Saturday, December 9, 2017

Pilot production from Zohr field started Saturday: Source - EGYPT TODAY


Sat, Dec. 9, 2017

CAIRO – 9 December 2017: Pilot production from Zohr gas field has kicked off Saturday, with a production capacity of 300-500 million cubic feet a day, an informed source at the Egyptian Natural Gas Holding Company (EGAS) told Egypt Today.

Friday, December 8, 2017

Gazprom's natural gas exports to Europe, Turkey move past 2016 levels to fresh record - PLATTS


London (Platts)--8 Dec 2017 801 am EST/1301 GMTStuart Elliott, Edited by Alisdair Bowles

Russia's Gazprom is set to exceed on Friday the level of exports to Europe and Turkey that was recorded in 2016 as demand for Russian natural ss and cold weather across the continent

  • Sales to Europe, Turkey to reach 179.8 Bcm Friday
  • CEO points to 'unconditional reliability' of supplies
  • Nord Stream set for 87% utilization rate in 2017
Taking into account the nominated volume for Friday, Gazprom will have exported 179.8 Bcm to what it calls the Far Abroad -- Europe and Turkey, but not the countries of the former Soviet Union -- higher than last year's then record high of 179.3 Bcm.

Thursday, December 7, 2017

3 Israeli cos buying gas from Karish, Tanin reservoirs - GLOBES


7 Dec, 2017 12:13
Sonia Gorodeisky

Israel Chemicals, Oil Refineries, and OPC will buy 39 BCM over 15 years.

Israel Chemicals (TASE: ICL: NYSE: ICL), Oil Refineries Ltd. (TASE:ORL), and OPC Energy Ltd. (TASE:OPCE), all Idan Ofer-controlled companies, have signed an agreement with Greek company Energean to buy natural gas from the Karish and Tanin reservoirs. The deal includes the supply of 39 BCM of gas over 15 years to the companies: 17 BCM to Oil Refineries, 13 BCM to Israel Chemicals, and 9 BCM to OPC Mishor Rotem. The deal also includes an 18-year extension option.

The price for the deal is believed to total $5.7 billion. Energean estimates that gas will begin flowing from its two reservoirs in 2020. The average price for the deal is about $4.10 per million Btu, 20% lower than the price in the agreements signed for gas from the Leviathan reservoir and 30% lower than the price that Israel Electric Corporation (IEC) (TASE: ELEC.B22) is paying from gas from the Tamar reservoir.

The three companies negotiated jointly with Energean in order to leverage their purchasing power to obtain better terms. At the same time, now that the negotiations have been concluded, each of the companies in the group has a separate agreement that is independent of the agreements with the others.

BASF agrees oil unit merger with Fridman's DEA to spur expansion - REUTERS

DECEMBER 7, 2017 / 9:13 PM
Dmitry Zhdannikov, Ron Bousso, Ludwig Burger

FRANKFURT/LONDON (Reuters) - Chemical giant BASF agreed to merge its oil and gas unit Wintershall with DEA, a vehicle of Russian billionaire Mikhail Fridman, to create one of the largest independent oil and gas firms in Europe, the companies said.

Fridman and his partners in the LetterOne investment vehicle made billions by selling their Russian oil empire in 2013 but have since struggled to expand in the United States and Britain due to sanctions imposed on Moscow despite not being under sanctions themselves.

By folding DEA into Wintershall and creating Germany’s first oil champion, cash-rich Fridman could create new opportunities for growth in large Western markets.

Siemens signs deal to build two gas-fired power plants in Libya - REUTERS

DECEMBER 7, 2017 / 11:40 PM
Reporting by Georgina Prodhan; writing by Douglas Busvine; editing by Andrew Roche

FRANKFURT (Reuters) - Siemens, the German industrial group, plans to build two gas-fired power stations in Libya, in a fillip for its struggling power division which is shedding staff as developed economies shift to renewable sources of energy.

Siemens Power and Gas signed the agreements on Thursday with Libyan state utility GECOL on the plants, a company spokesman said without elaborating.

The deal follows an announcement by Siemens last month that it would cut 6,900 jobs, or around 2 percent of its global workforce. Most of the jobs would be shed by 2020 at its energy unit as demand for gas turbines fades.

Wednesday, December 6, 2017

Edison takes on Shah Deniz gas supply contract - OFFSHORE MAGAZINE



DEC/06/2017

MILAN, Italy – Edison has agreed to acquire Gas Natural Vendita Italia (GNVI) from Gas Natural Fenosa for Eu192.8 million ($228 million).

GNVI supplied gas and electricity last year to 420,000 residential and 14,000 SME users in Italy.

Under the agreement, Edison will also assume an 11-TWh long-term gas supply contract from the Shah Deniz II development project in the Azeri sector of the Caspian Sea.

Gas imports from the project are set to begin at the end of 2020 following the completion of the Trans Adriatic Pipeline (TAP).

Total consideration payable for the gas supply contract is Eu30 million ($35.5 million), starting from 2021 subject to the first delivery of gas to Italy through the TAP pipeline.

Noble Energy VP: We'll meet our timeline of delivering gas - JERUSALEM POST


December 6, 2017 16:57 
MAAYAN HOFFMAN

The Leviathan offshore natural gas field has brought Israel into a new era, according to Binyamin A. Zomer, vice president for regional affairs for Noble Energy, which operates Leviathan.

