Saturday, September 5, 2015

ENI’s giant discovery | in-cyprus.com (Cyprus Weekly)

ENI’s giant discovery

ENI has announced the discovery of a new, supergiant, gas field in the Mediterranean Sea offshore Egypt, confirmed also by Egypt’s petroleum ministry.
It is estimated that the field, in 1450m water depth over an area of 100 km2 at the Zohr Prospect in the Shorouk Block, may hold up to 30 tcf (about 850 bcm) of lean gas, making it the biggest offshore gas field discovery in the Mediterranean ever. It has the potential to become one of the world’s largest natural gas finds, given that ENI has identified that Zohr may have additional deeper hydrocarbon structures. ENI wholly owns the Shorouk licence.
To put it in context, Leviathan, the next biggest gas field in the Mediterranean, holds 22 tcf of gas. In addition, this single gas field has the potential to increase Egypt’s proven gas reserves by about 50%, given that these currently stand close to 60 tcf. When these quantities are confirmed Egypt will have more gas than Norway. Also, 30 tcf is equivalent to about 5.5 billion barrels of oil. This discovery will create renewed interest in exploration drilling offshore Egypt. As ENI’s CEO said “this is a historic discovery” and “Egypt has still great potential”.
Implications on Egypt
ENI will now embark on an appraisal drilling programme to confirm quantities accurately. Given current acute shortages of gas in Egypt the government will be pressing ENI to move into production as soon as possible. This could be as early as 2020 by utilising synergies with existing infrastructures. ENI has a ready-made market in Egypt and it is also 50% owner of the Damietta LNG plant, currently lying idle due to lack of gas. An additional incentive for ENI is that in July, Egypt increased the price of gas it will pay to ENI, for gas from new discoveries, to a minimum of $4 and a maximum $5.88 per mmBTU, from $2.65 now. ENI has already confirmed that it will start appraisal soon and will place this project on a fast development track.
Assuming that the gas production and exports are phased over a 30 year period, ENI could be producing an average of 30 bcm per year. These quantities are sufficient to cover the additional domestic gas needs of Egypt for many years to come, but also to provide gas to take up the full capacities of the two LNG plants at Damietta and Idku, about 17 bcm per year, with possible future expansions. This discovery has the potential to completely transform the energy industry in Egypt and give a much needed boost to its economy.
In hindsight, Egypt’s decision to limit LNG import deals to 3-5 year periods on the expectation that it will become self-sufficient in gas by 2020, looks prophetic. Egypt will benefit massively from this discovery, not only by not needing to import expensive LNG for its continuously rising energy demand, but also through much needed revenues from LNG exports.
Implications for Cyprus and Israel
This huge gas discovery is bound to have major implications for the much discussed potential gas export projects from Israel and Cyprus to Egypt. Given that these have not progressed, and there are still question marks for both, they may now not happen at all. Gas from Zohr is expected to be substantially cheaper than imported gas from either Israel or Cyprus, without the need for cross-EEZ border pipelines. This new discovery may be the final nail in the coffin for both projects.
With a solution of the Cyprus problem looking possible, both Israel should now consider other options, including potential exports to Turkey and Europe through a pipeline through Cyprus’ EEZ. And if the political situation between Israel and Turkey does not allow this, they should reconsider the option of an LNG plant in Cyprus. With the quantities of both Leviathan and Aphrodite gas to be exported and timing of such a project, i.e. LNG exports by 2022 at the earliest, it becomes viable. In any case, with Egypt, and regional markets, now possibly out of bounds, these may be the only two serious export options left for Israel and Cyprus.
The old oil industry adage that you should take your opportunities when they appear is proving to be right yet again. Opportunities in the oil and gas sector come and go fast. Take too long to react and they go away.

It is disappointing to note that with the option of exporting gas to Egypt now looking less likely, Cyprus does not have a Plan B for the development of Aphrodite, such as exports to Europe, through CNG, or FLNG.

All export options are detailed in Noble’s Development Plan. As a result, more time will be lost yet again going back to the drawing board to reconsider other options. And with dwindling options, time may not be on its side.
An additional setback for Cyprus is that, with the huge call on its resources to deal with such a discovery, and its hands full, there is a risk that ENI may decide not to proceed further with the exploration of Blocks 2, 3 and 9 in Cyprus once its commitments are completed, given the disappointing results so far. ENI is known to be looking into divesting some of its peripheral businesses. Its strategy is to concentrate on assets and mature hydrocarbon provinces.
East Med potential
However, as the Shorouk Block is bordering Cyprus’ Blocks 10 and 11, such a huge discovery reinforces the potential for the presence of significant gas quantities in the East Med and in Cyprus EEZ. But to discover these, Cyprus needs to go back to exploration drilling. With Total’s and ENI’s commitment to do so not assured, Cyprus needs to consider, and carefully prepare the ground and timing, to go for a new licensing round. This, however, may now become the task of a new federal government.

