TAQA Arabia, Egypt's Ministry of Petroleum sign natural gas deal

14/11/2013 14:37 AST

As part of it's ongoing effort to grow the energy sector in Egypt and meet increasing domestic demand, Citadel Capital's energy platform, TAQA Arabia has singed a contract with the Egyptian Natural Gas Holding Company (EGAS) to connect 66,000 new customers with natural gas.

Citadel Capital has reported that its energy distribution platform TAQA Arabia has entered into an agreement with the Egyptian Ministry of Petroleum and Natural Resources to connect 66,000 homes with natural gas in areas where the infrastructure is already in place. The contract, which was signed with EGAS, comes as part of a national effort to the accelerate the development of Egypt's energy sector and meet increasing national demand for energy.

"We view this new agreement as the crowning achievement of our energy distribution work in Egypt, and an indicator that our domestic investments have proven fruitful," said Pakinam Kafafi, TAQA Arabia's Chief Executive Officer. "In the coming period we plan to enhance our existing operations and expand services into a number of Egyptian governorates in the Nile Delta and Upper Egypt to ensure that all socioeconomic groups in the country have access to natural gas," she added.

TAQA Arabia is the largest private sector energy distribution company in Egypt with over 16 years of experience, investing and operating energy infrastructure including gas transmission and distribution through its largest operational arm, TAQA Gas. In keeping with TAQA Arabia's belief in the importance of developing its most valuable asset, human capital, the company has appointed Tarek El-Hawary as the new Managing Director of TAQA Gas.

El-Hawary is a 28-year veteran of the energy and natural gas sector, with invaluable engineering experience that includes building natural gas distribution networks in the Greater Cairo area for Egypt Gas and developing gas distribution infrastructure in Cairo, Alexandria, Port Said, Suez and other governorates.

CPI Financial