related_issue":[597238],"teaser":"","voice_url":""},"yoast_head":"\nEU to provide Egypt with EUR 20 mn in funding to wean itself off Russian 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\/2019\/07\/21\/eu-to-provide-egypt-with-eur-20-mn-in-funding-to-wean-itself-off-russian-gas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas\" \/>\n<meta property=\"og:description\" content=\"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 Mal. 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The funding includes: EUR 75 mn for water and energy project studies;EUR 25 mn to upgrade\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":597491,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/29\/egypt-israel-considering-new-lng-facility-in-sinai\/","url_meta":{"origin":597252,"position":1},"title":"Egypt, Israel considering new LNG facility in Sinai","author":"enterpriseam admin","date":"29 July 2019","format":false,"excerpt":"Egyptian and Israeli authorities are reportedly considering building a USD 15 bn natural gas liquefaction facility on the Red Sea coast in Sinai to drive liquefied natural gas (LNG) exports into Asia from both countries, sources told Israeli business news publication Globes. The facility would eliminate the need for LNG\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\/2019\/7\/3300.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":630508,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/23\/international-lenders-team-up-to-support-egypts-usd-1-2-bn-natural-gas-connection-project\/","url_meta":{"origin":597252,"position":2},"title":"International lenders team up to support Egypt\u2019s USD 1.2 bn natural gas connection project","author":"enterpriseam admin","date":"23 April 2018","format":false,"excerpt":"International lenders teamed up to support Egypt\u2019s USD 1.2 bn natural gas connection project: It looks like the World Bank, EU, and French Development Agency (AFD) have all contributed funding to the USD 1.2 bn project to connect more Egyptian households to the natural gas grid. Egypt received USD 300\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":623024,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/18\/eib-approves-eur-214-mn-loan-for-kitchener-drain-depollution\/","url_meta":{"origin":597252,"position":3},"title":"EIB approves EUR 214 mn loan for Kitchener Drain depollution","author":"enterpriseam admin","date":"18 October 2018","format":false,"excerpt":"The European Investment bank (EIB) approved a EUR 214 mn loan for Egypt\u2019s Kitchener Drain depollution project, according to an Investment Ministry statement (pdf). The loan brings up the total financing pledged for the project to EUR 400 mn, with EUR 148 mn approved by the European Bank for Reconstruction\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":[]},{"id":646590,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/19\/kabil-postpones-meeting-with-eu-officials-over-automotive-directive\/","url_meta":{"origin":597252,"position":4},"title":"Kabil postpones meeting with EU officials over automotive directive","author":"enterpriseam admin","date":"19 June 2017","format":false,"excerpt":"Kabil postpones talks with EU officials on automotive directive: Trade and Industry Minister Tarek Kabil has postponed a planned visit to Brussels during which he was expected to discuss the EU\u2019s concerns about the proposed automotive directive, EU Mission Chief to Egypt Ivan Surko\u0161 tells Al Mal. The local press\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":575167,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/05\/eib-approves-eur-750-mn-loan-for-egypts-smes-world-bank-mulls-railway-funding\/","url_meta":{"origin":597252,"position":5},"title":"EIB approves EUR 750 mn loan for Egypt\u2019s SMEs, World Bank mulls railway funding","author":"enterpriseam admin","date":"5 October 2020","format":false,"excerpt":"DEBT WATCH- The European Investment Bank (EIB) has approved a EUR 750 mn facility for Banque Misr to on-lend to SMEs impacted by the covid-19 pandemic to finance working capital, according to the bank\u2019s website. The facility has been in the pipeline since mid-August. The EIB signed off in July\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597252","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=597252"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597252\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597253"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597252"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597252"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}