TAQA Arabia acquires Rosetta Energy's LNG arm to unlock LNG Market Growth in Egypt and Africa
TAQA Arabia, the full-service utilities and energy distribution market leader in Egypt, announced a new partnership with Rosetta to expands it business portfolio in Egypt, Africa and the Middle East. Rosetta Energy is an expert in developing virtual LNG pipelines to distribute energy to industrial, commercial, and residential off grid clients. Rosetta strongly believes in utilizing LNG as a transition fuel, displacing the use of higher GHG-emitting fuels, whilst developing zero-carbon solutions on a pathway to decarbonization. This commercially viable technology expands the use of natural gas for a wide range of customers looking to replace their Diesel/Fuel oil energy needs with cleaner and less emitting natural gas.
Through this partnership, Rosetta will act as TAQA’s investment, development and operating arm for LNG and Energy Transition opportunities in Africa.
“We are very excited to be partnering with TAQA Arabia which would allow Rosetta to accelerate its energy transition ambitions in emerging markets. Such partnership brings together TAQA’s strong gas distribution capabilities, market access and established track-record along with Rosetta’s hands-on LNG expertise and agile approach. We believe gas has a strong role to play in helping developing countries achieve energy security and prosperity whilst being environmentally friendly and cost competitive”- Karim Shaaban CEO Rosetta.
“The new partnership supports TAQA’s strategy of diversifying the scope of its energy transmission and distribution services to best cater to the growing needs of its clients and customers. This also aligns with TAQA’s strategy and the Egyptian government’s ambitious plan to increase and expand the use of Natural gas nationwide. The new step shall enhance TAQA’s business expansion not only in the region, but also in sub-Saharan African region where we are greatly expanding our scope of work replicating our success stories in Egypt throughout the continent.” - Pakinam Kafafi, CEO TAQA Arabia.
TAQA Arabia, a Qalaa Holdings Company, is the leader in energy distribution across Egypt, serving more than 1.7 million customers with their daily need of Energy. TAQA Arabia invests, installs, constructs, and operates energy infrastructure including gas transmission and distribution, conventional and renewable power generation and distribution, marketing oil products and lubricants throughout several retail fuel stations across the country as well as providing water desalination and treatment services for a wide range of clients. Throughout its subsidiary “Master gas” TAQA Arabia operates extensive number of CNG stations and conversion centers across the country. Making TAQA Arabia a One Stop Shop for all energy and utility services in Egypt and the region.