Source: http://in-cyprus.com/enis-giant-discovery/

Friday, September 4, 2015

Delek ‘committed to developing Aphrodite field’ | Cyprus Mail


Delek ‘committed to developing Aphrodite field’


Delek ‘committed to developing Aphrodite field’
By George Psyllides
Israel’s Delek Drilling is committed to developing the Aphrodite gas field, its CEO said on Friday, in line with its strategy of supplying the Cypriot and Egyptian markets with natural gas in the fastest and most efficient way.
“We already started the process of marketing the gas into those markets and we have long discussions with potential buyers for this gas and we are fully committed in developing the reservoir,” Delek Drilling CEO Yossi Abu said after a meeting with President Nicos Anastasiades.
Aphrodite, located in block 12 of Cyprus’ exclusive economic zone (EEZ), is licensed to a consortium made up of US-based Noble Energy, Delek, and Avner.
Last June, the consortium submitted plan on how to develop the reservoir. The government was expected to submit its comments on Friday.
“We and the government are working very closely together in order to do that as fast as possible and as efficient as possible” he noted.
Commenting on the recent discovery of a massive gas field off Egypt’s coast by Italian ENI, Abu said it was a positive development.

Last weekend, ENI announced that its gas discovery at “Zohr Prospect”, could hold a potential of 30 trillion cubic feet of gas, the largest gas discovery ever made in Egypt and in the Mediterranean Sea.
“We are seeing a very positive outcome of the discovery of ENI in Egypt,” Abu said, adding that this heightened the attention on Eastern Mediterranean gas and enhanced the potential for more oil and gas discoveries in the region.
Abu said there was also more potential for more discoveries of oil and gas off Cyprus’ shores.
“The discovery in Egypt brings us to a place that we assess the Egyptian market and the need for gas in this market,” he said. “We see more potential in the local market of Egypt for more demand for natural gas.”
The needs and the demand for natural gas in Egypt is around 60-70 bcm a year, and according to Abu, there was also a place for natural gas from the Cypriot discoveries
Asked about Delek’s interest in acquiring 19.9 per cent of Noble Energy’s shares in block 12, Abu said they were discussing the matter with the American company.

Noble holds 70 per cent of the shares in the consortium with Delek and Avner each holding a 15 per cent share.

Source: http://cyprus-mail.com/2015/09/04/delek-committed-to-developing-aphrodite-field/

ENI’s mammoth discovery and Egypt's change - NATURAL GAS EUROPE

September 04th, 2015

Securing foreign investments and establishing more attractive terms when it comes to its natural resources, have been the two items on the top of the new Egyptian government's agenda according to Credit Suisse. This allowed for an energy exploration deal to be signed between Egypt’s oil ministry and Italian energy giant, Eni SpA, back in June. This deal, worth $2 billion, followed a memorandum of understanding in March, and allowed Eni to explore in Sinai, the Gulf of Suez, the Mediterranean and areas in the Nile Delta. Eni is no stranger to Egypt; it has been operating there for over 60 years through its Egyptian subsidiary IEOC (International Egyptian Oil Company) which produces a daily output of around 200,000 barrels of oil.

CYPRUS: Oil, gas and diplomacy | Financial Mirror

CYPRUS: Oil, gas and diplomacy

04 September, 2015 | Financial Mirror
Egypt and Israel sent two new diplomats to Cyprus on Friday, just as the three neighbours are upping the ante in their energy, trade and security relations.


Cairo’s Ambassador Hussein Abdelkarim Tantawy Mubarak presented his credentials, a day after President Anastasiades and Abdel Fattah El Sisi had a telephone conversation to discuss energy cooperation, despite the recent discovery of an enormous offshore gasfield in Egyptian waters, the biggest in the eastern Mediterranean. 
Some had feared that Italian ENI’s discovery of 30 trillion cubic feet (tcf) at the Zohr field, which is in close proximity to the border of Cyprus’ offshore Block 11, currently licensed to French oil giant Total, would upset negotiations to sell Cyprus gas to Europe via BG’s plant in Egypt.

Egyptian officials were quick to reiterate their good relations with Cyprus and that the two countries would maintain negotiations for future gas sales, not expected before 2018 or 2020. 

The discovery within the Egyptian Exclusive Economic Zone (EEZ) also sent shivers down the backs of the Israelis, that had so far maintained the lead for the biggest discovery at the Leviathan gasfield, as the new supply could make future Israeli gas exports redundant as well. 

But Egypt does not want to burn its bridges with its neighbours, at least not within the political turmoil and Islamic extremism that has swept across the Middle East. On the other hand, no matter the magnitude of the discoveries, Egypt’s growing population and economy will continue to make it a mainly net buyer of natural gas for domestic use.

Cyprus Government Spokesman Nicos Christodoulides said that the Anastasiades-El Sisi conversation focused on the fact that the Zohr discovery wil probably raise the importance of the region’s gasfields. 

“It is our determination that we should develop cooperation at all levels.” 
Presenting his credentials, Egypt’s Ambassador Mubarak said that Cyprus can be a bridge between the peoples on the north and the south of the Mediterranean and praised the support the island expressed after the 2013 revolution.

