These decisions, outlined in the Official Gazette, aim to create more stability and predictability for both electricity generation and industrial consumption of natural gas.
The agreement aims to address the urgent gas supply needs of Jordan, especially as the country continues to develop its LNG infrastructure, and will help mitigate costs for both countries.
The agreement stipulates that Chevron, the operator, will hold a 40% interest whereas Woodside will acquire 27% and Egypt’s state company, Tharwa Petroleum, will acquire the remaining 10% interest.
In his speech at the start of the conference today, he highlighted that Egypt is considered a regional hub in this sector, with gas refining capacities of approximately 40 million tons
The media center of the Cabinet clarified that the current prices for natural gas, which have been in place since September, will remain unchanged
