Saturday, February 27, 2016

Southern Gas Corridor remains priority for EU - TREND NEWS AGENCY

Baku, Azerbaijan, Feb. 27, 2016
By Elena Kosolapova

The Southern Gas Corridor project remains a priority for the European Union, a European Commission energy spokeswoman told New Europe.

“The immediate priority for the region remains the completion of the Southern Gas Corridor, including TANAP, the Greece-Italy Trans-Adriatic Pipeline and the Greece-Bulgaria IGB interconnector,” said the spokeswoman.

She noted that the Southern Corridor is successfully being put in place to supply gas from Azerbaijan to the EU by 2020.

The corridor also offers the potential, in the future, to facilitate the entry of other gas sources into the EU from the Eastern Mediterranean, the Caspian, and the Middle East, according to the spokeswoman.

The Southern Gas Corridor takes precedence over an agreement signed by Russia’s Gazprom, Italy’s Edison and Greece’s DEPA on February 24 to develop a natural gas pipeline between Greece and Italy to transport Russian gas to Europe, the EC spokeswoman added.

Friday, February 26, 2016

Subsea 7 awarded contract offshore Egypt - SUBSEA 7

Luxembourg - 26 February, 2016 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a major(1) contract by BP, and partner DEA (Deutsche Erdoel AG), for the development of the Giza, Fayoum and Raven subsea fields offshore Alexandria, Egypt.

This is the second phase of the West Nile Delta project, where the field development will be at depths of up to approximately 800 metres.

The contract scope includes engineering, procurement, installation and pre-commissioning of the subsea infrastructure from twelve wells, with 80 kilometres of umbilicals and 220 kilometres of pipelines. It also includes the installation of the export lines from the subsea location to the Idku terminal.

Engineering and project management work will commence immediately and will be undertaken at Subsea 7's Global Projects Centre in London. Offshore installation is scheduled to commence in two stages.

Eni's new successful exploration activities in Egypt - ENI

26/02/2016, CET 08:06

Eni successfully drilled a new well in the Nooros East exploration prospect, in the Abu Madi West license and it also completed the drilling of the Zohr 2X well, first appraisal well of Zohr discovery, in the Shorouk block.

San Donato Milanese (Mi), 26 February 2016 - Eni successfully drilled the "Nidoco North 1X" well, in the exploration prospect of "Nooros East", located in the Abu Madi West license, in the Nile Delta, Egypt. The new find start up is expected by the end of March 2016 and will allow the Nooros area, which started production in September 2015, just two months after the initial Nooros discovery, to reach a production of approximately 45,000 barrels of oil equivalent per day (boed). Eni, through its subsidiary IEOC, holds a 75% stake in the concession of Abu Madi West, while BP holds a 25% stake.

Thursday, February 25, 2016

Submission to the Petroleum Commissioner of a Revised Development Plan for the Leviathan Project in a Capacity of approx. 21 BCM per annum - DELEK GROUP

Tel Aviv, February 25, 2016. Delek Group (TASE: DLEKG, US ADR: DGRLY) ("the Company") is pleased to announces that the below is an Immediate Report submitted by each of Avner Oil Exploration Limited Partnership and Delek Drilling Limited Partnership ("the Partnerships") with regard to the submission to the Petroleum Commissioner of a revised development plan for the development of Leviathan project in a capacity of approximately 21 BCM per year.

Further to the provisions of Section of the Partnerships' Periodic reports as of December 31, 2014, as released on March 18, 2015 (hereinafter: the "Periodic Report") regarding a proposed outline for the development of the Leviathan field (hereinafter: the "Original Development Plan"), further to the immediate report dated December 17, 2015 regarding the Natural Gas Framework (as defined in the said report) (hereinafter: the "Framework" or the "Gas Framework") coming into force, and to the immediate reports dated December 27, 2015 and January 7, 2016, the Partnerships are pleased to announce that as part of the implementation of the Framework, and in order to advance the development of Leviathan field, on February 25, 2016 Noble Energy Mediterranean Ltd., the Partnerships and Ratio Oil Exploration (1992) Limited Partnership (hereinafter collectively: "Leviathan Partners") submitted to the Petroleum Commissioner in the Ministry of National Infrastructures, Energy and Water Resources (hereinafter: the "Commissioner") a revised development plan for the Leviathan field, which includes supply of natural gas and condensate for the domestic market and for export (hereinafter: the "Development Plan" or the "Plan"), which its main principles are as follows:

