Japan's Marubeni might construct coal power plant in Egypt

03/03/2016 00:42 Coal

news

Japan's Marubeni Corp and Egypt's El Sewedy Electric have settled with Egypt's state-run power utility to conduct a feasibility study into the building of a coal-fired electricity plant in Egypt.

The move comes as part of the Japanese trading company's aim to increase its electricity infrastructure business globally and follows its statement on Tuesday to construct a 400 megawatt gas-based combined cycle power station in Bangladesh. Earlier this week, Japanese Prime Minister Shinzo Abe declared after meeting with Egyptian President Abdel Fattah al-Sisi in Tokyo that Japanese firms were likely to participate in Egyptian projects valued at approximately 2 trillion yen ($17.5 billion) in the power and other sectors. Under the memorandum of understanding inked on Wednesday, Marubeni and Egyptian electric equipment producer El Sewedy will lead a feasibility analysis into constructing an ultra-supercritical coal-fired power plant for the state-run Egyptian Electricity Holding Company in the West Mattrouh region, 450 km northwest of Cairo. According to the Nikkei business daily on Tuesday, Marubeni could aid construct a 4 gigawatt (GW) coal-fired power station, which might cost over 400 billion yen ($3.50 billion). To meet increasing electricity demand and diversify energy resources, Egypt has made known about plans to install around 12.5 GW of coal-fired power stations by 2022, as stated by Marubeni. Marubeni has obtained engineering, procurement and construction agreements for more than 100 GW of power plant projects worldwide, of which coal-fired power plants represent 40 GW.

Daily (01.04.2020): WTI crude rebounded by about 2% on Tuesday, but outlook remains gloomy

01/04/2020 10:58:00

Oil futures evolved differently on Tuesday, with Brent crude edging lower at $22.74 a barrel, but showed some signs of improvement in early trading after U.S. President Donald Trump and its Russian counterpart Vladimir Putin agreed to talks on stabilizing energy markets. Meanwhile, U.S. WTI crude rose by 1.9% to settle at 20.48 a barrel.

<READ MORE

Turkey's Energy Exchange hits record in spot gas trade

01/04/2020 10:53:00

Turkey's Energy Exchange Istanbul (EXIST) trade volume in spot natural gas market hit Monday a record high for 2020, EXIST data showed on Tuesday.

READ MORE

Covid-19 crash to speed green shift for oil firms – analysts

01/04/2020 10:50:00

The coronavirus outbreak and accompanying oil price crash – which have seen levels slump to near two-decade lows this week – will hasten a green transition among oil and gas majors, analysts told Montel.

READ MORE