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Eni to Implement Renewable Energy Projects in Egypt

Source: www.gulfoilandgas.com 9/29/2016, Location: Egypt

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Eni and the Egyptian Authorities have agreed on a common strategy to implement a series of renewable energy projects in order to promote the development of a more sustainable energy mix in Egypt.

The implementation of renewable energy projects in the country will allow for a reduction in the use of natural gas in electricity generation. The gas made available through these projects could be used to expand the utilization of CNG (Compressed Natural Gas) as fuel in the automotive sector, in alternative to diesel or gasoline, thus generating a low-carbon cycle based on a gas-renewable energy mix.

The first project, a 50 MWp Photovoltaic Plant in Sinai, near Abu Rudeis Facilities, will be implemented with a fast track schedule through Petrobel, an equal joint venture between IEOC and the state company Egyptian General Petroleum Corporation (EGPC). The plant will be sanctioned next month and completed by December 2017.

With this initiative, the Egyptian authorities have confirmed their strong commitment towards the environment, based on the double positive effect of reducing the emission for power generation and utilizing a green fuel in the auto transportation system.

This partnership is also in line with Eni’s vision for a low-carbon future, based on the promotion of renewable energy as well as on the reduction of CO2 emissions by maximizing the utilization of gas, the cleanest fossil fuel, as the prime source for electricity generation and the automotive system.

Eni operates in Egypt in all the gas sectors, from production to utilization, including export facilities. The new positioning in the renewable sector will allow the company to maximize the gas value chain in the country.

Eni has been present in Egypt since 1954 where it operates through IEOC Production BV. The present equity production in the country is about 210 thousand barrels of oil equivalent per day.

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