President Anastasiades said “we are witnesses to a robust bilateral relationship without precedent, which can be enhanced even further. You arrive in Cyprus at an interesting time. 

“The realisation of the second Cyprus-Egypt-Greece Tripartite Summit Meeting, in Nicosia and the Declaration adopted at the level of the Heads of States, puts in practice the cooperation between our countries to achieve stability and prosperity in the region to the common benefit of our peoples.” 

“Shortly, we expect that the expansion of this cooperation will be achieved,” he said, adding his congratulations for the hugely important discovery of a gas field offshore Egypt which will certainly transform the energy sector and have a decisive impact on the economy for the benefit of the Egyptian people.

“Undoubtedly, the said gas field is yet another proof of the richness of the Mediterranean Sea in natural resources and has the potential of not only enhancing the existing cooperation between neighbouring countries in the hydrocarbon sector but also of creating new synergies between them for the benefit of their peoples and of the region as a whole.”

Presenting her credentials, Israel’s Ambassador Ravia-Zadok, a long-term director of the Middle East Desk at the Ministry of Foreign Affairs in Jerusalem said Cyprus’ unique location in the eastern Mediterranean, as well as its respected political leadership, may serve as a fertile ground to establishing a network of regional cooperation, in which Israel and Cyprus may play a leading role. 

“Under the Cypriot leadership, we can create an enhanced regional cooperation on security, energy security, tourism and economic development, serving as an accelerator for stability in our region. Challenges of terror and Islamic extremism make this regional cooperation more relevant than ever before.” 

In his response, President Anastasiades said that his visit to Israel and the follow-up visit of Prime Minister Netanyahu here in Nicosia, later in July, “reflect the special bond between our two countries. There are, of course, numerous other exchanges at different levels across the board and our officials consult frequently on a variety of issues.” 

“The discovery of vast reserves of hydrocarbons in the eastern Mediterranean has the potential to transform our region, unleashing economic development and prosperity, and promoting peace and stability. Cyprus stands ready to fully cooperate with its neighbours to promote these goals. 

Spokesman Christodoulides said that Anastasiades also had a meeting with Yitzhak Tshuva, the Director of Delek Drilling, a joint venture partner in the Cyprus Aphrodite gasfield and Israel’s Leviathan, and submitted the company’s development plan regarding the gasfields, exports and sales. 

He said that Energy Minister Yiorgos Lakkotrypis will now respond to the Delek plans so that substantial talks can now begin for the future utilisation of Cyprus natural gas exports. 
Delek’s Yossi Abu told reporters that “we are committed to develop the Aphrodite Block with the same strategy that we have already submitted, basically to supply the Cyprus and Egyptian markets (with natural gas) in a quick an effective manner. We have already started the upstream process to these markets and we are in talks with potential buyuers of exported gas.”

Regarding noises from the opposition political parties, doubting the prospects from the gas fields in Cyprus waters and in the region, Christodoulides “the subject of energy if very important and calls for patience.” 

Earlier in the week he and Lakkotrypis had talked about “significant news” in the energy sector, at a time when French Total had failed to find satisfactory gas reserves within its Cyprus EEZ license, while ENI had delayed future prospecting. 

On Thursday, Lakkotrypis met with representatives of British Gas (BG), reportedly interested in obtaining gas from the Aphrodite prospect in Block 12, processing it at their LNG plant in Egypt and then re-exporting it to Europe. 

The minister also said that BG is in contact with the Block 12 partners (Noble Energy, Delek and Avner) as well as with the state-owned Cyprus Hydrocarbons Company (CHC). 
According to the Cyprus News Agency, the Block 12 consortium and CHC are in consultations with ten other organisations interested in the gas, including Union Fenosa, operators of the other LNG terminal in Egypt at Damietta. 

Over the last few days, since the announcement of the Zohr find, the minister has been in frequent communication with his Egyptian counterpart, Sherif Ismail. 

Both countries’ officials have stressed that the recent discovery does not negate Egyptian interest in Cypriot gas imports, although Ismail did indicate that the final decision rests with the oil and gas companies.

Source: http://www.financialmirror.com/news-details.php?nid=34445

Total to factor Egypt’s recent gas finding in new survey, Lakkotrypis says - CYPRUS MAIL



SEPTEMBER 4, 2015
Stelios Orphanides

Energy Minister Yiorgos Lakkotrypis said that Total S.A. will deliver in October the results of a geological and geophysical survey it carried out in block 11 of Cyprus’s exclusive economic zone which will take into account Egypt’s 30 trillion cubic feet natural gas discovery.

Following Egypt’s latest discovery, Total, which has the exploration and exploitation license for the block which is close to Zohr, “now knows exactly what they have to look for,” said Lakkotrypis, commenting in an interview to state radio CyBC.

