Energy perspectives after Turkey's failed coup - NATURAL GAS EUROPE

July 16th, 2016

Turkey’s failed military coup mid-July raises a host of questions concerning the country’s stability, its investment climate and the future of gas deliveries to and though Turkey. It may also boost the prospects for a revival of the stalled Turkish Stream project to deliver Russian gas to Europe via Turkey.

For gas, there are two main issues to be considered: the security of the current and future import pipelines; and the possibility that the aftermath of the coup might prompt a re-think of future gas import projects.

Turkey relies massively on imported gas to meet its energy needs, with most coming via four major import pipelines: the 15bn m³/yr eastern Balkans line via Ukraine – a system which Russia has said it intends to close by the end of 2019; the 15bn m³/yr capacity Blue Stream pipeline across the Black Sea from Russia; the 6.6bn m³/yr Baku-Tbilisi-Erzurum (BTE) system from Azerbaijan; and the 10bn m³/yr capacity line that brings Iranian gas across the border at Dogubayezit.

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.

First Lebanon offshore round on horizon - OE OFFSHORE ENGINEER

Written by OE Staff Friday, 15 July 2016 03:24

Offshore exploration could soon be on the agenda in Lebanon after the country's Prime Minister Tamam Salam was asked to place what would be the first licensing round on the agenda of cabinet meetings as soon as possible.

The intention is to open up the offshore blocks to tender and ultimately award two or three blocks, depending on the quality of the offers which are received, says geoscience firm Spectrum.

The next step in re-starting Lebanon’s First Licensing Round is for the Lebanese government to approve two pending decrees, one delineating the Lebanese offshore area into 10 blocks and the second setting out the tender protocol and the model exploration and production agreement (EPA) to be signed between the government and successful bidders.

Will Israeli natural gas flow in Egypt’s pipelines? - DAILY NEWS EGYPT

A recent visit by Egypt’s Foreign Minister could signal potential cooperation between Israel and Egypt in the eastern Mediterranean gas fields. However, given domestic market needs mixed with a complicated history in Egypt-Israel business relations in the energy sector, the future remains unclear

Mohamed Samir, July 14, 2016

In a rare trip, Egypt’s Foreign Minister Sameh Shoukry paid Israel a visit on Sunday, marking Egypt’s first high-level official visit in almost a decade. While pundits antagonise whether this may be a sign of warmer relations between Israel and Egypt, the latter continues to face an ongoing energy crisis.

While Egypt’s energy crisis may be a domestic concern, a long history of cooperation between Israel and Egypt over gas imports and exports raises questions of whether such a topic was broached during conversations between Shoukry and the Israelis.

Petrobel to increase Nooros field production to 700 mcf/d in September - ENERGY EGYPT / ENTERPRISE.PRESS

July 14, 2016

The Nooros field production is expected to increase to 700 mcf/d following the completion of drilling by September, field general manager Hassan Fouad told Al Borsa.

The Nooros field is an important gas discovery owned by Eni and BP, and was drilled by Petrobel, a joint venture between Eni subsidiary IEOC and EGPC. Current Nooros production levels are at 300 mcf/d in additional to 3k bbl of condensates from four completed development wells, he added.

Egypt- Power plants' gas consumption rises to 3.4bn cubic feet a day: Petroleum Ministry - MENAFN / DAILY NEWS EGYPT

14/07/2016

In the past week, power plants' consumption of natural gas reached about 3.4bn cubic feet per day compared to 3.3bn cubic feet as a result of high temperatures.

A source at the Ministry of Petroleum told Daily News Egypt that the power plants receive 30,000 tonnes of fuel oil per day as well as 4,000 tonnes of diesel.

He said that gas imports through the two floating natural gas import terminals at Ain Sokhna Port and the Jordan gas line have increased to reach 1.3bn cubic feet per day, which is the maximum capacity for gas imports. The gas imports are made up of 1.2bn cubic feet coming from the terminals in Ain Sokhna and 100m cubic feet coming from the floating natural gas import terminal at Aqaba Port in Jordan.

Egypt- Shell's dues increase to $1.1bn in return for its share from El-Borollos, Rasheed gas fields - MENAFN / DAILY NEWS EGYPT

13/07/2016

(MENAFN - Daily News Egypt) The dues owed to British Gas (BG) and Dutch company Shell by the Ministry of Petroleum have increased to 1.1bn, compared to 1bn in April, in return for the partner's share in the produced gas from El-Borollos and Rasheed fields.

