Khaberni - The Minister of Energy and Mineral Resources, Saleh al-Kharabsheh, confirmed on Sunday that there is no increase in electricity prices or fuel price difference item today, indicating that price monitoring in the global markets continues, along with future levels of these prices.
Al-Kharabsheh added in his speech to "Al-Mamlaka" that the work on the Aqaba shore regasification unit will be completed in the first quarter of next year.
In terms of energy supply security and enhancing strategic reserves amidst the current regional crisis, the cabinet decided to exempt the imports of Jordanian Petroleum Refinery's heavy fuel oil sold to the National Electricity Company from all taxes and fees.
This decision aims to enable the company to enhance the strategic inventory and alleviate the burdens associated with that amid global price fluctuations due to current regional events.
The cabinet also decided to exempt the contract of the leased Floating Storage Unit (FSU), expected to arrive in the fourth quarter of this year, from all taxes, fees, and charges, throughout its docking period at the Sheikh Sabah port for liquefied natural gas in Aqaba.
This decision is part of the Energy and Mineral Resources Ministry's strategy to achieve energy supply security and diversify its sources, and to prepare an infrastructure for the sustainability of electricity work, especially under the current regional conditions.
The cabinet has instructed, in this regard, the Jordan Maritime Authority, Aqaba Special Economic Zone Authority, and Aqaba Development Corporation to take the necessary measures to facilitate obtaining all required permits for the operation of the ship at the port during its docking period.
In related context, the cabinet decided to approve the exemption of contracted shipments of liquefied natural gas from the National Electricity Company from all taxes and fees.
This comes with the direction to replace the previously leased shore regasification unit with a floating storage unit, at a lower cost, based on the lease-to-own principle for a duration of 10 years; this contributes to the sustainability of the energy and LNG infrastructure.
Simultaneously, work is continuing to build the permanent shore regasification unit in Aqaba; aiming to create a permanent infrastructure owned by the government, enabling it to import liquefied natural gas from global markets, which contributes to ensuring sustainable energy supply security from multiple sources.
This measure will enable the National Electricity Company to raise and sustain the strategic inventory of gas.
The council also decided to approve the Ministry of Energy and Mineral Resources to proceed with the necessary procedures to implement the combined cycle power generation station project, the Seventh Private Generation Project (IPP7), with the Union for Development wholly owned by the Union for Water and Electricity of UAE, and to approve the project-specific agreements in preparation for signing them.
This is part of the National Electricity Company’s expansion plan to face the expected rise in future electricity loads and provide it, through the construction of a power generation station with a capacity of 700 megawatts, using the latest technologies in the field of energy.
This is the first time such cooperation with the private sector is taking place, with the requirement of registering a public shareholding company owning 49% of the shares, allowing the Social Security Investment Fund to invest in this project as a partner given its guaranteed profitable projects.
This station is expected to contribute to the provision of the necessary electrical energy for the national carrier project, within the framework of complementarity and linkage between necessary strategic projects, and in the scope of implementing major projects.