Thursday, September 3, 2015

British Gas eyes Aphrodite | in-cyprus.com (Cyprus Weekly)

British Gas eyes Aphrodite

UK gas giant British Gas is in discussions with the Cyprus government to buy natural gas for its Idku plant in Egypt, energy minister George Lakkotrypis announced on Thursday.
The minister said that he met representatives from BG on Wednesday and Thursday in Cyprus.
BG is also in consultation with Noble, Delek and Avner, the consortium that owns the licence to Block 12 in which the Aphrodite field lies, as well as with the Cyprus Hydrocarbons Company (CHC).
The aim is to buy Cypriot natural gas from the Aphrodite field in offshore Block 12 for the Idku plant, in which BG has a 35.5% shareholding.
Despite the negative initial assessments about the impact of the massive gas find on Cyprus, the estimated 30 trillion cubic feet in the Zohr field actually opens up an opportunity for Aphrodite, the Cyprus Weekly has learned.
When Egypt did not have enough of its own gas, there was a possibility that gas from Cyprus would end up being used for domestic consumption, rather than being sold on international markets.
This created two risks. First, that it would be going to a less stable market with a poor record on payments. Second, that it could not compete on price with domestically produced Egyptian gas. 
If gas from Idku is sold on international markets and with a long-term contract, then these risks subside.
Nevertheless, Lakkotrypis was at pains not to pre-empt the outcome of the talks with BG, saying that the effort to sell natural gas to Egypt “is basically a question mark”.
The Energy Ministry will provide Noble with its comments the development plan submitted to the government on June 10.

Source: http://in-cyprus.com/british-gas-eyes-aphrodite/

NOBLE ENERGY PROVIDES STATEMENT ON REGULATORY FRAMEWORK IN ISRAEL | Noble Energy

September 3, 2015

NOBLE ENERGY PROVIDES STATEMENT ON REGULATORY FRAMEWORK IN ISRAEL

HoustonSept. 3, 2015 (GLOBE NEWSWIRE) -- Noble Energy, Inc. ("Noble Energy") (NYSE: NBL) continues to work diligently with the government ofIsrael to address matters necessary to facilitate the development of its world class discoveries at Tamar and Leviathan and ensure a stable investment climate. David L. Stover, Noble Energy's Chairman, President and CEO, commented:
"Under the leadership of the Prime Minister and the Minister of Energy and Water Resources, a regulatory framework meeting these objectives has been overwhelmingly approved by the Israeli cabinet and yesterday was presented to the Knesset.  It is imperative that the government of Israel follow through on this approved framework without further delay. Noble Energy remains fully prepared, and is well positioned, to take the actions necessary to protect the value of its assets."
"Regional demand supports the further development of our world class Tamar and Leviathan fields.  Noble Energy continues its ongoing discussions with natural gas customers throughout the region, and yesterday the government of Egypt publicly reiterated its support for the import of gas from Israelfor both domestic and LNG export purposes. We are confident that the quality of our Israel assets, extensive appraisal and planning efforts, and proven track record of project execution and operating performance position us well to supply natural gas to the substantially underserved regional market."
Noble Energy (NYSE: NBL) is a global independent oil and natural gas exploration and production company, with proved reserves of 1.7 billion barrels of oil equivalent at year-end 2014 (pro forma for the Rosetta acquisition). The company's diverse resource base includes core positions in four premier unconventional U.S. onshore plays - the DJ BasinEagle Ford ShaleDelaware Basin, and Marcellus Shale - and offshore in the U.S. Gulf of Mexico, Eastern Mediterranean and West Africa. Driven by its purpose, Energizing the World, Bettering People's Lives®, the company is committed to safely and responsibly providing energy to the world while positively impacting the lives of our stakeholders. 

Source: http://investors.nobleenergyinc.com/releasedetail.cfm?ReleaseID=930193

Wednesday, September 2, 2015

Το Κάιρο «ακυρώνει» την αγορά ΦΑ από την Κύπρο | Η ΚΑΘΗΜΕΡΙΝΗ

Ημερομηνία: 02.09.2015 | 09:51
Το Κάιρο «ακυρώνει» την αγορά ΦΑ από την Κύπρο
Επίσημη τοποθέτηση από το Υπουργείο Πετρελαίων της χώρας κάνει λόγο για επανεξέταση
Του Απόστολου Τομαρά
Νέα δεδομένα στην προοπτική συνεργασίας Κύπρου – Αιγύπτου στην πώληση ΦΑ από το Αφροδίτη.
ΑΠΟ ΤΗΝ «ΟΙΚΟΝΟΜΙΚΗ ΚΑΘΗΜΕΡΙΝΗ»
Οι επίσημες ανακοινώσεις της ιταλικής ENI, την περασμένη Κυριακή, για ανακάλυψη κοιτάσματος «γίγαντα» εντός της αιγυπτιακής ΑΟΖ διαφοροποιεί άρδην το ενεργειακό και γεωπολιτικό ισοζύγιο της Ανατολικής Μεσογείου με προεκτάσεις  που φθάνουν έως και την κυπριακή ΑΟΖ.

