Petroleum Africa
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Tuesday, September 22, 2015
In an effort to halt international arbitration Egypt’s Minister of Petroleum, Tarek El Molla, Spanish firm Fenosa, and the UK’s BG Group are continuing talks. Both international firms launched arbitration against Egypt due to the suspension of the gas supplies to their respective LNG plants for export.
The two companies are also insisting that the Egyptian government allow them to import natural gas from Israel as feedstock.
While speaking to the Daily News Egypt, El Molla refused to discuss whether the two companies will be allowed to import Israeli gas, or to have a share of the recently discovered Shorouk gas field. El Molla said: “Both companies that you are talking about will be part of the solution of the energy shortage crisis; all the scenarios are on the table.”
El Molla revealed that the Ministry has completed the technical evaluation of the second tender to import gas. However, he refused to name these offers, saying “the financial evaluation is very soon.”
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