Sign in
TRADE-
#1- Algeria to study green hydrogen production for export to Europe: Algeria’s state-owned oil company Sonatrach inked an MoU with Algeria’s Songelgaz, Germany’s VNG, Italy’s SNAM and Seacorridor, and Austria’s Verbund Green Hydrogen to conduct a joint feasibility study on the production of green hydrogen and its derivatives in Algeria for export to Europe, according to a statement.
It doesn’t stop there: Sonatrach has also inked an MoU with Spanish SAF firm Cepsa to conduct another joint feasibility study on green hydrogen production in Algeria, according to a statement. The study again aims to assess the feasibility of establishing a joint project for the production of green hydrogen for export to European markets.
#2- EGAS to set up a JV for gas exports in Greece: State gas firm EGAS signed a partnership agreement with Greek infrastructure investment company Copelouzos Group to develop a JV headquartered in Greece focused on the trade, transport, supply, and regasification of natural gas in Eastern European countries and Greece, according to a statement. The agreement follows President Abdel Fattah El Sisi’s meeting with the chairman of Copelouzos Group, which saw the two discuss supplying natural gas to Eastern Europe.
DEBT WATCH-
Exim + DL Hudson ink USD 50 mn credit facility agreement: KSA’s Export-Import Bank (Saudi EXIM Bank) has inked a USD 50 mn credit facility agreement with London-based global trading house DL Hudson Limited to facilitate non-oil Saudi exports by connecting local exporters with global buyers in more than 22 markets around the world, Asharq Business reports. Under the agreement, Exim — through its International Buyer Finance Product — will finance DL Hudson to purchase Saudi products and distribute them across various global markets.
AVIATION-
Fly Oya and PTDI have signed aviation agreements at the Expo Indonesia 2024 conference in Jakarta, according to a statement. Libya’s Fly Oya inked a letter of intent to lease four light aircrafts from Indonesian Aerospace firm PTDI, with an option to purchase, intended for domestic flights and oilfield services, Libya Observer reports, citing a statement from Ola Quality and Compliance Director Alaa Eldeen Deekna. Fly Oya also inked an MoU with PTDI for the recruitment and training of pilots, aircraft technicians, and cabin crew.
DIGITALIZATION-
7X launches SME-focused logistics platform: 7X, formerly Emirates Post Group, launched Waslah, a logistics platform designed to streamline operations for SMEs, according to a press release. The platform includes features like optimized route planning, shipment consolidation, and smart tracking.
E-COMMERCE-
#1- Kuwait-based Agility subsidiary Shipa is rolling out a new e-commerce gateway in Jeddah in January 2025, Mubasher reports citing a statement by Agility. The new gateway will complement existing facilities in Riyadh and Dammam and reduce delivery times for shipments in the Western Region by 12 to 24 hours, while also boosting capacity during peak periods and curbing emissions.
#2- Shipa to launch new e-commerce gateway in Jeddah: Shipa Freight Solutions, a subsidiary of Kuwaiti logistics company Agility, is launching a new e-commerce freight shipping gateway in Jeddah, Saudi Arabia in January 2025 Mubasher reports. The new gateway, an addition to already existing ones in Dammam and Riyadh, should help reduce delivery times by 12 to 24 hours, provide greater capacity, and decrease emissions from deliveries on the Red Sea and the country’s western region.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Fly Dubai + Jazeera + Air Asia to operate flights at Nepal’s Gautam Buddha: The UAE’s Fly Dubai, Kuwait’s Jazeera, and Malaysia’s Air Asia airlines will launch flights at Nepal’s Gautam Buddha International Airport in Bhairahawa. Air Asia will begin direct flights on 2 October, Jazeera Airways plans to resume three weekly flights on 28 October, and Fly Dubai will launch daily flights starting 9 November 2024. (Khabarhub)
- Etihad Rail + Borouge boost cargo transfers to Khalifa Port: Abu Dhabi-based petrochemicals company has transported some 700k tons of products during the first year of its agreement with Etihad Rail, with over 36k containers transported since September 2023 from Ruwais Industrial City to Khalifa Port. (Statement)
- AviLease expands its fleet: Saudi Arabian PIF-owned aviation leasing company AviLease has acquired a Boeing 787-9 from US-based Babcock & Brown Aircraft Management. (SPA)
- EGAS + Copelouzos to launch JV: The Egyptian Natural Gas Holding Company (EGAS) has inked a shareholder’s agreement to establish a JV with Greek energy supplier Copelouzos Group for trading, transporting, supplying, and regasifying gas in Eastern European countries and Greece. (Al Mal)