Speaking at Wednesday’s Jerusalem Post Diplomatic Conference, Zomer said that since February, when Noble Energy announced a “final investment decision” – a commitment to fully invest in the development of the Leviathan natural gas field off the Haifa coast, Israel’s biggest-ever infrastructure project – the company has completed almost 30% of the project.

“We will meet our timeline of delivering gas to Israel and neighboring countries before the end of 2019,” said Zomer.

Tuesday, December 5, 2017

Israel expects gas to flow from east Mediterranean to Europe - THE WASHINGTON POST

From left, Cyprus’ energy minister Yiorgos Lakkotrypis, Greece’s Energy minister Giorgos Stathakis, Israel’s Energy minister Yuval Steinitz and Italian ambassador in Cyprus Andrea Cvallari  after the East Med Pipeline agreement signing at “Filoxenia” conference center in capital Nicosia, Cyprus, on Tuesday, Dec. 5, 2017. 

By Menelaos Hadjicostis | AP December 5 at 9:24 AM

NICOSIA, Cyprus — A potential undersea pipeline carrying natural gas from deposits in the eastern Mediterranean to Europe is “very realistic” and could help secure the continent’s energy future, Israel’s energy minister said Tuesday.

Yuval Steinitz said that a study on the “strategic” EastMed Pipeline Project shows that the pipeline is feasible, even though it presents technical challenges due to the depths involved.

Egypt's Atoll gas field begins test production - minister - REUTERS


DECEMBER 5, 2017 / 2:15 PM
Reporting by Abdel Rahman Adel; Writing by John Davison; Editing by Greg Mahlich

CAIRO (Reuters) - Test production at Egypt’s Atoll offshore gas field began on Tuesday with a production capacity of 300 million cubic feet per day, Petroleum Minister Tarek El Molla said.

Actual production would begin in the third week of December, El Molla told Reuters.

BP decided in November 2015 to fast-track the development of Atoll, estimated to contain 1.5 trillion cubic feet of gas and 31 million barrels of condensates.

Lebanon sets 80% local worker requirement - OIL & GAS JOURNAL

DEC/05/2017HOUSTON

Lebanon will require that the workforce of its prospective oil and gas industry be 80% Lebanese.

Energy Minister Cesar Abi Khalil said in a news conference in Beirut that the requirement is part of legislation to be submitted soon to the Cabinet, according to Lebanese press reports.

The country in October concluded its first offshore licensing round after nearly 4 years of delay caused by political conflicts and a vacancy in the presidency.

The round drew bids from two of five blocks on offer from a consortium of Total SA, Eni SPA, and Novatek (OGJ Online, Oct. 13, 2017).

Monday, December 4, 2017

Exclusive: Exxon eyes Egypt's offshore oil and gas - sources - REUTERS

A view of the Exxon Mobil refinery in Baytown, Texas Sept 15, 2008
REUTERS/Jessica Rinaldi
DECEMBER 4, 2017 / 2:10 AM
Ron Bousso, Ernest Scheyder

LONDON/VIENNA (Reuters) - Exxon Mobil (XOM.N) is considering a foray into Egypt offshore oil and gas, seeking to replicate rivals’ success in the country and boost its reserves, officials and industry sources said.

Officials from the world’s largest listed oil producer recently held talks with Egypt’s petroleum ministry to discuss investments in oil and gas production, known as upstream operations, Petroleum Minister Tarek El Molla told Reuters.

“We have been discussing with them, visiting them. They’ve visited us... We are exploring all opportunities for having more and further upstreamers in Egypt,” Molla said on the sidelines of an OPEC meeting in Vienna.

“I would be happy to have them with us,” he said, adding that no decision has been made yet.

Sunday, December 3, 2017

MOU for Israel-Europe gas pipeline to be signed Tue - GLOBES


3 Dec, 2017 12:48
Sonia Gorodeisky

The world's longest underwater pipeline from Leviathan to Italy will allow Israel to export gas to Europe.

A memorandum of understanding for the laying of an underwater gas pipeline from Israel to Europe will be signed on Tuesday in the Cypriot capital Nicosia, sources inform "Globes." The world's longest underwater pipeline will allow Israel to export gas to Europe.

The energy summit in Cyprus on Tuesday will be attended by Israel's Minister of National Infrastructures, Energy and Water Resources Yuval Steinitz and his counterparts from Cyprus, Greece, Italy and the EU. The last such energy summit was held in Israel in April when the sides signed a declaration to move forward with the project.

Israel's Ministry of National Infrastructures, Energy and Water Resources says that the pipeline will be 2,000 kilometers long and will be completed by 2025.

Egypt, Cyprus reach preliminary agreement to implement gas import pipelines - AMWAL AL GHAD / DAILY NEWS EGYPT


Sunday, 03 December 2017 10:27

Egypt has reached a preliminary agreement to extend natural gas transmission pipelines from Cypriot fields to Egyptian liquefaction plants, according to an official source at the Ministry of Petroleum and Mineral Resources.

According to the source, the two sides agreed on some details related to the import of Cypriot gas, most notably, the extension of natural gas pipelines from Cypriot fields to the natural gas liquefaction plant in the area of Idku, although distribution of the pipeline construction cost has not yet been agreed.