Ο εντοπισμός -κατ’ εκτίμηση-  30 τρις κυβικά πόδια Φυσικού Αερίου (ΦΑ) καθιστά την Αίγυπτο την χώρα της περιοχής με τις μεγαλύτερες ποσότητες ΦΑ. Το κοίτασμα με την ονομασία Zohr,  που βρίσκεται σε κοντινή απόσταση από τα τεμάχια 10 και 11 της κυπριακής ΑΟΖ, αναδεικνύεται ως το  μεγαλύτερο κοίτασμα που έχει ανακαλυφθεί στην Μεσόγειο.

Αν οι εκτιμήσεις για τις ποσότητες του αιγυπτιακού τεμαχίου με την ονομασία Shorouk «κλειδώσουν» από τις γεωτρήσεις που θα ακολουθήσουν, σε μια τέτοια περίπτωση Κύπρος αλλά και Ισραήλ θα απολέσουν μια αγορά, η οποία  μέχρι πρόσφατα δημιουργούσε θετικό εμπορικό πρόσημο για τις δυο χώρες, μιας και εμφανιζόταν ως υπ´ αριθμόν ένας αγοραστής απορρόφησης μεγάλων ποσοτήτων ΦΑ από τα κοιτάσματα του Ισραήλ, αλλά και το Αφροδίτη.

Με βάση τους πρώτους υπολογισμούς, η Αίγυπτος καθίσταται ενεργειακώς αυτάρκης, μιας και το κοίτασμα «γίγας» καλύπτει πλήρως τις  ανάγκες της εσωτερικής αγοράς της Αιγύπτου για πάνω από δυο δεκαετίες. Οι ετήσιες ανάγκες της αραβικής χώρας με βάση την κατανάλωση των τελευταίων ετών, ξεπερνούν τα 1,5 τρις κυβικά πόδια ΦΑ.

Παρά το γεγονός ότι είναι νωρίς για την εξαγωγή αφαλών συμπερασμάτων,  εκτιμάται ότι να νέα δεδομένα θα διαφοροποιήσουν  τους ενεργειακούς σχεδιασμούς της χώρας στους οποίους  συμπεριλαμβάνεται και το ισχυρό ενδεχόμενο πώλησης ΦΑ από το κοίτασμα Αφροδίτη αλλά και από τα Ισραηλινά κοιτάσματα εν είδει ενδιάμεσης λύσης, έως ότου ξεκινούσε η εγχώρια εξόρυξη και διάθεση ΦΑ για τις εσωτερικές ανάγκες.

Μια πρώτη ένδειξη για τις προθέσεις της Αιγύπτου έδωσε ο εκπρόσωπος του Υπουργείου Πετρελαίου της χώρας Hamdy Abdel Aziz. Με δηλώσεις του, που φιλοξενούνται στο bloomberg.com, ο Αιγύπτιος αξιωματούχος ουσιαστικά τινάζει στον αέρα το ενδεχόμενο αγοράς ΦΑ από τα κοιτάσματα του Αφροδίτη. «Τα σχέδια της Αιγύπτου για εισαγωγή αερίου από την Κύπρο θα τύχουν επανεξέτασης και από τα δύο κράτη, δήλωσε ο Abdel Aziz. Οι σχεδιασμοί προνοούσαν ότι η Αίγυπτος θα ξεκινούσε εισαγωγή το 2018.Η ηλεκτρική κατανάλωση στην Αίγυπτο αυξάνεται ετησίως κατά περίπου 7%»,  είπε ο Αιγύπτιος αξιωματούχος.

Παράλληλα, κατέστησε σαφές ότι το σύνολο των νέων ποσοτήτων θα χρησιμοποιηθεί για να καλυφθούν οι εγχώριες ανάγκες. «Όλη η παραγωγή θα χρησιμοποιηθεί για εγχώρια κατανάλωση», σχολίασε στο Bloomberg μετά την τεράστια ανακάλυψη της ENI σε αιγυπτιακά νερά στην οποία μπορεί να βρίσκονται 30τρις κυβικά πόδια φυσικού αερίου».
Ένας άλλος παράγοντας που ενισχύει την προοπτική η Αίγυπτος να πραγματοποιήσει στροφή και να στηριχθεί εξαρχής στα δικά της κοιτάσματα, είναι και η επίσημη τοποθέτηση , από πλευράς ENI, για  όσο το δυνατόν ταχύτερη εμπορική αξιοποίηση των 30 τρις κυβικών ποδιών ΦΑ του τεμαχίου Shorouk.

Στους υπολογισμούς που γίνονται, η επενδυτική απόφαση λέγεται ότι δυνατόν να ληφθεί μέχρι τέλος του έτους, κάτι που πρακτικά σημαίνει ότι καθίσταται εφικτό η παραγωγή ΦΑ να ξεκινήσει το 2016 – 2017. Η νέα ανακάλυψη δημιουργεί όμως και θετικά δεδομένα, καθώς  οι ποσότητες υδρογονανθράκων της Ανατολικής Μεσογείου αυξάνονται σημαντικά, αναβαθμίζοντας έτσι των γεωστρατηγικό ρόλο της περιοχής.

