Energean to supply natural gas worth over $1b. to Alon Tavor power plant - THE JERUSALEM POST

NOVEMBER 21, 2019 17:46 

EYTAN HALON

British-Greek oil and gas producer Energean will supply natural gas worth more than $1 billion to Israel’s Alon Tavor power plant over the next 15 years, the company said on Thursday.

Under an agreement signed with Chinese-Israeli company MRC Alon Tavor Power, the owners of the plant near Afula, Energean will supply approximately 0.5 billion cubic meters (bcm) of natural gas per year, or up to 8 bcm over the term of the contract.

“Energean is pleased to be the supplier of natural gas to the Alon Tavor power plant, which is of strategic importance for Israel’s energy and electricity market,” said Energean CEO Mathios Rigas. “The agreement signed today represents a first step toward a long-term collaboration – and joins a long list of natural gas supply agreements from the Karish reservoir to the Israeli market as soon as 2021.”

Supply will commence with the first gas extracted from the Karish gas reservoir offshore Israel, owned and operated by Energean.

Energean signs additional Gas Sales and Purchase Agreement for Karish and Tanin - ENERGEAN OIL & GAS

London, 2 January 2019

Cyprus missing out on a good gas deal, expert says - CYPRUS MAIL

October 16, 2018

Elias Hazou

Greek oil and gas company Energean, which has offered to pipe gas to Cyprus from its Israeli offshore leases at a highly competitive price, has responded to the energy minister who said the company does not have an export permit from the Israeli government and that therefore its proposal is invalid.

In a press release last Friday, Energean Oil & Gas Plc said it has submitted to the government a proposal “to supply Cyprus with natural gas as of the first quarter of 2021, without the investment cost burdening Cypriot taxpayers, and at a particularly competitive price”.

It added: “The company respects and complies with regulations and the regulatory framework in each country where it operates and, evidently, we have confirmed our capability to supply Cyprus with natural gas on the basis of the already-submitted offer.”

Energean was responding to energy minister, Giorgos Lakkotrypis, who a day earlier appeared to dismiss outright the company’s offer.

Egypt sends Jordan natgas samples three months ahead of supply resumption - ENTERPRISE

Thursday, 27 September 2018

Egypt has delivered to Jordan samples of the natural gas it will export by January 2019, Jordan’s Energy Minister Hala Zawati said, according to Petra. 

Oil Minister Tarek El Molla and El Zawati had signed last month a natural gas sale and purchase agreement under which Egypt will supply 250 mcf/d of gas to Jordan. 

This quantity will cover 10% of the country’s gas needs to generate electricity and will restore Egyptian exports of gas to Jordan to pre-2009 levels.

Jordan, Egypt ink agreement on gas supply resumption - ENTERPRISE

Sunday, 12 August 2018

Oil Minister Tarek El Molla and his Jordanian counterpart Hala Zawati renewed a natural gas sale and purchase agreement, under which Cairo will export 10% of Amman’s natural gas needs, Jordan Times reports. 

Both sides reportedly signed the initial agreement in 2014 but Egypt failed to meet the amount of natural gas it was agreed to provide. 

“Egypt provided Jordan with 250 mcf of natural gas daily since 2004, but these amounts started decreasing at the end of 2009 until they were completely halted in 2011 after attacks on the Arab Gas Pipeline,” the Jordanian energy minister said. 

Zawati also met with Electricity Minister Mohamed Shaker over cooperation on electricity connection and exchange, as well as exchanging expertise in the fields of energy and renewable energy, according to a ministry statement.

Natural Gas From Israel to Jordan in 2020 - ALBAWABA

July 6, 2018 - 07:30 GMT

Work is under way to construct a pipeline to transfer $10 billion worth of natural gas from Israel into Jordan, with supplies expected to begin in 2020, said a government official.

Contractors are currently working on building a 65-kilometre pipeline that stretches from the Kingdom’s borders with Israel in the north to Mafraq Governorate.

The pipeline, once completed, will be connected to the gas pipeline in Mafraq, and gas will later be distributed to the country's power plants for generation of electricity, Abdel Fattah Daradkeh, director general of the National Electric Power Company (NEPCO), told The Jordan Times in an interview this week.

“The pipeline will be completed by the end of 2019 and we were informed by Noble Energy that gas will start flowing to Jordan in early 2020,” the official added.

Work is also ongoing to build a pipeline on the Israeli side to transfer the gas to Jordan, he added.

