The Leading Ship, Yacht and Offshore Agency in Egypt Since 1983

The Leading Ship, Yacht and Offshore Agency in Egypt Since 1983

Kadmar Circular No. 52/2022 The deal of Egypt & Israel export of Natural Gas to Europe

Kadmar Circular No. 52/2022 The deal of Egypt & Israel export of Natural Gas to Europe

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Dear All,

In view of last week announcement regarding The deal between Egypt, Israel and Europe  Regarding export of Israeli natural gas to Europe via Egyptian liquefaction facilities.

The landmark memorandum of understanding, signed by the Israel and Egyptian energy ministers and representatives of the European Commission,

Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, and Mike Wirth, President of Chevron International, witnessed the signing of a memorandum of understanding between the Egyptian Natural Gas Holding Company (EGAS) and Chevron e-Med Midstream Ltd. International to cooperate in the activities of transporting, importing, liquefying and exporting East Mediterranean gas through Egypt.

The memorandum of understanding was signed by Dr. Magdy Galal, Chairman of the Board of Directors of the Egyptian Natural Gas Holding Company, and Jeff Ewing, Managing Director of Chevron’s Eastern Mediterranean Activities Sector, with the aim of developing the necessary infrastructure to enable the transportation of available gas from the Eastern Mediterranean region to Egypt.

According to the agreement, both companies share the same goals, as the two parties will evaluate the potential opportunities to transfer gas available in the eastern Mediterranean to Egypt to maximize its value by liquefying it to be re-exported and sold so that it is economically feasible for both parties, including conducting any necessary study for the production of low-carbon liquefied natural gas.

We do believe that this step will maximize the transport demand for natural, gas in the East Med.

As one of the major Agents network in the area is ready to serve the clients in this area of business

Please be guided accordingly.

Best Regards

Kadmar Shipping

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