Russia cuts deliveries to Turkey's private importers - NATURAL GAS EUROPE

February 25th, 2016

Turkey’s energy minister has confirmed that Russian giant Gazprom has cut gas deliveries to Turkish private companies by 10% over a price dispute. State Anadolu agency reported February 25 that the dispute over prices emerged after Gazprom cancelled a 10.25% discount for private companies in Turkey, which it announced January 29, about a year after it was introduced.

Enerco Enerji, Bosphorus Gaz, Avrasya Gaz, Shell, Batı Hattı, and Kibar Enerji import gas from Russia in line with an agreement signed in 2012. Turkey imports 28-30bn m³/yr from Russia, of which private companies take 10bn m³/yr.

A ‘boring’ proposition - THE TIMES OF MALTA

The yard in Sharjah can handle storage, inspection,
maintenance and repair of pipes.
Thursday, February 25, 2016, 06:01 by Vanessa Macdonald, Sharjah, UAE

You might think that – if you excuse the pun – a pipe storage facility would be boring.

In fact, it might cross your mind that it is a rather strange investment for Medserv to make. And not just any investment but a $45 million one, doubling its size overnight.

It turns out, however, to be a very smart move indeed. Middle East Tubular Services was founded in 2006 and like the entrepreneurial spirit of Medserv’s executives, its founder Paul Hayward, with Peter Howes, saw opportunity and went for it.

METS has pipe storage yards in Sharjah in the United Arab Emirates, since 2010 at Basra in Iraq and since 2012 in the Sohar Free Zone in Oman, just 4.5 kilometres from a port on the Indian Ocean, employing around 160 people overall.

Wednesday, February 24, 2016

Israeli minister: Noble Energy gas could bring some Middle East stability - FUELFIX

February 24, 2016 | By Jordan Blum

Pipelines to transport the natural gas produced by Houston’s Noble Energy could bring more peace to the Middle East as multiple nations benefit from the abundant gas resources, Israel’s energy minister said Wednesday.

“I think it might serve stability at least in part of the Middle East,” said Yuval Steinitz, Israel’s minister of infrastructure, energy and water, while speaking with a panel of international energy ministers at IHS Energy CERAWeek in downtown Houston.

The group of global energy ministers touted their moves to focus more on natural gas to fuel economic growth — and away from coal.

Israel recently worked out a regulatory framework for Noble to develop the massive Leviathan gas field offshore of Israel. The region is largely unexplored and more discoveries are expected, Steinitz said.

Iran May Boost Gas Exports to Europe Through Greece Facilities - BLOOMBERG

Alexis Tsipras (left) with Hassan Rouhani
February 24, 2016by Paul Tugwell (@paultugwell1) & Nikos Chrysoloras (@nchrysoloras)

Greece is in preliminary talks with Iran to secure natural gas for local needs and provide a gateway for the Persian Gulf nation to supply fuel to other parts of Europe, Greek Energy Minister Panos Skourletis said.

Greece produces little oil and almost no gas, while Iran is a member of OPEC and holds gas reserves that BP Plc ranks as the world’s largest. The countries agreed in January for Iran to supply crude to Hellenic Petroleum SA and buy oil products from the refiner. That deal, possibly Iran’s first such agreement with a European company since the lifting of sanctions, opens the road to cooperation in the gas market too, Skourletis said in an interview in Athens.

Larnaca port ‘back on the cards’ - IN CYPRUS - CYPRUS WEEKLY

The Arleigh Burke-class guided-missile destroyer USS Donald Cook
(DDG 75) enters Larnaca's port on October 13 2015
incyprus — 24/02/2016

The head of the Cyprus Oil and Gas Association (COGA) has confirmed that there is still a possibility of using Larnaca’s port facilities for future exploratory drills for energy firms despite a recent snub from the local authority.

