Shell, through its subsidiary BG International Limited, has confirmed a final investment decision (FID) to advance the development of the Mina West gas field, located in Mediterranean Sea waters off the Egyptian coast. This move consolidates the firm’s strategy to strengthen its integrated gas portfolio in key regions.
Connection to existing infrastructure
Discovered in October 2023, Mina West will be developed through a subsea subsea connection to the West Delta Deep Marine (WDDM) facilities. This integration will leverage the operational infrastructure already available, optimizing production time and costs.
[post_relacionado]Shell, which holds a 60% interest in the project, will operate alongside Kufpec Egypt Limited (40%), backed by the Egyptian Natural Gas Holding Company (EGAS). This partnership underscores the collaborative approach between international players and the Egyptian government on energy issues.
Impact of Mina West on energy security
Production from Mina West is aimed at supplying the Egyptian domestic market, in response to the need to strengthen domestic gas supply in Egypt. domestic gas supply and support and support the national energy transition. Shell estimates that the development will contribute to a 1% annual increase in its combined global gas production by 2030.
According to Shell, the Mina West project will achieve an internal rate of return above the threshold required for its integrated gas segment. This makes it a bet aligned with its plan to generate greater value with lower emissions, consolidating its presence in the Eastern Mediterranean as a relevant energy player.
Egypt as a regional energy hub
Accelerating the maturation of this discovery is part of Egypt’s vision to position itself as a regional energy hub. Shell’s commitment to this goal reflects a drive towards greater cooperation and security of supply in the Mediterranean.
Dalia Elgabry, country president of Shell Egypt, stated that this investment represents an important step in consolidating its gas leadership and tangibly supporting local energy supply.
Follow us on social networks and don’t miss any of our publications!
YouTube LinkedIn Facebook Instagram X (Twitter) TikTok
Source: Shell
Photo: Shutterstock