Egypt’s energy hub plans might get a shot in the arm: Energy giants BPandAbu Dhabi National Oil Company (Adnoc) have submitted a USD 2 bn non-binding offer to acquire 50% of Israel’s NewMed Energy, NewMed said in a disclosure (pdf) to the Tel Aviv stock exchange. The transaction would make NewMed a 50-50 partnership between the consortium and Israel’s Delek Group. NewMed CEO Yossi Abu told Reuters the transaction is “a sign of confidence in the East Med becoming a major supplier of gas to Europe.”

Background: Egypt aims to increase LNG exports by 40% by 2025, and already has an agreement in place with Israel and the EU to boost exports. NewMed plans to increase production from Leviathan by 75%, with some of the production earmarked for Egypt's LNG plants.

One development could hinder Egypt’s ambitions: NewMed also has plans to build a floating LNG terminal that would allow direct export to the EU to bypass Egypt’s processing plants.

Businesses can soon pay customs duties and VAT on Bahrain’s Informationand eGovernment Authority app, AlTajir, next month, Alayam quotes Zakaria Al Khaja, deputy CEO at the country’s Information and Electronic Government Authority, as saying. The features will be added to the app, which provides e-services to businesses. Since its launch in November, some 9k users have downloaded the app, most of whom are merchants, businesses, and entrepreneurs, Al Khaja told Alayam.

ALSO WORTH NOTING-

  • UAE vessel operator and oil supplier Gulf Marine Services (GMS) was awarded two new contracts for one of its vessels in the GCC, with the first contract commencing at the end of 1Q 2023, and the second at the start of 3Q 2022, spanning a cumulative period of 272 days. (Press release)
  • Bahrain's Gulf Air has launched its newest destination to Goa in India, from Bahrain International Airport, helping strengthen “tourism, business, and trade exchange” between the two countries. (Press release)
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