Jordan is Key Player in Israel's Energy Equation in Region - ALBAWABA NEWS

May 17th, 2018 - 18:00 GMT

Jordan is a key player in Israel's energy equation in the region as it could either make or break the Jordan-Israeli gas sales and purchase agreement that is vital to Israel's success as a regional energy player, according to the director of hydrocarbons at the Paris-based Mediterranean Energy Observatory (OME).

In September 2016, U.S.' Noble Energy, the operator of Israel's Leviathan gas field, signed a gas sales and purchase agreement with Jordan's National Electric Power Company Ltd. (NEPCO) to sell approximately three billion cubic meters of natural gas over a 15-year term.

"If Jordan cancels the gas deal signed with Israel following Israel's brutality in the Gaza Strip, there is no place for its gas to go, therefore, Israel can suffer huge losses in terms of energy income," Director Sohbet Karbuz told Anadolu Agency in an exclusive interview.

The deal in September 2016 was agreed despite widespread disapproval in Jordan for the purchase of Israel's energy. The past two years saw a number of popular demonstrations in Jordan's capital Amman against the proposed import of gas from the Jewish state.

Karbuz explained that Jordan is the most important market that these companies rely on to recover the billions of dollars of investments that these companies have made.

Energean cleared of Karish-Tanin legal hassle - UPSTREAM ONLINE

3 May 2018 07:44 GMTAnamaria Deduleasa

Greek independent Energean Oil & Gas has been cleared of a legal hassle involving the approval of its Karish and Tanin gas field development off Israel.

Athens-based Energean said on Thursday that the petition filed by Hof Hacarmel – a regional council located in the northern Israeli coastal plain - has been dismissed by the Israeli Supreme Court.

Hof Hacarmel filed the petition against the Israeli Ministry of Energy, the Petroleum Commissioner, two planning and construction authorities, Energean’s local subsidiary in Israel and an environmental union of local authorities, in connection with the project, trying to stop its development.

Energean's field development plan for the project was approved by the Israeli authorities in August last year. Since then, the company approved the $1.6 billion final investment decision to proceed with the development, having secured finance and equity funding for the project.

Energean Signs Additional Gas Sales and Purchase Agreements for Natural Gas Supply from the Karish and Tanin Fields - BUSINESS WIRE

October 30, 2017 09:41 AM Eastern Daylight Time

LONDON--(BUSINESS WIRE)--Energean Oil & Gas (“Energean” or “the Company”) is pleased to announce that Energean Israel has signed three new Gas Sales and Purchase Agreements (“GSPAs”) with Dorad Energy Ltd. ("Dorad"), and with Ramat Negev Energy Ltd. ("Ramat Negev") and Ashdod Energy Ltd. ("Ashdod"), both subsidiaries of the Edeltech Group, for natural gas supply from the Karish and Tanin Fields, offshore Israel.

“The GSPA’s signed today enable the diversification of natural gas supply sources for local projects and contribute to the companies' business strategies.”

Dorad to buy Karish, Tanin gas for $500m - GLOBES

2 Aug, 2017 17:23
Amiram Barkat

Tanin, Karish owner Energean now has more than half the contracts needed to development the Israeli gas fields.

The board of directors of the Dorad power station, headed by chairman Erez Halfon, today approved the signing of a document of principles for the purchase of natural gas from the Karish and Tanin reservoirs, owned by Energean. 5.5 BCM of natural gas will be supplied over 14 years under the deal.

Market sources estimated the total value of the deal at over $500 million. The terms of the deal reflect an average price of $4 per heating unit, the lowest price in such deals in recent years. Supply in the deal is slated to begin in the fourth quarter of 2020, when gas from Karish and Tanin is expected to begin flowing.

Jordanians really don't want Israel’s gas - AL MONITOR

March 29, 2017

Mohammad Ersan; translated by Pascale el-Khoury

AMMAN, Jordan — Voices opposed to a gas sales and purchase agreement (GSPA) signed in September between Jordan’s National Electric Power Company and the operator of an Israeli gas field got louder March 20 when the Jordanian parliament obtained a copy of the agreement, whose details had been kept secret. Those against the contract are calling on the parliament to reject it. 

Houston-based Noble Energy holds the concession for developing Israel’s largest offshore gas deposit, the Leviathan natural gas field, 50 miles off the coast of Haifa in the Mediterranean. The agreement, expected to enter into force in 2019, has sparked demonstrations because many Jordanians view it as tantamount to normalization with Israel. According to the GSPA, Jordan will import 300 million cubic feet of gas per day from the Leviathan field for 15 years at a cost of $10 billion. Noble has a nearly 40% working interest in the field, while Israeli companies hold the rest.