Ένα εξίσου σημαντικό στοιχείο που απασχολεί ήδη σε τεχνοκρατικό επίπεδο, είναι ενδεχόμενη αναπροσαρμογή των εμπορικών και επενδυτικών πλάνων που βρίσκονται σε εξέλιξη και αφορούν Κύπρο και Ισραήλ. Σε πολιτικό επίπεδο οι πρώτες αντιδράσεις είναι συγκρατημένες και αναδεικνύουν περισσότερο τη γεωστρατηγική σημασία που αποκτά η ευρύτερη περιοχή.

Τα υπέρ και τα κατάΠολύ πριν ανακοινωθούν επίσημα τα αποτελέσματα των ερευνών της ENI στο αιγυπτιακό τεμάχιο,  Κύπρος και Αίγυπτος είχαν εγκαινιάσει εντατικές διαβουλεύσεις, με προοπτική την εμπορική  συνεργασία στον τομέα πώλησης σημαντικών ποσοτήτων από το κοίτασμα Αφροδίτη στην Αιγυπτιακή αγορά μέχρι το 2020.

Παρόμοια προοπτική υπήρχε και με τα κοιτάσματα  από την πλευρά του Ισραήλ. Με βάση και πρόσφατο ρεπορτάζ της «Κ», το Σχέδιο Ανάπτυξης του κοιτάσματος  Αφροδίτη που παρέδωσε στην κυβέρνηση η εταιρεία Noble είχε ως βασικό άξονα την αιγυπτιακή αγορά, αλλά και τα εκεί δυο τερματικά υγροποίησης ΦΑ.

Όπως εκτιμούν τεχνοκράτες που παρακολουθούν στενά τα ενεργειακά πράγματα της περιοχής, οι διαφαινόμενες ποσότητες του τεμαχίου Shorouk, εκτός από την εσωτερική αγορά της χώρας, μπορούν να θέσουν σε πλήρη ανάπτυξη και τα δυο τερματικά που υπάρχουν, το ένα από αυτά στην Damietta, στο οποίο η ENI έχει μετοχική παρουσία και αυτή την στιγμή υπολειτουργεί. Πάντα από τεχνοκρατικής απόψεως στα υπέρ της ανακάλυψης συγκαταλέγονται:

-Η αναβάθμιση του ενεργειακού και γεωπολιτικού  ρόλου των κρατών της περιοχής.

-Ενίσχυση του μπλοκ συνεργασία Κύπρου – Αιγύπτου.

-Αναβάθμιση του ευρωπαϊκού ενεργειακού ενδιαφέροντος, με ότι αυτό μπορεί να συνεπάγεται για Κύπρο και Ελλάδα.

-Πιθανά οικονομικά οφέλη για την Κύπρο από ενδεχόμενη ενεργοποίηση της συμφωνίας για οριοθέτηση της μέσης γραμμής. (Το αιγυπτιακό τεμάχιο γειτνιάζει με τα τεμάχια 10 και 11  και ενδεχομένως το κοίτασμα γίγας να εισέρχεται στα δυο τεμάχια της κυπριακής ΑΟΖ).

-Ενδεχόμενες νέες έρευνες στα τεμάχια 10 και 11 αυτή την φορά για ΦΑ. (Είχαν προηγηθεί έρευνες για πετρέλαιο με αρνητικά αποτελέσματα από τη γαλλική TOTAL).


Στο «αρνητικό» πρόσημο, έτσι όπως καταγράφεται από τεχνοκρατικής απόψεως υπό μορφή προβληματισμού, συγκαταλέγονται:

-Τι μέλλει γενέσθαι με την εμπορική συνεργασία Κύπρου – Αιγύπτου και ενδεχόμενη συνεργασία Ισραήλ – Αιγύπτου;

-Ενδεχόμενο «ναυάγιο» - τι επιπτώσεις θα επιφέρει στην ανάπτυξη των υπό μελέτη θαλάσσιων υποδομών από το κοίτασμα Αφροδίτη προς την Αίγυπτο;

-Ποιες οι επιπτώσεις στην διοχέτευση ΦΑ στην εσωτερική αγορά της Κύπρου;

-Βιωσιμότητα αγωγού ΦΑ από Αφροδίτη προς Κύπρο.

-Γενικότερες επιπτώσεις στην εμπορική εκμετάλλευση του κυπριακού ΦΑ.

-Χρονοδιαγράμματα εξόρυξης και πώλησης.


Στην λογική ότι τα ευρήματα της ENI καλύπτουν την ζήτηση από αιγυπτιακής πλευράς, το ερώτημα που τίθεται είναι ποιες εναλλακτικές επιλογές έχουν Κύπρος και Ισραήλ. Σε μια τέτοια περίπτωση οι εκτιμήσεις που καταγράφονται ήδη επαναφέρουν στο προσκήνιο την προοπτική της  ευρωπαϊκής αγοράς, η οποία με δεδομένα τα προβλήματα που υπάρχουν με την Ρωσία, μπορεί να απορροφήσει τα κυπριακά και ισραηλινά κοιτάσματα δίνοντας ισχυρά συμβόλαια για τις απαιτούμενες υποδομές και επενδύσεις.

