Strategic Projects

 
Egyptian LNG Project in Idku 
 

 

The project is a two-train LNG facility on the Mediterranean Coast with a capacity of 10 bcm /year to export the Egyptian LNG to France, Europe and USA. This project received Best Funding Award of the year for 2003, organized by Euromoney.
Since future expansions must be considered when establishing LNG projects the site is designed to accommodate up to six liquefaction trains. A legal model has been devised to allow sufficient flexibility for this expansion. This model includes establishing an entity of four companies:

• The Egyptian Liquefied Natural Gas Company:
It owns the site, the utilities and the common facilities.

• The Egyptian Operating Company for Natural Gas Liquefaction Projects

• El Behera Natural Gas Liquefaction Company:

It owns the liquefaction train -1 with a capacity of 3.6 million tons per year. Exports from train-1 started on 29th May 2005, six months earlier than the contractual date. Till December 2009, 57 cargos were exported. The investment cost is about 1120 million dollars.
It is worth mentioning that an agreement has been signed to export the entire output of train-1 to Gaz de France and it has been agreed to pass on 30% of these cargos to French and USA markets to maximize the return.

Shareholders:

The Egyptian Gas Holding Co                                    12%
The Egyptian General Petroleum Corporation     12%
British Gas                                                                       35.5%
PETRONAS                                                                       35.5%
Gaz de France                                                                  5%

 

• Idku Natural Gas Liquefaction Company

It owns the liquefaction train-2 with a capacity of 3.6 million tons of LNG per year.  The investment cost is about 965 million dollars. The train was delivered in September 2005 instead of July 2006(about 9 months ahead of schedule).The first cargo of LNG was exported on 15th September 2005 instead of April 1st. The investment cost of train-1 and train-2 is about 1.9 milliard dollars.


Sale and Purchase Agreement of LNG was signed on 24th September 2003 with British Gas to reach the Italian and USA markets. The company is co-owned by:

The Egyptian Gas Holding Co                                           12%
The Egyptian General Petroleum Corporation            12%
British Gas                                                                             38%
PETRONAS                                                                             38%

 

 

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