A source close to government negotiations said the government is taking the share of its partner, Shell, from the gas of El-Borollos and Rasheed, worth approximately 50m, but cannot pay all of it due to the US dollar crisis currently facing Egypt.

The source explained that the Ministry of Petroleum failed to fulfil its promise to its partner, which is to pay 400m from BG's dues in June 2016. The reasoning could be tied to the Central Bank of Egypt (CBE) not providing the amount following the decrease of the Egyptian pound against the price of the US dollar.

Israel's monopoly faces class action - NATURAL GAS EUROPE

July 12th, 2016

An Israeli District Court will decide in the next few days whether to approve a class action against the Israeli gas monopoly. The class action was submitted by two advocates, Gillad Barnea and Yitzhak Yaari, who are demanding that the gas monopoly repays NIS2.5bn ($640mn) for every year of gas supply to electricity customers because of exorbitant pricing of natural gas.

The class action was submitted in 2014. The plaintiffs argued that the partners exploited their monopolistic position to sell gas at two or three times the fair price and in doing so have broken the anti-trust law.

Reopening Libya oil ports is newly unified NOC’s ‘top’ priority - WORLD OIL

By SALMA EL WARDANY on 7/11/2016

TRIPOLI (Bloomberg) -- Libya’s state crude producer is seeking to reopen oil ports and restore crude output as the fractured OPEC nation struggles to reunite after five years of civil strife, according to its chairman.

Four ports accounting for about 860,000 bpd in crude exporting capacity have been shut due to political turmoil and fighting. Libya now produces a fraction of the 1.6 MMbopd that it pumped before the toppling of ruler Moammar Al Qaddafi in 2011. A July 2 deal uniting the National Oil Corp.’s rival administrations enables the company to focus on reviving Libya’s crippled oil industry, Chairman Sanalla Ibrahim said.

Zohr gas reserves increase to 32tn cubic feet: EGAS - DAILY NEWS EGYPT

July 11, 2016, Mohamed Adel 
Indicators for the second well revealed larger reserves; six wells to be drilled in total at a cost of $100m each
The primary indicators of Zohr field’s second well, developed by Italian company Eni, show an increase in gas reserves owing to the discovery of a gas-carrying layer that is larger than that found in the first well.

These results indicate an increase in production to 250m cubic feet per day compared to the initial test results of 150m cubic feet in the concession area of Egypt’s territorial waters in the Mediterranean Sea.

Turkish Stream: Still only a dream

July 11th, 2016

Russian President Vladimir Putin announced on June 30 that he and Turkish President Recep Tayyip Erdoğan had agreed to restore bilateral ties between their two countries. Russian Prime Minister Dmitry Medvedev followed the announcement with his own statement that economic sanctions against Turkey would be removed “on a gradual basis.”

Meanwhile, plans to build a natural gas pipeline—known as Turkish Stream—under the Black Sea to bypass Ukraine remain on hold. Russia halted negotiations on Turkish Stream after Turkey shot down a Russian jet on the Syrian border on November 24, 2015. The originally planned 1,100-kilometer pipeline would consist of four lines designed to transport sixty-three billion cubic meters (bcm) of natural gas annually. Sixteen bcm was destined for the Turkish domestic market, while the remaining forty-seven bcm was for the European market. Combined with the Nord Stream pipeline, Turkish Stream would have eliminated the need for Gazprom—Russia’s chief energy giant—to use Ukrainian pipelines to supply the European market.

Egyptian Foreign Minister in Israel to discuss gas exports - GLOBES

10/07/2016, 18:28
Nadav Shetreet

The visit by Sameh Shoukry is the first to Israel by an Egyptian foreign minister in nine years.

Egyptian Foreign Minister Sameh Shoukry is arriving today on a visit to Israel, ending a nine-year period without any visits to the country by the Egyptian foreign minister. Talks about natural gas exports to Egypt and regional cooperation in building joint infrastructure for gas exports to Asia or Europe are scheduled.

Letters of intent for exports of Israeli gas to Egypt have already been signed. One deal was to have made possible the expanded development of the Tamar gas reservoir, and the second to facilitate the development of the Leviathan reservoir, because Egypt was regarded as the anchor customer for Leviathan. Several changes in the regional gas sector, however, have changed the situation completely, including Egypt's improving situation, the low level of global gas prices (the partial recovery in global oil prices has not affected gas prices), and the acquisition of British Gas by Royal Dutch Shell.

