TotalEnergies Keen To Supply Gas from Cyprus to Egypt
- Business Companies Oil & Gas Regional
Global Business Magazine- 4 minutes read
French energy company TotalEnergies is keen to supply gas from its fields in Cyprus to Egypt for liquefaction and re-export as LNG as a first and the best logistical standpoint or to be fed directly into the grid, the Egyptian Ministry for Oil said.
The company is also evaluating investment offerings included in the government’s new and gas exploration tender that is currently being prepared, the ministry said.
TotalEnergies operates offshore Block 11 (50%, operator), Block 7 (50%, operator), Block 2 (20%), Block 3 (30%), 8 (40%) and Block 9 (20%).including Block 6, and holds interests in several others in Cyprus.
The French oil company has proposed natural gas pipeline could run from the Aphrodite offshore gas field in Cyprus to the Damietta Segas LNG Terminal in Egypt. The plan is to supply natural gas from the Aphrodite field to Cyprus’s domestic market, and to export natural gas to other markets, including Egypt and the global LNG market.
During his meeting with a delegation of Total Energies, Egypt’s Minister for Oil Karim Badawi and the officials of TotalEnergies discussed the possibility of linking the French company’s production from the Cypriot fields with Egyptian facilities as the first and preferred choice for the company for what Egypt enjoys a prominent role in the region as a regional centre for trade and gas and oil.
The TotalEnergies delegation included Thomas Stegauss, CEO of Total Marketing and President of Total Egypt, and Pascal Brion, CEO of Total Research and Exploration.
Importance of Latest Technologies
Karim Badawi also emphasised the importance of the role of modern technologies in opening new horizons for research, exploration and production through fruitful strategic partnerships and exchange of experiences, technical and technological capabilities.
He said that realising the goals and benefits of all parties involved in these activities and such partnerships contribute to the implementation of the plan.
The French company’s officials confirmed that the partnership between TotalEnergies and the UAE’s ADNOC in Egypt was aiming to expand the production, distribution and export of lubricants and petroleum products in Egypt and the African continent, considering Egypt a gateway to Africa.
They also pointed out the company’s desire to also expand its activity in marketing and supplying jet fuel, and pointed out that TotalEnergies has a technical centre in Egypt for their transport vehicle services as well as a driver training centre, and was planning to open a new centre for their operations in the region.
They said that they were currently assessing the attractive investment opportunities available in the new tender announced by Egypt recently and identifying the best areas to present its offers.
It may be recalled that Karim Badawi held a meeting with his Cypriot counterpart Giogos Papanastasiou last week discussed about establishing an energy corridor connecting the two countries that would carry natural gas and renewable energy to send Cypriot natural gas to Egypt to be liquified and exported as LNG to global markets.
