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Tuesday, 17 January 2023

Elsewedy Electric to build 300 MW solar station in Saudi Arabia + Eni’s Descalzi sits down with El Sisi

Elsewedy Electric is upping its solar energy game: Elsewedy Electric for Transmission and Distribution, a subsidiary of Elsewedy Electric, signed a USD 176.1 mn turnkey contract to build a 300-MW solar power station for Saudi Arabia’s Al Ghazala Energy, according to a statement (pdf) by the company. Elsewedy “will mainly focus on the design, supply and installation of the entire project,” which will be implemented within 16.5 months, the statement said. Elsewedy will operate and maintain the facility for 29 months after its completion.

Elsewedy has been stepping up its involvement in Saudi lately: Yesterday’s announcement comes a few months after the company approved in November setting up one or more new companies in Saudi Arabia. The companies’ potential activities include the management of holding companies’ subsidiaries, investments, real estate ownership, lending, and leasing.

ENI BOSS MEETS EL SISI-

Eni CEO Claudio Descalzi was in Cairo for talks with President Abdel Fattah El Sisi yesterday, a day after the company announced a major gas discovery in the Eastern Mediterranean, according to separate statements by Eni and Ittihadiya. The two discussed the company’s current activities and future plans to drill for gas in Egypt, including its role in the country’s energy transition. Eni described its recent exploration efforts as “positive” and said that there is potential for it to increase exports “quickly.”

ICYMI- Chevron and Eni announced a “significant” gas discovery in the Mediterranean offshore Nargis block earlier this week. Neither party provided an estimate for how much gas is in place though unconfirmed reports last month suggested that it could hold 3.5 tn cubic feet of gas.

AND- Eni + EGAS sign gas flaring MoI: The Italian company will work with state gas company EGAS to identify areas to reduce CO2 emissions in the oil and gas sector under a memorandum of intent signed yesterday. The two sides will “collaborate on emission reduction technologies, including gas flaring reduction and gas valorization,” Eni said in the statement. The Oil Ministry was also out with a statement following the signing.

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