Cyprus’ ever-changing gas policy - CYPRUS MAIL

Cyprus' existing oil storage terminal (VTTV)

July 10th, 2016 - by Angelos Anastasiou

When the Anastasiades government took office on March 1, 2013, one of the first things Energy Minister Giorgos Lakkotrypis did was announce a roadmap for the development of Cyprus’ natural gas reserves.

The development plan placed the signing of “long-term” contracts for the sale of liquefied natural gas in the second half of 2014, preliminary indications of quantities in reserves other than ‘Aphrodite’ (or ‘plot 12’) in 2014, and a “final investment decision” on the construction of a natural gas liquefaction terminal in Cyprus by the third quarter of 2015.

More than three years on, not one of the above boxes has been ticked.

Turkey-Israel pipeline: no approval from Cyprus - ENERGY GLOBAL

In order for the Turkish-Israel natural gas pipeline to cross through Cypriot territory, Turkey must mend its relationship with Cyrpus.

Recently, Turkey and Israel reached a rapprochement, which saw the end of a six year soured relationship. It is now hoped that Israel can agree to export natural gas from its offshore Mediterranean fields to Turkey.
Cyprus

It is believed that Cyprus, which has been split* into two parts (the Turkish-Cypriot enclave and the Greek-Cypriot internationally recognized, EU-member side), must first unite in order for the pipeline to be approved.

Petrobel lets Zohr pipeline, well contract - OIL & GAS JOURNAL

HOUSTON, July 7 2016
ByOGJ editors

Belayim Petroleum Corp. (Petrobel) has let an engineering, procurement, construction, and installation (EPCI) contract to Saipem for work in the accelerated development of Zohr natural gas field offshore Egypt (OGJ Online, June 20, 2016).

The contract covers installation of a 26-in. gas export trunkline and 14-in. and 8-in. service trunklines as well as EPCI work on six wells in water as deep as 1,700 m.

The work is to be completed in time for the start of production in 2017.

Petrobel, a joint venture of Eni SPA and Egyptian General Petroleum Corp., is developing Zohr on behalf of PetroShorouk, a joint venture of Egyptian Natural Gas Holding Co. and Eni.

Cyprus to look at importing LNG - CYPRUS MAIL

JULY 7TH, 2016 ELIAS HAZOU

The government has ordered a study to be carried out to look into ways of importing Liquefied Natural Gas (LNG) for power generation but also broadly for industrial purposes.

A source in DEFA confirmed to the Cyprus Mail a report appearing in Politis on Thursday.

“DEFA has received a mandate from our shareholder [the Energy Ministry] to carry out a study concerning the options for supply of natural gas in the form of LNG for the market,” the source said.

Libya to resume oil exports from biggest ports within a week - WORLD OIL

By HATEM MOHAREB on 7/7/2016

TRIPOLI (Bloomberg) -- Libya will resume crude exports from two of its biggest oil ports within one week after clashes that forced Islamic State militants to pull out of the area, according to the commander of the petroleum guards in the region.

Crude exports will resume from Es Sider, the country’s biggest oil port, and Ras Lanuf, the third-largest, and which have been closed since 2014, Ibrahim al-Jedran, a regional commander of Libya’s Petroleum Facilities Guard, said in a phone interview. The exports will be under the authority of the Tripoli-based Government of National Accord, which is seeking to reunify the divided country, he said.

Some “minor technical problems” related to the transportation network between the oil storage tanks and the Es Sider and Ras Lanuf oil ports due to damage, inflicted during clashes since last year, will be fixed within a few days, al-Jedran said.

Cyprus moves to block Israel-Turkey gas pipeline - INTERFAX

By Verity Ratcliffe, 7 July 2016 12:37 GMT

Israel and Turkey signed an agreement to normalise relations last week after a six-year diplomatic spat, raising hopes that Israeli gas could be exported to Turkey by pipeline. However, Cyprus has indicated it will block the construction of a Turkish pipeline that passes through its territory.

When asked about the project, Cypriot government spokesperson Nicos Christodoulides told reporters on Tuesday that Cyprus would oppose it because the country is under occupation by Turkish forces and the pipeline would serve Turkey.

The two parts of Cyprus would need to be unified for a pipeline to be approved, he added.

The island of Cyprus has been split into two parts – one consisting of Greek Cypriots and the [ethnically cleansed, formerly 90% majority Christian, 90% of properties owned by them] controlled by Turkish-Cypriots – since 1974, with the latter not recognised by the international community. The result is that the Republic of Cyprus does not have diplomatic relations with Turkey.

Saipem tapped for work in giant gas field offshore Egypt | UPI

Italian company lands more than a billion dollars in contracts, with the bulk going to Mediterranean work.