Larnaca appeared poised to green light the request from COGA before Larnaca municipality board members swayed in favour of a no following what they claim are health fears. Larnaca Mayor Andreas Louroutziatis had been in favour of allowing the port to open its arms to energy giants, namely ENI and Total.

Gazprom, DEPA and Edison sign Memorandum of Understanding - GAZPROM

Alexey Miller, Marc Benayoun and Theodoros Kitsakos
February 24, 2016

Alexey Miller, Chairman of the Gazprom Management Committee, Marc Benayoun, CEO of Edison SpA, and Theodoros Kitsakos, CEO of DEPA SA, signed today the Memorandum of Understanding on natural gas deliveries across the Black Sea from Russia via third countries to Greece and from Greece to Italy in order to establish a southern route to deliver Russian natural gas to Europe.

The signing ceremony took place after the meeting held today in Rome between Alexey Miller and Federica Guidi, Italian Minister of Economic Development. The ceremony was attended by Giorgos Tsipras, Greek Foreign Ministry's Secretary General for International Economic Relations.

Turkey Changes Tack for the 2020S: Energy Specialist - NATURAL GAS EUROPE

February 24th, 2016

Turkey needs to react quickly to the consequences of the dramatic worsening of its relations with Russia since November. Hasan Selim Ozertem, head of energy security studies at Turkey’s international strategic research organization (USAK), spoke to NGE about the problems facing over half of Turkey's gas supplies and the steps it can take to mitigate them.

Ozertem is one of the new generation of Turkish think-tank experts. He has worked on projects with the UN, the Turkish ministries of domestic and foreign affairs and the UK major BP.

Mr Ozertem, this is a critical juncture in the Turkish-Russian relations. What is its impact on Turkey’s energy security?
Russian-Turkish relations were projected to be mutually beneficial through inter-dependence between our two countries. In the longer term this may be still valid, but right now there are concerns about the future as economic cooperation becomes a secondary issue among increasing security concerns in the region. Turkey’s neighbourhood is unstable, the East Med is a region of unresolved disputes and Russia is confrontational. The rift with Russia is deepening.

Understandably within Turkey energy security has become a major issue, something we were not considering a priority issue a few months ago. But it has now become a popular subject once again. Russia has not cut gas supplies, but we need to ensure our energy needs, including future needs, are secured.

Tuesday, February 23, 2016

Why Russia may be a smart business partner for Israel - REUTERS

Israeli gas platform, controlled by Noble-Delek, some 24 km
west of Israel’s Ashdod - Feb 25, 2013 REUTERS/Amir Cohen
By Josh Cohen February 23, 2016

Israeli Prime Minister Golda Meir famously lamented that Moses “took us 40 years through the desert in order to bring us to the one spot in the Middle East that has no oil.” That all changed, though, in 2009, when a massive offshore natural gas field named Tamar was discovered. The following year, an even larger field named Leviathan was also discovered in Israeli waters, and another large find was just announced in January. Israel’s fields include more than 32 trillion cubic feet of gas — enough to supply the Israeli economy for 150 years, assuming the gas can actually be brought to market with the help of a suitable partner.

Since Israel possesses far more gas than it needs, Israeli leaders face an enviable dilemma: Where to export this bounty? Both economic factors — particularly the challenge of financing the development of Leviathan — as well as the Middle East’s geopolitical complexities make the choice trickier than it sounds.

Egypt's Midor signs $1.2 billion loan agreement - REUTERS

Tue Feb 23, 2016, CAIRO

Feb 23 Egypt's state-owned Middle East Oil Refinery Company (Midor) has signed an initial loan agreement with three banks for $1.2 billion, the state news agency said on Tuesday.

The loan represents around 80 percent of the cost of its $1.4 billion Alexandria refinery lab expansion, while the remaining $230 million will be self-financed, Midor Chairman Mohamed Abdel Aziz said.

The agreement was signed by Abdel Aziz with the heads of a banking consortium that includes French banks Credit Agricole and BNP Paribas and Italy's CDP.

The expansion at Midor aims to increase the company's refining capacity to 160,000 barrels per day (bpd) from 100,000 bpd.

Egypt has struggled with soaring energy bills caused by high subsidies it provides on fuel for its population of more than 80 million.

