Have you ever thought about the importance of natural gas to Egypt? Is it just a power source or is the issue bigger than that? How does Egypt ensure the continuity of natural gas supplies amid increasing demand?
At the beginning, we must know that natural gas is not only an energy source. It affects our daily lives directly in many aspects, such as the factories that are operating and producing, as well as fertilizer companies and others who rely primarily on gas.. and the government is very interested in ensuring the continuity of gas supplies. Naturally, a new agreement was signed with the American company “New Fortress” to rent a floating gasification unit.
How will this agreement affect us? What is its economic importance to Egypt in the coming period?
In a huge strategic step, Egypt signed an agreement with the American company “New Fortress” to rent a floating gasification unit. This unit will be the second in the Egyptian market, and its main goal is to receive and store liquefied natural gas and convert it to a gaseous state so that it goes directly to the national network for natural gases. This is the idea. It is not new, but at a time when we are facing a significant increase in local demand, this solution is considered a major step to secure supplies and increase the sector’s ability to meet our needs.
The new unit will have a storage capacity of 160 thousand cubic meters of liquefied natural gas. Not only that, it has a gasification capacity of up to 750 million cubic feet per day. In short, it will help ensure the flow of gas in huge quantities to various economic sectors, especially during the summer peak times, which increases. There is a demand for energy
This gasification unit will be located on the pier of the “Sumed” port in Ain Sokhna, and operation is supposed to begin in the second half of 2025. This means that the infrastructure of the natural gas sector in Egypt will develop greatly, and this will contribute to continuously improving the sustainability of supplies.
Can someone ask and say what is the economic benefit of this agreement?
There are many benefits, the most important of which is that this improves Egypt’s ability to secure gas supplies during periods of peak consumption and will contribute to the stability of electricity supplies, which directly affects our daily lives and sectors such as industry. This agreement is also part of the Egyptian state’s strategy to increase reliance on renewable energy and achieve The balance between different energy sources means that Egypt is not only achieving energy stability, but it is also striving for a more sustainable future
Keep in mind, according to the terms of the agreement, Newfortress is not only a technical partner, but also an important economic partner. This company is one of the world’s leading companies in liquefied natural gas technologies, and with its reputation for providing reliable solutions at competitive prices, it will help Egypt obtain modern technology and cost-effective services. less
In short, this agreement is not just a commercial deal, but a strategic step that will contribute to ensuring the stability of natural gas supplies in Egypt and help meet our needs in the near future.
