Egypt Snubs LNG, Plans To Send Gas to Lebanon Via the Arab Gas Pipeline - JOURNAL OF PETROLEUM TECHNOLOGY

September 23, 2021

Pat Davis Szymczak

Egypt says it is stopping gas supplies to the Egypt Liquefied Natural Gas (ELNG) export terminal at Idku near Alexandria immediately and that it will supply gas to the Damietta LNG plant only until year end as it prepares to redirect surplus gas exports to Lebanon via the Arab Gas Pipeline.

Jordan’s Ministry of Energy and Mineral Resources announced in early September it would deliver Egyptian gas to Lebanon after oil ministers of nations responsible for the Arab Gas Pipeline (Egypt, Jordan, Syria, and Lebanon) met in Amman to agree on a regional response to Lebanon’s ongoing fuel and electricity crisis, local media reported.

The English language news site Egypttoday.com quoted Egyptian Minister Tarek El Molla as saying, “Egypt is working to speed up coordination for delivering Egyptian natural gas to Lebanon through Jordan and Syria.”

Lebanon is in a state of economic collapse that the World Bank has called one of the worst on record, and, because it lacks foreign currency to pay for energy imports, the country was forced to switch off its two main power plants in July for lack of fuel, plunging the country into a near total blackout.

Mytilineos Group overtakes DEPA as major LNG importer in 2019 - KATHIMERINI

WEDNESDAY AUGUST 9, 2019

Private Greek industrial group Mytilineos has overtaken incumbent DEPA to become the country’s biggest LNG importer this year, the first time in history that an independent company has knocked the state-owned company from the top spot, ICIS an information platform on petrochemicals and specifically on energy issues, fertilisers and other commodities said in a report.

Mytilineos imported over 370,000 tonnes of LNG from January to July, or 39 percent of the national total supplies, according to LNG Edge. DEPA took 273,000 tonnes, or 29 percent.

DEPA’s market share was 92 percent last year, and has never previously fallen below 50 pct. The shift indicates the progress made in one of the last countries in the European Union to liberalize its gas market.

The market began opening back in 2005, but momentum picked up from 2018 when the retail market was fully liberalized, leaving consumers free to choose their supplier. DEPA has been losing customers ever since.

With demand from the electricity power sector as well as industrial needs in aluminium manufacturing, Mytilineos is at the forefront of the market.

Qatargas Ships 1st Q-Flex LNG Cargo to Greek Revithoussa Terminal - WORLD MARITIME NEWS

Qatargas Ships 1st Q-Flex LNG Cargo to Greek Revithoussa

July 23, 2019

Doha-based liquefied natural gas company Qatargas has delivered the first LNG cargo on a Q-Flex vessel to Greece’s Revithoussa LNG Terminal.

This is the first time that a Q-Flex LNG vessel has called at the terminal ever since it underwent an expansion drive late last year, Qatargas said.

The cargo, which was loaded at the Ras Laffan Terminal in Qatar on July 3, 2019, arrived at the Revithoussa Terminal on board the 216,224 cbm Al Gharrafa on July 20, 2019.

The Q-Flex cargo is part of a multi-port delivery executed by Qatargas. It is being undertaken in cooperation with the European utility Engie, which will see the second cargo being delivered at the Cartagena LNG terminal in Spain later this month.

“This significant delivery is aligned with Qatargas’ strategy to continue growing the ever increasing number of terminals that our Q-Flex and Q-Max vessels can deliver into,” Khalid bin Khalifa Al Thani, Chief Executive Officer of Qatargas, commented.

Toyota Tsusho looks to raise its investments in Egypt - DAILY NEWS EGYPT

4 MAY 2018
Nihal Samir

Minister of Petroleum and Mineral Resources Tarek El-Molla revealed in a press statement on Tuesday that he discussed with a delegation from Japan’s Toyota Tsusho Corporation the possibility of the company’s participation in a hydrocarbon cracking for diesel fuel project at an Assuit Oil Refining Company plant, which is to be implemented with investments worth $1.9bn.

The meeting also reviewed the situation of the integrated project for refining and petrochemicals, which is currently in the phase of study for implementation. Also, it reviewed the economic indicators and feedstock to reach the final feasibility study for the project.

El-Molla discussed with the delegation the investment opportunities available to increase the company’s investments in Egypt in the fields of refining and petrochemicals.

