In First, Arab Countries Admit Israel Into a Regional Alliance. But There Is a Price - HAARETZ

Jan 17, 2019 2:05 PM
Ora Coren 

The announcement this week that many of the countries of the East Mediterranean, including Israel, agreed to set up a forum to create a regional gas market is a landmark development for Israel. It not only creates a framework for developing the region’s energy, but it marks the first time Israel has been admitted to a regional grouping that will give it official status in the Arab world.

The Eastern Mediterranean Gas Forum, announced on Monday after a meeting in Cairo, aims to “create a regional gas market that serves the interests of its members by ensuring supply and demand, optimizing resource development, rationalizing the cost of infrastructure, offering competitive prices and improving trade relations, among other goals,” Egypt’s Petroleum Ministry announced.

Besides Israel, the group includes Egypt, Cyprus, Greece, Italy, Jordan and the Palestinian Authority. The statement said that other Eastern Mediterranean countries may join the forum later, a hint that Lebanon may become a member.

Energean ready to take Gaza Marine gas field stake if Israel, Palestinians agree - REUTERS

JULY 6, 2018 / 1:10 PM
Shadia Nasralla

LONDON (Reuters) - Greek oil and gas company Energean (ENOG.L) is ready to buy and operate a 45 percent stake in the offshore gas field Gaza Marine as soon as both the Israeli and Palestinian authorities give their green light, its Chief Executive said.

The field has long been seen as an opportunity for the cash-strapped Palestinian Authority to join the eastern Mediterranean gas bonanza, providing a major source of income to reduce its reliance on foreign aid and Israeli energy.

But Palestinian political disputes and conflict with Israel, as well as economic factors, have delayed plans to develop the field.

Energean chief executive Mathios Rigas told Reuters late on Thursday that the company was ready to buy the gas field stake “if that is something the host governments approve”. “We have proven we can get gas flowing quickly,” he said.

Palestinians in talks with int'l co to develop Marine gas field - GLOBES

21 Jun, 2018 20:16
Amiram Barkat and Sonia Gorodeisky

The gas produced from the reservoir will be used to operate the power station in Gaza and another 450-megawatt power station to be built in Jenin.

Almost 20 years after it was discovered, the Palestinian Authority (PA) will try to develop the Gaza Marine natural gas reservoir located off the coast of the Gaza Strip by itself, sources inform "Globes." In the past, the PA asked Israel for the use of the state's gas transmission infrastructure, and the matter is currently being discussed. The sources add that the owners of the rights in the reservoir are negotiating with an international drilling operator to develop and operate the reservoir.

According to the plan, the gas produced from the reservoir will be used to operate the power station in the Gaza Strip and another 450-megawatt power station slated for construction in the Jenin area. In addition to local consumption, the Palestinians are trying to find customers for their gas in the region in order to reach a minimum amount of demand for gas that will justify development of the reservoir. Costs of developing gas reservoirs have recently fallen, thereby making it easier to carry out plans.

Shell relinquishes Gaza gas field rights - GLOBES

8 Mar, 2018 13:50
Sonia Gorodeisky

The Palestinian Authority is seeking a new partner to help it develop the Marine gas field.

Energy giant Royal Dutch Shell is relinquishing its rights to the Marine gas field off the coast of Gaza, "Reuters" reports. The undeveloped gas field contains an estimated 32 billion cubic meters of natural gas.

The Palestinian Authority now needs to find a new international group to develop and operate the field. Palestinian ministers say they are in the process of locating an alternative operator to Shell.

Shell owns 60% of the rights to the gas field with the Palestinian Authority owning the remaining 40%. British Gas (since acquired by Shell) discovered the field, 35 kilometers off the coast of Gaza, in 2000 but although it could have provided energy security for the Gaza Strip, the field has never been developed. The main reason for the failure to develop the field was the geopolitical problems in the region, which made it impossible for Shell to sign any export deals.

A Shell spokesman said: "We confirm we have been in discussions with various parties about the future of the Gaza Marine project. As of now, Shell continues to hold its equity in the Gaza Marine asset."

Shell's Gaza Gas Field Sale Hits Problems - HART ENERGY / REUTERS

Friday, January 12, 2018 - 12:20pm

It may prove to be Royal Dutch Shell Plc's (NYSE: RDS.A) hardest sell. The Anglo-Dutch group is struggling to find a buyer for its gas field off the Gaza Strip, even among energy companies long used to dealing with projects fraught with political and security risks.

At least one European company has shown interest in the undeveloped Gaza Marine Field following a reconciliation deal in October between the two rival Palestinian factions, a source involved in the talks said.

But the firm's discussions over the field, located about 30 km (20 miles) off the Gaza coast, have ground to a halt since tensions in the wider region have taken a fresh turn for the worse, the source told Reuters.

"Until the political situation is resolved I really can't see anything happening here," he said.

Gaza Marine has long been seen as a golden opportunity for the cash-strapped Palestinian Authority to join the Mediterranean gas bonanza, providing a major source of income to reduce its reliance on foreign aid.

A change of course - LNG INDUSTRY

Thursday, 09 February 2017 08:57
Richard Bass

A discussion held 10 years ago about East Mediterranean gas would have focused on Egypt. It would have concentrated specifically on the quantity of pipeline gas that Egypt could export regionally and the capability of its two LNG terminals to compete for customers in Europe, North America, and Asia. Fast forward to today, and any discussion of East Mediterranean gas would consider when Egypt will cease to be a significant LNG importer, as well as the prospects for gas exports from Israel and Cyprus. So how, in less than a decade, have the region’s circumstances changed so markedly? And what is the next decade going to look like?