‘Goal is to sell first Cyprus gas in 2028’ - CYPRUS MAIL

Tuesday 19 May
Tom Cleaver

Cabinet on Tuesday approved the development and production plan for the Kronos gas field, which is located in Block 6 of Cyprus’ Exclusive Economic Zone (EEZ), with President Nikos Christodoulides stressing the importance of the plan’s approval ahead of the day’s cabinet meeting.

“Let me remind you that the first discovery in the Republic of Cyprus’ Exclusive Economic Zone was in 2011, and 15 years later, we are taking, I believe, the most important decision regarding the state of natural gas exploitation,” he said.

He added that in addition to the development and production plan, cabinet would also approve “the agreements concerning the basic terms of sale of Cypriot natural gas”.

“This is a very important development for the utilisation of our country’s energy resources. The goal is to sell the first Cypriot natural gas to Europe through Egypt in 2028 and we are approving all the relevant agreements,” he said.

Egypt announces settling of claims over restarted Damietta LNG plant - REUTERS

WED MAR 10, 2021 / 2:48 AM EST

(Reuters) - Egypt's petroleum ministry announced on Wednesday a series of agreements settling all claims between Egypt, Egyptian National Gas Holding Company (EGAS), Union Fenosa Gas and the Spanish Egyptian Gas Company (SEGAS), ensuring resumption of production at the Damietta LNG liquefaction plant.

Last month, Egypt's petroleum minister had announced the restarting of the plant, which is 50% owned by Eni, a key step in the country's plans to promote itself as an energy hub in the eastern Mediterranean.

Eni to restart Egypt’s Damietta LNG plant operations - OIL REVIEW MIDDLE EAST

Sunday, 01 March 2020 04:30

Supermajor Eni has announced that Egypt’s Damietta LNG plant is expected to resume operations by June following a series of agreements with its partners in Egypt

The liquefaction plant’s owner is the company SEGAS, which is 40 per cent owned by Eni through Union Fenosa Gas (50 per cent Eni and 50 per cent Naturgy). The plant has a capacity of 7.56 bcm per year, but has been idle since November 2012.

The agreements provide for the amicable resolution of the pending disputes of Union Fenosa Gas and SEGAS with EGAS and ARE, and the subsequent corporate restructuring of Union Fenosa Gas, whose assets will be divided between the shareholders Eni and Naturgy.

Delek: Talks with Union Fenosa continue - GLOBES

19 Dec, 2016 15:39
Nati Yefet

Delek has rubbished an Egyptian media report that UFG's partner ENI, instead of the Tamar partners, will export gas to the Al Shorouk liquefaction plant.

Delek Group Ltd's. (TASE: DLEKG) natural gas exploration and production units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) issued a clarification this morning, that talks continue with Union Fenosa Group (UFG) which co-owns a gas liquefaction plant in Egypt together with Italian company ENI. This clarification follows a report in Egypt's Daily News website that ENI, which owns 60% of the Al-Shorouk gas field (TEKMOR Note: Zohr field in the Shorouk concession, Rosneft 30%, BP 10%), is to lay a pipeline to the liquefaction facility and export 8.2 BCM of gas. The report would apparently undermine the possibility that the Tamar partners would export gas to the liquefaction facility.

The announcement said that the report in their 2015 annual statement about the signing of a binding letter of intent (LOI) on gas exports to the liquefaction facility, is still valid, and talks between the parties continue. "As for the media reports, the partners seek to clarify that contrary to the implications of these reports, and following clarifications received from UFG, the parties continue with ongoing negotiations aimed at reaching a binding agreement for natural gas supply from the Tamar project to UFG's existing liquefaction facilities in Egypt."

Eni agrees to export part of Shorouk concession - DAILY NEWS EGYPT

17.12.2016
Mohamed Adel

Arbitration case worth $8bn will be waived as soon as exporting begins

The Italian gas company Eni has agreed with the Egyptian government to export part of the gas produced from Zohr field in the Shorouk concession in the Mediterranean to international markets through the Damietta liquefaction plant. Eni owned 25% of the liquefaction plant, before having bought 50% of Unión Fenosa, boosting its stake in the plant to 50%.

Government sources told Daily News Egypt that Eni will establish a land pipeline from the Zohr treatment plant to the Damietta liquefaction plant.

Sources explained that the company sold 40% of its shares to British Petroleum (BP) and the Russian Rosneft, to participate in securing investment for the project, which is estimated at $12bn, up to $16bn by 2020.

All quiet on Egypt’s LNG export front until after 2020 - INTERFAX

A jetty at Egypt’s Idku LNG plant (BG Group)

By Rachel Williamson, 15 July 2016 9:26 GMT

Industry sources from inside and outside Egypt are confident the country can resume exporting LNG by the end of the decade. However, they have warned that the number of cargoes shipped from Idku will not rise out of single digits per year before then.

A source from Egypt’s Ministry of Energy, who wished to remain anonymous, said he expected LNG exports to resume after 2020.

He said occasional cargoes – such as the two sent this year from the only Idku train that remains operational – would continue, but they would not be regular.

Egypt LNG arbitration 'not over', says Spain's UFG - NATURAL GAS EUROPE

The Damietta liquefaction plant in Egypt (Image credit: Union Fenosa Gas)

June 16th, 2016

Union Fenosa Gas (UFG), owned 50-50 by Spain’s Gas Natural Fenosa and Italy’s Eni, has challenged reports that Egypt’s state gas company EGAS has “won” a case at the International Court of Arbitration in Paris.

Egypt’s petroleum ministry was quoted by Reuters on June 14 as saying that EGAS will not have to pay $270mn plus interest to owners of the Damietta liquefaction plant in relation to a complaint that they lodged in 2013 with the International Chamber of Commerce (ICC), which runs the Paris-based arbitration court. The $270mn plus interest covered contracted capacity at the plant. Egyptian state newspaper Al Ahram also carried the report.