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Shell to turn Egypt into regional hub for natural gas

Shell to turn Egypt into regional hub for natural gas
The Ministry of Petroleum aims to turn Egypt into a regional centre for trading oil and gas

Cairo – Mubasher: Royal Dutch Shell company is in talks to buy natural gas from Israel’s Leviathan field and Cyprus’ Aphrodite field, in order to pump both fields’ output into the Idku LNG plant in Egypt, according to Bloomberg, which cited anonymous sources.

“Talks are at an early stage and some of Aphrodite’s gas could be sold locally [but] combining output from the fields […] could potentially improve the economics of the projects,” Bloomberg highlighted.

The news outlet noteds that Israeli and Cypriot gas discoveries, alongside with Zohr field in Egypt and gas reserves in Lebanon, could help create a centre for gas production, which could feed into Europe.

Leviathan’s gas could be directly pumped into Egypt or run through Jordan, the news agency added.

Egypt’s minister of petroleum and mineral resources Tarek El-Molla had previously said that the ministry aims to turn Egypt into a regional centre for trading oil and gas, according to the petroleum sector’s strategy by 2020/2021.