News

TAQA Gas and Abu Soma Touristic Development Inked an Agreement to Establish a

Natural Gas Distribution Network for Somabay in The Red Sea

 

Cairo - February, 2024: Aligning with the state's vision to reducing carbon emissions and decreasing the reliance on fossil fuels in touristic zones, Abu Soma Touristic Development has entered into a partnership with TAQA Gas, a subsidiary of TAQA Arabia, the full-service energy and utility distribution market leader in Egypt. Per the terms of this agreement, the latter company will be responsible for providing natural gas to Somabay resort in the Red Sea governorate.

 

The signing ceremony was attended by Deema Abu Ghazala, Country Manager Egypt - Olayan Financing Company, Eng. Ibrahim El-Missiri, CEO of the company, Ayman Belal, General Manager at Egyptian Investment Company, Mrs. Pakinam Kafafi, CEO of TAQA Arabia, Hala Abu Bakr, Chairman of TAQA Gas, and Engineer Tarek El-Hawari, Managing Director of TAQA Gas.

 

Mrs. Kafafi said: "The signing of this agreement with Abu Soma Tourism Development signifies the ongoing success of a series of fruitful partnerships between the two companies.” She conveyed her aspirations to further enhance collaboration with Somabay to develop the resort in the most optimal ways, “all within the framework of our collective endeavors to promote environmental sustainability and sustainable development.”

 

Mr. El-Missiri noted that, “At Abu Soma Touristic Development, we take great pride in signing this new agreement with TAQA Gas, a subsidiary of TAQA Arabia. With this agreement, we proudly become the first integrated tourist resort in Egypt to fully transition to the use of natural gas. The alignment of this agreement with our company's vision and strategy underscores our dedication to responsible and eco-friendly practices. Somabay always aims to develop its projects in a way that conforms with the highest environmental, sustainability, and clean energy standards. We are proud to have this agreement contribute to achieving this objective, as we look forward to a promising future for our project in collaboration with TAQA Arabia, working towards goals that align with the directives of the Egyptian government in this aspect.”

 

Engineer El-Hawari stated that, “TAQA Gas places significant emphasis on supporting the country's strategy in the natural gas sector through increased investments and expansion plans, coupled with ongoing advancements in cutting-edge technologies and comprehensive solutions. Our aim is to maximize the benefits derived from natural gas resources and contribute effectively to the advancement of the Egyptian economy. This agreement is a culmination of these efforts, representing a crucial step towards enhancing development in the energy distribution sector.”

 

TAQA Arabia and Abu Soma Touristic Development collaborated in 2022 on a 5 MW solar energy station at Somabay resort. Additionally, the first seawater desalination plant using solar energy was developed to provide the tourist resort with potable water.