On the other hand, they discussed the executive status of an agreement which was signed in mid-April between the Egyptian Natural Gas Holding Co (EGAS), Ganoub El Wadi Petroleum Holding Company, and the Japanese company Toyota Tsusho to buy and own a new offshore drilling device with investments of $600m.

Exclusive - Italy's Edison launches spin-off of oil & gas unit: sources - REUTERS

APRIL 4, 2018 / 3:17 PM
Clara Denina, Ron Bousso

LONDON (Reuters) - Italian energy group Edison (EDNn.MI), part of French utility EDF (EDF.PA), is preparing the sale of its oil and gas unit, the latest power producer to abandon fossil fuels to focus on its retail business, four industry sources said.

Edison has selected investment banks Rothschild (ROTH.PA) and Perella Weinberg to organise an auction for the exploration and production division, which could be valued at $2 billion (1.43 billion pounds) to $3 billion, one of the sources said.

The company has been looking to increase the size of its domestic electricity and gas retail business, betting on the market opening up to more competition, with retail energy customers increasingly able to chose their supplier.

Edison and EDF declined to comment. Rothschild declined to comment. Perella Weinberg did not respond to a request for comment.

Egypt to import 3 LNG cargoes from France's Engie for Q2 2018 -sources - REUTERS

FEBRUARY 18, 2018 / 9:03 AM

Reporting by Ehab Farouk; Writing by Nadine Awadalla; Editing by Susan Fenton

CAIRO, Feb 18 (Reuters) - Egyptian Natural Gas Holding Company (EGAS) has arranged for the delivery of three liquefied natural gas (LNG) cargoes from France’s Engie in the second quarter of 2018, EGAS sources said on Sunday.

Trade sources told Reuters last month that Egypt was looking to import five cargoes of LNG at competitive pricing.

Two trade sources said the purchases were arranged through bilateral deals and not via a standard tender process.

Egypt plans to stop importing LNG by the end of the 2017/18 fiscal year ending in June as it speeds up production at recently discovered gas fields, the petroleum minister said in January. 

Total Acquires Engie’s Upstream LNG Business and Becomes the Second Largest Global LNG Player - BUSINESS WIRE

November 08, 2017 12:28 PM Eastern Standard Time

PARIS

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe. Additional payments of up to $ 550 million could be payable by Total in case of an improvement in the oil markets in the coming years.

“The acquisition of Engie’s upstream LNG business enables Total to accelerate the implementation of its strategy to integrate along the full gas value chain, in an LNG market growing strongly at 5% to 6% per year. The combination of these two complementary portfolios will allow the Group to manage an overall volume of around 40 million tonnes of LNG per year by 2020, making Total the second largest global player among the majors with a worldwide market share of 10%,” commented Patrick Pouyanné, Chairman & Chief Executive Officer of Total. “With the equity stake in the Cameron LNG project, Total will also become an integrated player in the US LNG market, where the Group is already a gas producer.”

Russian gas pipelines to go ahead despite U.S. sanctions - REUTERS

AUGUST 3, 2017 / 1:11 PM
Oksana Kobzeva, Alissa de Carbonnel

MOSCOW/BRUSSELS (Reuters) - New U.S. sanctions will make it harder for Russia to build two gas export pipelines to Europe but the projects are unlikely to be stopped.

U.S. President Donald Trump has reluctantly signed into law further sanctions on Russia but some of the measures are discretionary and most White House watchers believe he will not take action against Russia's energy infrastructure.

This would allow Gazprom's two big pipeline projects to go ahead, although at a higher price and with some delays.

The Kremlin, dependent on oil and gas revenues, sees the pipelines to Germany and Turkey - Nord Stream 2 and TurkStream - as crucial to increasing its market share in Europe.

It also fears that Western partners - needed to develop the deepwater, shale and Arctic gas deposits that will fill the pipelines - will be scared off by sanctions.

Shalakany advises Engie on E&P asset sale in Egypt - ENTERPRISE / SHALAKANY LAW

Monday, 15 May 2017

M&A Watch- Shalakany Law announced it assisted Engie as the sole sell side legal advisor in the transaction to sell its Egyptian E&P assets to Neptune Oil & Gas. Private equity-backed Neptune had agreed to acquire a majority stake in Engie’s E&P assets globally for USD 3.9 bn on Thursday, Reuters reported, with the expectation that the deal, which includes assets in Egypt, Algeria, Germany, and the North Sea will close in 1Q2018.

