{"id":630551,"date":"2018-04-24T04:14:57","date_gmt":"2018-04-24T04:14:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/"},"modified":"2018-04-24T04:14:57","modified_gmt":"2018-04-24T04:14:57","slug":"egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/24\/egypt-could-get-as-much-as-eur-3-8-bn-from-the-eu-under-2018-2022-energy-cooperation-agreement\/","title":{"rendered":"Egypt could get as much as EUR 3.8 bn from the EU under 2018-2022 energy cooperation agreement"},"content":{"rendered":"

<\/a> EU could provide as much as EUR 3.8 bn in financing to help Egypt transform into regional energy hub as two sides ink energy cooperation agreement: <\/strong>Egypt and the European Union signed a memorandum of understanding on energy cooperation yesterday that is widely expected to pave the way for Egypt to become a gas export hub to Europe. Under the four-year agreement \u2014 which covers cooperation on electricity, as well as oil and gas \u2014 the EU and Egypt will work together to help the country realize its goal of becoming a regional hub for LNG exports through continued support and the adoption of new energy efficiency strategies, the EU and Egypt said in a joint release<\/a>. Egypt could receive as much as EUR 3.8 bn in funding for energy projects,<\/strong> EU Energy Commissioner Miguel Arias Ca\u00f1ete told the press yesterday, Al Masry Al Youm reports<\/a>.<\/p>\n

Egypt becomes part of EU energy security framework: <\/strong>The EU will also provide Egypt with support on renewable energy through \u201ctechnological, scientific, and industrial cooperation\u2026 [as it] recognizes Egypt\u2019s active participation in the ongoing Euro-Mediterranean energy cooperation and the country\u2019s growing pivotal role in energy supply and transit to the Euro-Mediterranean energy market,\u201d the statement said, adding that the agreement will \u201ccontribute to fulfilling the EU's strategic objectives to enhance security of supply and diversification.\u201d<\/p>\n

Background:<\/strong> The agreement was signed during Ca\u00f1ete\u2019s visit to Cairo<\/a>, which wraps up today, during which he has been meeting with top state officials, including President Abdel Fattah El Sisi, and the heads of European oil majors in Egypt to discuss ways to further boost energy cooperation. Energy cooperation talks with the EU had started in December, after Cairo reached a preliminary agreement with Nicosia to establish a pipeline<\/a> connecting the Cypriot Aphrodite field to one of Egypt\u2019s liquefaction plants in Idku or Damietta for re-export to Europe. Egypt\u2019s Dolphinus Holdings has also signed a similar-style agreement with Israel<\/a> worth USD 15 bn. The EU has extended Egypt EUR 300 mn in energy support grants so far, according to an EU handout picked up by Al Mal<\/a>. Oil Minister Tarek El Molla had previously said<\/a> that Egypt would be ready to export natural gas by year\u2019s end, once new fields, including the supergiant Zohr, begin feeding more output into the grid.<\/p>\n

Egypt is ready to become an LNG exporter, <\/strong>Qalaa Holding Founder and Chairman Ahmed Heikal tells CNBC<\/a>, citing new gas discoveries as well as Egypt\u2019s liquefaction capacities as proof to investors that \u201cEgypt is ready to perform a very important role as a hub for energy, especially gas exports.\u201d El Molla had said on Sunday<\/a> that Egypt was looking to attract as much as USD 10 bn in new foreign investments in the oil and gas sector in FY2018-19.<\/p>\n","protected":false},"excerpt":{"rendered":"

EU could provide as much as EUR 3.8 bn in financing to help Egypt transform into regional energy hub as two sides ink energy cooperation agreement: Egypt and the European Union signed a memorandum of understanding on energy cooperation yesterday that is widely expected to pave the way for Egypt to become a gas export […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630551","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4a337ab2-8260-4852-bee7-2c2c961a1fd7","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[630544],"teaser":"","voice_url":""},"yoast_head":"\nEgypt could get as much as EUR 3.8 bn from the EU under 2018-2022 energy cooperation agreement - 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Israel appears to still be trying to get a EUR 6 bn natural gas pipeline to sell natural gas from its Leviathan field to Europe. The pipeline would connect its fields to Cyprus, Greece and Italy. Israel\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":628418,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/cyprus-israel-look-to-settle-territorial-dispute-over-aphrodite-gas-field-approve-egypts-lng-pipeline\/","url_meta":{"origin":630551,"position":1},"title":"Cyprus, Israel look to settle territorial dispute over Aphrodite gas field, approve Egypt\u2019s LNG pipeline","author":"enterpriseam admin","date":"3 May 2018","format":false,"excerpt":"Cyprus, Israel look to settle territorial dispute over Aphrodite gas field, possibly clearing last barrier to pipeline connecting Aphrodite to Egypt: Cyprus and Israel are looking to settle their ongoing dispute over their respective maritime borders and how much of the Aphrodite gas field in the eastern Mediterranean falls in\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":566420,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/more-details-on-that-eur-1-7-bn-french-financing-agreement-signed-earlier-this-week\/","url_meta":{"origin":630551,"position":2},"title":"More details on that EUR 1.7 bn French financing agreement signed earlier this week","author":"enterpriseam admin","date":"17 June 2021","format":false,"excerpt":"We have a more detailed breakdown on some of the funding agreements to come out of French finance minister Bruno Le Maire\u2019s visit to Cairo this week. The International Cooperation Ministry had signed EUR 1.7 bn in financing agreements with French agencies and entities this week, according to a cabinet\u2026","rel":"","context":"In "SPEED ROUND: DEVELOPMENT FINANCE"","block_context":{"text":"SPEED ROUND: DEVELOPMENT FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/529.jpg?fit=%2C&ssl=1&resize=350%2C200","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":630551,"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":597491,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/29\/egypt-israel-considering-new-lng-facility-in-sinai\/","url_meta":{"origin":630551,"position":4},"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":589924,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/eib-earmarks-eur-4-bn-for-local-development-projects-including-nwfe-al-mashat\/","url_meta":{"origin":630551,"position":5},"title":"EIB earmarks EUR 4 bn for local development projects including NWFE -Al Mashat","author":"enterpriseam admin","date":"11 July 2023","format":false,"excerpt":"Central Bank Governor Hassan Abdalla praised the EIB\u2019s \u201cinvaluable\u201d support","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/391.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\/630551","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=630551"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630551\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630544"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630551"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630551"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}