Και εδώ όμως επαναφέρεται η περίπτωση της Τουρκίας, μέσω της οποίας θα περάσουν τα κοιτάσματα προς την Ευρώπη, που, για την Κύπρο, με άλυτο το πολιτικό πρόβλημα, δεν μπορεί να περπατήσει. Η άλλη εναλλακτική, που φαίνεται να βγαίνει από την ναφθαλίνη, είναι το τερματικό υγροποίησης στο Βασιλικό.

Μια μονάδα που υπό τις σημερινές περιστάσεις μπορεί να καταστεί βιώσιμη, νοουμένου ότι θα απορροφήσει τις ισραηλινές ποσότητες προς εξαγωγή, τις ποσότητες του Αφροδίτη και στο μέλλον από άλλες χώρες της περιοχής, όπως ο Λίβανος. Και στις δυο περιπτώσεις όμως, αρνητικός παράγοντα θα αποτελέσει ο χρόνος εμπορικής εκμετάλλευσης του ΦΑ.

Ο στόχος, με βάση τα χρονοδιαγράμματα για το 2020, δεν μπορεί να είναι εφικτός και δεν αποτελεί εξωπραγματικό ενδεχόμενο να μετατεθεί για τα μέσα της δεκαετίας του 2030.

Κανένα πρόβλημα με την πώληση ΦΑ, λέει ο ΠτΔΗ πρώτη επίσημη αντίδραση της Λευκωσίας εκδηλώθηκε από τον Πρόεδρο της Δημοκρατίας και κινήθηκε σε θετικό πρόσημο. Ο Νίκος Αναστασιάδης επικεντρώθηκε στα γεωπολιτικά και γεωστρατηγικά οφέλη σε συνάρτηση με την επίλυση του Κυπριακού. Οι κινήσεις της Τουρκίας προς Ισραήλ - πλευρά, αλλά και ενδεχομένως προς την Αίγυπτο, κατέστησε σαφές ο Πρόεδρος της Δημοκρατίας, περνούν από την Λευκωσία.

«Διαφορετικά, ο όποιος αγωγός, είτε το θέλουν είτε όχι, θα πρέπει να διέρχεται είτε διά της Κύπρου, είτε εντός της ΑΟΖ της. Οπότε, αυτό αναβαθμίζει τον ρόλο της Κυπριακής Δημοκρατίας και της ανάγκης επίλυσης του Κυπριακού, αν θέλουν να έχουν τα προσδοκώμενα αποτελέσματα».

Το άλλο σημείο το οποίο ανέδειξε ο Πρόεδρος Αναστασιάδης ήταν τυχόν οικονομικά οφέλη που μπορούν να προκύψουν από τα τεμάχια 10 και 11 που γειτνιάζουν με το χρυσοφόρο αιγυπτιακό κοίτασμα.  Αν και φειδωλός, ο Πρόεδρος της Δημοκρατίας δεν φαίνεται να ανησυχεί από ενδεχόμενες αρνητικές επιπτώσεις που αφορούν τις διαβουλεύσεις Κύπρου -Αιγύπτου.

Τα ενεργειακά καθώς και τα ευρύτερα θέματα που αφορούν την Ανατολική Μεσόγειο βρέθηκαν στο επίκεντρο τηλεφωνικής επικοινωνίας του Προέδρου της Δημοκρατίας με τον πρόεδρο της Ευρωπαϊκής Επιτροπής Ζιαν Κλοντ Γιούνκερ.Έμφαση δόθηκε στον ενεργειακό τομέα και επισήμαναν την προστιθέμενη αξία που θα έχει η αξιοποίηση των κοιτασμάτων της περιοχής, στην προσπάθεια της ΕΕ για δημιουργία νέας ενεργειακής οδού προς τα κράτη μέλη της Ένωσης.

Source: http://www.kathimerini.com.cy/index.php?pageaction=kat&modid=1&artid=217456&desktop=Y

Egypt says Zohr gas find will not undermine talks on imports from Israel | The Cairo Post