Aly El Shalakany, the lead partner from Shalakany acting on the transaction, said: “We are very pleased to have successfully assisted Engie, a long standing client of the firm, with this strategic disposal, which marks a key step in its shift away from oil and gas to more regulated businesses in the power sector.”

M&A Watch: PICO’s Cheiron acquires 50% stake in Sahara North Bahariya Ltd - ENTERPRISE/ AL BORSA

Wednesday, 10 May 2017

M&A WATCH- Our friends at PICO are on a tear this week: PICO Group subsidiary Cheiron Egypt acquired a 50% stake in Sahara North Bahariya Ltd for USD 83 mn from EFG Capital Partners Fund III, sources close to the matter told Al Borsa on Tuesday. Cheiron reached financial close on the transaction earlier this week after winning approval from the state’s Egyptian General Petroleum Corporation. Sahara North Bahariya owns the North Bahariya oil concession in the Western Desert. The news comes on the heels of news that Cheiron also acquired 100% of Engie’s West El Burullus gas concession earlier this week.

PICO’s Cheiron Egypt acquires West El Burullus gas concession from Engie - ENTERPRISE

Tuesday, 9 May 2017

PICO Group subsidiary Cheiron Egypt has acquired 100% of Engie’s West El Burullus (WEB) gas concession in a transaction announced yesterday. WEB is located in shallow offshore Mediterranean waters with recoverable reserves of c.200 bcf gas and 3 mn bbl of condensates. 

BNP Paribas, financial advisor on the transaction, said in an emailed statement that “WEB is targeting plateau production of 100 mcf/d with first gas in 2020.” The transaction, it said, supports Engie’s “global strategy to exit E&P sector and focus on renewable energies,” while PICO will diversify its “Egyptian E&P asset base into new geological basins with higher gas component. BNP Paribas invited more than 50 bidders to take part in the process, with more than 10 signing confidentiality agreements. The transaction value has not been released. PICO, which controls assets in Egypt, Romania and Mexico, is owned by the Diab family of Cairo.

Rosneft signs LNG deal with Egypt for 10 cargoes this year- MENAFN / GULF TIMES

21/03/2017

Russia's largest crude producer, Rosneft joined traders from Trafigura Group to Glencore in boosting liquefied natural gas deliveries to Egypt before the country restores domestic production.

Rosneft, which seeks to expand its international gas business, signed a contract to supply the north African nation with 10 LNG cargoes this year, Rosneft said yesterday by email. The deal, which followed a debut contract of three cargoes last year, will further strengthen the strategic partnership between Rosneft and Egypt, the company said.

Egypt said to seek LNG as BP, Eni gas flow to restore exports - WORLD OIL / BLOOMBERG

2/6/2017
SALMA EL WARDANY

CAIRO (Bloomberg) -- Egypt plans to import as many as 108 cargoes of liquefied natural gas this year as the country prepares to start producing at two gas fields and move closer to its goal of self-sufficiency and even exports by 2019.

The North African nation will import 100 to 108 LNG shipments this year, including 43 to 45 cargoes in government-to-government contracts from Oman, Russia’s Rosneft PJSC and France’s Engie SA, according to a person familiar with the matter. The remaining imports will be arranged through a tender to be announced in November, said the person, who asked not to be identified because the information isn’t public.

Imports may be reduced in 2018 as BP Plc’s North Alexandria concession works to start gas production in April and Eni SpA’s giant Zohr field plans to produce by the end of the year, the person said. BP bought a 10% stake in Zohr from Eni last year, giving it access to the largest discovery in the Mediterranean Sea amid a regional race for offshore oil and gas deposits.

Engie to build gas, electricity trading platform - DAILY SABAH

3 January 2017

The Global Energy Management (GEM) division of France's Engie, a multinational electric utility company, has revealed plans to establish a gas and electricity trading platform in Istanbul, through a written statement on Dec. 29.

The written statement read, "We have been rendering service in Turkey for more than 40 years. Neptune, one of Engie Group's Floating Liquefied Natural Gas (LNG) Storage and Gasification (FSRU) terminals, started to operate in İzmir's Etki LNG terminal as the first FSRU terminal in Turkey last week. Engie continues to actualize natural gas supply projects in line with the needs of the Turkish market."

