Egypt pushes its energy hub ambitions in the UAE: Egypt’s Oil Minister Tarek El Molla highlighted moves to turn Egypt into a natural gas import and re-export hub as regional energy ministers met at the Adipec expo in Abu Dhabi, according to a cabinet statement. Egypt is looking to cooperate with the US, the EU, and regional powers to become a major player in the global natgas market, El Molla said, pointing to the work of the East Mediterranean Gas Forum and a recent pact to import and process Israeli gas for re-export to Europe. El Molla also called on international financial institutions to offer concessional financing for gas research and exploration in the region, especially in the eastern Mediterranean.

Mubadala Energy incoming: The UAE’s Mubadala Energy (formerly known as Mubadala Petroleum) will set up a regional HQ in Egypt and wants to invest in the country’s LNG and renewables sectors, CEO Mansoor Al Hamed said, according to a statement from Egypt’s cabinet. Al Hamed’s comments came during a meeting with El Molla on the sidelines of the Adipec conference.

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Egypt’s Suez Cement is investing USD 25 mn in the waste heat recovery facility at its Helwan plant, Al Mal reports. The plant will use excess heat from production lines to generate 20 MW of power, replacing 30% of the plant’s electricity needs.

Intro Power is pouring more into Egypt’s renewables sector: Intro Group subsidiary Intro Power and Utilities’ renewables investments in Egypt will reach USD 80 mn by the end of the year CEO Hani Helali reportedly told Al Mal. The company is currently in negotiations with three unspecified banks to secure a USD 12 mn loan to cover some of its investment costs, Helali is quoted as saying.