Why Has Noble Energy Been in the News Recently? - MARKET REALIST

By Keisha Bandz | Dec 2, 2016 5:58 pm EST

What Is Noble Energy’s Outlook for 2017 and Beyond? 

Noble Energy’s long-term outlook
On November 16, 2016, Noble Energy (NBL) provided its long-term outlook from 2016–2020. It also provided an update on its US onshore operations.

The company’s November 16 press release noted that the outlook “includes a forward base plan utilizing $50 per barrel WTI and Brent and $3 per thousand cubic feet Henry Hub natural gas for 2017, with modest oil price acceleration through 2020. An upside plan is also provided which adds $10 per barrel in commodity price to all periods.”

Leviathan partners sign $2 bln Israeli power plant natgas deal - REUTERS

Thu Dec 1, 2016 | 2:55am EST Reporting by Steven Scheer

The partners in the Leviathan natural gas field off Israel's coast said on Thursday they signed a deal worth about $2 billion to supply gas to Dalia Power Engines.

Under the deal, Dalia -- the largest private power plant in Israel -- will receive 8.8 billion cubic meters of gas for up to 20 years once production starts.

Israel: a bright spot for Noble - NATURAL GAS WORLD

November 03rd, 2016, 9:20am

Ya'acov Zalel

Noble Energy recorded a net loss of $144mn in Q3, halving its Q3 2015 loss of $286mn. The company's most profitable region was Israel, where the company recorded revenues of $150mn and income before taxes of $135mn. That compares to $647mn revenues from operations in the US and a loss before taxes of $407mn.

Noble reported record sales in Israel following the decision by the energy ministry to accelerate the use of natural gas for power generation by 15% from 2015 to 2016.

Noble sold 310mn ft³/d in Israel, an increase of 2.3%. The average gas price in Israel was $5.22/mn Btu while in the US the average price was $2.38/mn Btu.

Unwanted: The $10 Billion Gas Deal With Israel That Jordan Needs - BLOOMBERG

October 27, 2016 — 2:01 AM EEST
Donna Abu-Nasr

• Regular street protests held to condemn import agreement
• Jordan shows there’s still resistance to closer economic ties

For one hour every Sunday, Alaa Wishah and his family sit at home in the dark.

The pharmacist in Jordan’s capital of Amman isn’t trying to save money. Wishah, his wife and their three children are joining the protest against a $10 billion energy import agreement with Israel that has revived old animosities in this part of the world.

"Even if the alternatives are harder and more expensive, we don’t want to get gas from the Zionist entity," said Wishah, 40. "It’s not theirs; it belongs to the Palestinians."

Atwood Advantage starts Tamar Drilling - NATURAL GAS WORLD

October 26th, 2016 8:45amYa'acov Zalel

The drilling ship Atwood Advantage has arrived at Israeli waters has started drilling in Tamar, 100 km offshore. It is the first drilling ship in Israeli waters in three years and its first assignment is the Tamar 8 well which will supply gas to the Israeli domestic market. The drilling is expected to last four months and the investment is estimated at $265mn. When the drilling is completed the vessel might move over to drill Leviathan 5.

However, Leviathan is still awaiting the final investment decision (FID). It has only one big customer, the Jordanian national power company Nepco, which signed a long-term contract to purchase up to 3bn m³/yr for 15 years. Noble Energy, Leviathan's operator said a FID is expected by the end of the year. Experts said that in order to get a positive FID the partners need such agreements to exceed 6bn m³/yr.

Noble Energy executes Leviathan gas sales contract with the National Electric Power Company of Jordan - NOBLE ENERGY

September 26, 2016

Houston, Sept. 26, 2016 (GLOBE NEWSWIRE) -- Noble Energy, Inc. (NYSE: NBL) ("Noble Energy" or "the Company") today announced the execution of a gas sales and purchase agreement (GSPA) to supply natural gas from the Leviathan field to the National Electric Power Company Ltd. (NEPCO) ofJordan for consumption in power production facilities. Under terms of the GSPA, Noble Energy and the Leviathan partners will supply a gross quantity of approximately 1.6 trillion cubic feet (Tcf) of natural gas from the Leviathan field, or 300 million cubic feet per day (MMcf/d) over a 15-year term. The buyer has an option to purchase an incremental 50 MMcf/d for a total of up to 350 MMcf/d.

Natural gas supplied under this agreement will include industry-typical take-or-pay commitments, with pricing linked to Brent oil and a firm floor price. Gross contract revenues are estimated to be approximately $10 billion.