Turkey's New FSRU LNG Terminal Complements Existing Land-Based Terminals - NATURAL GAS INTEL

December 27, 2016Joe Fisher

Turkey saw the inauguration of its first floating storage regasification unit (FSRU) liquefied natural gas (LNG) terminal last Friday.

The facility includes a jetty and onshore natural gas pipeline connecting regasified LNG from the unit to the neighboring pipeline grid. According to developer ENGIE and its Turkish construction partners, project development took 6.5 months from final investment decision to completion.

The ETKI LNG terminal was built by construction companies Kolin and Kalyon of Turkey. The facility is at Aliaga on the Aegean coast.

France's Engie E&P eyes more investments in Egypt's oil sector - AMWAL AL GHAD

Wednesday, 14 December 2016 14:57

Egyptian Oil Minister Tarek El-Molla met Wednesday with the CEO of France's Engie E&P International, Maria Moræus to discuss available investment opportunities.

Both sides showcased fields of mutual cooperation between Egyptian oil sector and the French company.

El-Molla stated that the Egyptian-French partnership in oil and gas field witnesses a continuous growth as pursuant to the distinguishable joint ties between two states.

3 gas shipments exported through Idku plant by Shell since September - DAILY NEWS EGYPT

14.12.2016, 02:00
Mohamed Adel

Supply from Burullus fields gradually being increased to 250m feet of gas

The Dutch oil company Shell has exported three liquefied gas shipments to international markets through its Idku plant for liquefaction since September, after it obtained 200m cubic feet of gas per day from production at the Burullus fields.

A senior source at the petroleum sector told Daily News Egypt that Shell targets to export liquefied gas shipments every 20 days according to Idku’s (EDCO) current supply rates.

Shell agreed with the Ministry of Petroleum on gradually increasing quantities specified for export to 250m cubic feet per day, to achieve a return that will help the company to repay loans due in instalments.

Egypt chases own energy sources as government struggle to meet demand - REUTERS

Sun Oct 23, 2016 | 10:43am EDTWriting by Eric Knecht, Editing by Lin Noueihed/Ruth Pitchford

By Ehab Farouk | CAIRO

Egypt will boost production of natural gas to 5 billion cubic feet per day in the 2017-2018 fiscal year as the giant Zohr field comes online, but will still also ramp up gas imports to feed a spike in consumption, Oil Minister Tarek El Molla said.

Once an energy exporter, Egypt has turned into a net importer in recent years, squeezed by declining production and increasing consumption. The shortfall and squeezed finances have forced the government to ration gas supplies to industry, with some plants unable to operate at full capacity as a result.

Egypt's Oil Ministry is racing to reverse that trend, speeding up the development of major gas discoveries with a stated goal of achieving energy self-sufficiency by 2020-21.

Shell in talks with government to increase natural gas supply - DAILY NEWS EGYPT

Shell is currently in talks with the government in order to increase exports, as the government seeks to increase supply to the domestic market

12.10.201, Nicholas Mehling

The Egyptian government is slowly moving closer to increasing the domestic energy supply and restarting liquefied natural gas (LNG) exports, as the government continues negotiations with Shell to raise the volume of gas sent to the Idku LNG plant. Shell confirmed reports that they are exploring options to increase domestic supply, but expressed doubts about Egypt’s export potential. Despite the short-term skepticism, Egypt’s long-term potential in becoming a major player in natural gas production may be a foregone conclusion.

Shell’s Middle East operations spokesperson Nureddin Wefati stated: “Shell’s Idku gas treatment and liquefaction facilities, whether subsea or onshore, provide an economic edge for Egypt. Due to known gas supply issues, we expect very limited cargoes to be lifted of Egyptian LNG. Shell is in ongoing talks with interested parties and continues to investigate options for increasing the supply of natural gas to the country.”

Egypt Sends Rare LNG Cargo in Midst of Newfound Buying Binge - BLOOMBERG

Anna Shiryaevskaya, Tsuyoshi Inajima, Dan Murtaugh
June 17, 2016

One of the world’s newest liquefied natural gas importers is again shipping out the fuel.
Egypt, which last year began importing LNG to meet domestic demand while halting shipments from two multibillion-dollar facilities that produce the fuel, this month sent out its second shipment this year. The Provalys loaded at the Ikdu terminal on June 3-4 and is headed to Japan, according to shipping data compiled by Bloomberg.