Cyprus Can Contribute to Southeast Europe’s Energy Diversification - Bulgarian President - NOVINITE

President Rosen Plevneliev (left) w/ President Anastasiades
February 23, 2016, Tuesday

During the meeting with his Cypriot counterpart Nicos Anastasiades on Monday, Bulgarian President Rosen Plevneliev said that Cyprus can contribute to the energy diversification of the countries from Southeastern Europe.

Anastasiades is on a two-day official visit to Bulgaria on Monday and Tuesday at the invitation of Plevneliev.

Speaking at a joint press conference after their meeting on Monday, the two presidents called on the EU to provide support in constructing energy infrastructure in Southeastern Europe, which will increase the energy security of the countries from the region.

Monday, February 22, 2016

Noble Energy to Present at Upcoming Energy Conference - NOBLE ENERGY

Feb. 22, 2016 -- Noble Energy, Inc. (NYSE: NBL) announced that David L. Stover, the Company's Chairman, President & CEO, will present at the Credit Suisse Energy Summit on Tuesday, February 23, 2016 at 8:00 a.m. Mountain Time.

The presentation will be webcast live on the ‘Investors' page of the Company's website, with a replay accessible for 90 days. Presentation materials will also be posted on the website.

Turkey's Generators Face Problems of Price - NATURAL GAS EUROPE

February 22nd, 2016

Electricity prices do not make happy reading for gas-fired power producers in Turkey nowadays.

A surge in renewable generation, slowing demand and the impact of falling commodity prices have all contributed to pare the spot price for the last 14 months.

The story is not dissimilar to what has been happening in European power markets in recent years where renewable generation is gradually displacing thermal production, depressing power prices. The difference is that in Turkey there is a pressing need for more gas generation because of the pending expiry of contracts for public-private gas-fired plants.

But just as 5 GW of thermal plants built under the so-called build-own-operate and build-own-transfer (BOO/BOT) partnerships some 20 years ago are to be phased out in 2018/2019, there are also growing fears that Russia may act on its threats to discontinue the transit of gas through Ukraine to dependent countries by 2019.

Sunday, February 21, 2016

Eni completes the authorization process for the development of Zohr gas field - ENI

21/02/2016

The Egyptian Ministry of Petroleum has approved that EGAS grants Eni the Zohr Development Lease, which allows for the development of the gas field located offshore Egypt.

San Donato Milanese (Mi), 21 February 2016 - The Egyptian Ministry of Petroleum and Mineral Resources has approved that the Egyptian Natural Gas Holding Company (EGAS) grants Eni the Zohr Development Lease, which, following the contractual framework definition, allows for the development of the gas field, located in the Shorouk Concession, offshore Egypt.

Gas dynamics and prospects in the East Med - IN BUSINESS / CYPRUS WEEKLY

Charles Ellinas — 21/02/2016

This is based on presentations and discussions at a conference organised by the international think-tank Konrad Adenauer Stiftung at the Truman Institute in Jerusalem on February 10-11 2016.

Participation was by invitation only, with delegates from Israel, Jordan, Turkey and Cyprus, including the EU and Russia. I was a participant and made presentations at the conference and to Israel’s Ministry of Foreign Affairs.

The aim was to discuss and analyse recent developments in the East Med and the Middle East with a particular focus on geopolitics and energy, with an eye on the potential state of the region in the 2020s.

Poseidon Med II Pursues East Mediterranean LNG Bunkering - NGV GLOBAL NEWS / POSEIDON MED II

February 21, 2016 | Europe, Brussels

Logo-Poseidon Med II POSEIDON MED (PM-I), the first Cross European Border project which aimed to introduce LNG as the main fuel for the shipping industry and develop concepts for an Eastern Mediterranean LNG bunkering infrastructure, has completed this first phase and graduated to POSEIDON MED II (PM-II). The new European project aims to design the legislative and market prerequisites for the use of LNG as a marine fuel, again in the Eastern Mediterranean.

A ceremony held in the European Parliament on 17 February marked the formal conclusion of PM-I and commencement of PM-II. The event brought together Members of the European Parliament (MEPs), Member States’ Permanent representatives, delegates from the European Commission, industry participants, as well as the Poseidon Med project partners.