Egypt says Zohr gas find will not undermine talks on imports from Israel

The Cairo Post, Sep. 02, 2015 15:24

Egypt says Zohr gas find will not undermine talks on imports from Israel
Minister Of Petroleum Sherif Ismail - YOUM7 (Archive)
By 
CAIRO: The discovery of the Zohr natural gas field off Egypt will not undermine private-sector negotiations about buying gas from Israel,
Egypt‘s petroleum minister said, playing down fears that potential deals could be under threat.
Italian energy company Eni announced on Sunday that it had found an estimated 30 trillion cubic feet (tcf) of gas in the Zohr field, making it the biggest discovery in the Mediterranean and the world’s 20th largest.
The find raised concerns in Israel’s gas industry that its Leviathan field would lose a deal to supply gas to a liquefied natural gas (LNG) plant in Egypt.
“Any negotiations between private companies in Egypt and in the eastern Mediterranean, and by this I mean Israel and Cyprus, will not stop,” Petroleum Minister Sherif Ismail told Reuters in an interview.
“These negotiations and initial agreements are ongoing.”
Private companies will require government approval to import gas from Israel, the minister said.
Ismail’s comments may improve sentiment on the Israeli stock market where leading energy companies on Monday suffered losses of more than 4.5 billion shekels ($1.1 billion) after news of the Zohr discovery.
Despite the minister’s comments, Western oil companies operating in Egypt negotiating gas import deals with Israeli counterparts will have to decide for themselves whether recent finds in Egypt alter the equation.
“We do not object to the plans of private companies (which are) operating in Egypt and looking to import natural gas from eastern Mediterranean countries,” the minister said.
For Egypt, the Zohr field offers hope in the country’s battle with chronic, politically sensitive energy shortages.
Egypt used to export gas to Israel and elsewhere but has become a net importer over the last few years because of booming consumption and depleted natural gas output.
State-owned EGAS has been forced to ration gas supplies to industry, crippling production and hamperingEgypt‘s economic recovery.
Blackouts deepened discontent with Islamist President Mohamed Mursi before the army toppled him in 2013.
Gas produced from the Zohr field will flow to Egypt, including Eni’s share, Ismail said, suggesting Cairo has no export plans from Zohr.
Eni will hold a 35 percent share of Zohr’s reserves, with the rest claimed by the state, the Ministry of Petroleum said this week.
“The priority is for the domestic market,” Ismail said.
Around 75 percent of the 30 tcf of gas in the new field is likely recoverable given it’s “good quality” and this would bring Egypt‘s total natural gas reserves to an estimated 90 tcf, the minister said.
Once developed it is expected to produce between 2.5 and 3 billion cubic feet of gas per day, Ismail said.
Eni is expected to deliver a development plan by the end of October detailing the number of wells it will dig, and production will likely begin at the start of 2018, the minister said.
Analysts say this timeline is ambitious and that at least in the short run Egypt may still look to Israel’s Leviathan to fill its natural gas needs.
The price paid to Eni to purchase the field’s gas for domestic use is still under negotiation.
“We have not yet agreed with Eni over the price of the gas …but the important thing is it’s a number appropriate for both parties …It’s not a condition that it be the same number agreed upon in other deals,” the minister said.
In July, Egypt raised the prices it pays Eni and Edison for the gas they produce in the country, a move intended to encourage needed investment in energy.
The petroleum minister said previously that Egypt is looking to be energy self sufficient by 2020. The newest discovery does not mean this will be achieved any sooner, he said.
When asked about the prospect of exporting gas in the future, the minister said: “We have to be realistic…we need to cover the needs of the domestic market in full.”
The prospect of relaunching exports depends on other discoveries and production levels from other, smaller fields expected to come online in the next few years, he said.
The Zohr discovery also makes it more likely that LNG plants which have suspended operations in recent years return to service.
“Of course the LNG plants will go back to operating in the coming period, as we have a plan to exploit the gas surpluses of Mediterraneanbasin countries for use at these plants,” the minister said, adding he hopes to make Egypt a global gas hub.
“It’s very likely that the new discovery will attract new international companies to work in the area,” he said.

Source: http://www.thecairopost.com/news/165799/business/egypt-says-zohr-gas-find-will-not-undermine-talks-on-imports-from-israel

Tuesday, September 1, 2015

Eni's giant discovery to transform Egypt's gas outlook | Wood Mackenzie


Eni's giant discovery to transform Egypt's gas outlook

We assess the potential impact of the find and whether the development could meet the country's supply shortfall.
Eni recently announced a giant discovery at its Zohr prospect in offshore Egypt. Estimated to hold 30 trillion cubic feet (tcf) of lean gas , it is one of the most significant global finds of the past decade.
For Egypt, Zohr's importance is enormous. Following a decade of little exploration success and a slowdown in investment, the country began importingLNG in April to meet growing domestic demand.
Egyptian gas supply chart
We expect LNG imports to reach close to 6 mmtpa next year. However, an additional 2.5-3 bcf/d of gas from Zohr - over 60% of Egypt's current indigenous supply - will negate the need for long-term imports, with the country entering a period of energy self-sufficiency.
A moratorium on exports from new discoveries has long been in place and we expect all Zohr gas to supply the domestic market. However, depending on the future policies of the state-owned Egyptian Natural Gas Holding Company (EGAS), it may free up upstream producers with cancelled gas sales agreements to resume exports via the 1.6 bcf/d of idle LNG export capacity.
Explorers will also be heartened by the discovery. EGAS will have learned from the 'gas glut' of the nineties and better stewardship will ensure the continuing prioritisation of the domestic market, while encouraging the development of other finds.
Longer term, Zohr will provide the government some breathing space as it liberalises the gas sector. But, in the short-term, it could delay the development of costlier, high pressure developments and reduce pricing that operators might otherwise have secured from EGAS.
Nevertheless, Egypt's upstream sector is continuing to enjoy a renaissance in 2015 and Zohr looks set to be the crown in a remarkable transformation of fortunes.