By Daniel J. Graeber, July 7, 2016 at 8:41 AM

MILAN, Italy, July 7 (UPI) -- One of the most significant parts of a package of deals worth more than $1.5 billion is for a contract tied to a gas field offshore Egypt, Italy's Saipem said.

Italian company Saipem secured a package of deals valued at $1.6 billion for engineering and construction at offshore projects, the most significant of which is for work associated with the Zohr natural gas field in the Mediterranean Sea.

"We are very pleased to have been selected for the important objective of delivering first gas from Zohr before the end of 2017," Saipem CEO Stefano Cao said in a statement.

Israeli energy company to accelerate development of Cypriot natural gas field - FAMAGUSTA GAZETTE / XINHUA

"We would like to accelerate this and move this project forward as soon as possible," said Friedman.

FAMAGUSTA GAZETTE•
Wednesday, 06 July, 2016

Israel's Delek energy group which owns one third of a Cypriot offshore natural gas field is working on plans to accelerate its development, a group official said on Tuesday.

Delek CEO Yaniv Friedman said after meeting Cypriot President Nicos Anastasiades that his company is committed to the cooperation between Cyprus and Israel and in developing a natural gas reserve known as Aphrodite.

"We would like to accelerate this and move this project forward as soon as possible," said Friedman.

Energy giants give assurances of commitment to Cyprus operations (Updated) - CYPRUS MAIL

Anastasiades, Cyprus with Descalzi, ENI

JULY 5TH, 2016 ELIAS HAZOU

Senior executives of two energy companies with hydrocarbons concessions in the island’s Exclusive Economic Zone (EEZ) gave assurances on Tuesday of their commitment to their Cypriot operations.

President Nicos Anastasiades held successive meetings in Nicosia with delegations of Israeli energy conglomerate Delek and then Italian giants ENI. Also present at the talks was Energy Minister Giorgos Lakkotrypis.

Delek are partners in the consortium which holds the concession on the Aphrodite prospect in offshore Block 12. The Israeli company have a 15 per cent working interest in the project, and are also partners – with Noble Energy – in Israel’s Leviathan gas field.

Noble Energy sells three percent interest in Tamar field, offshore Israel, for $369 million - NOBLE ENERGY

July 5, 2016

Houston, July 05, 2016 (GLOBE NEWSWIRE) -- Noble Energy, Inc. (NYSE: NBL) ("Noble Energy" or "the Company") today announced that it signed a definitive agreement to divest a 3 percent working interest in the Tamar field, offshore Israel, to the Harel Group ("Harel"), a leading insurance provider and pension manager in Israel, in partnership with Israel Infrastructure Fund ("IIF"), Israel's largest infrastructure private equity fund. The transaction value of $369 million is based upon a gross pre-tax Tamar valuation of approximately $12 billion and is subject to purchase price adjustments between January 1, 2016 and the closing date. Closing for the transaction is anticipated in the third quarter of 2016, subject to customary terms and conditions, with after-tax proceeds received expected to be approximately $275 million. Under terms of the agreement, Harel and IIF have the option to elect, before closing, to purchase an additional 1 percent working interest from Noble Energy at the same valuation.

Delek Group to drill Tamar-8 well offshore Israel - OIL & GAS JOURNAL

HOUSTON, July 5
07/05/2016
ByTayvis Dunnahoe
OGJ Exploration Editor


Delek Drilling LP and operator Noble Energy Mediterranean Ltd. have announced that the Tamar-8 development well will spud in this year’s fourth quarter with 4 months planned for drilling, completion, and tie back. The well is 100 km west of Haifa offshore Israel in 1,670 m of water. Tamar-8 will target Miocene Tamar sands and is planned for a total depth of 5,050 m.

The partnership looks to increase redundancy in the existing Tamar productions system, and Tamar-8 will serve as part of its Tamar expansion project. The partnership also is planning on development of Tamar SW field.

Israel’s Petroleum Commissioner of the Ministry of National Infrastructures, Energy and Water Resources (Ministry of Energy) approved the current development plan (OGJ Online, June 2, 2016).

Cyprus Blocks Israel-Turkey Gas Pipeline Untill Ankara Mends Ties - HAARETZ

Jul 05, 2016 6:40 PM
Michele Kambas

After a rapprochement is reached with Ankara, Israel hopes to export gas to Turkey across Cypriot waters. But Cyprus, that doesn't have diplomatic ties with Turkey, gives a red light.

REUTERS - Turkey needs to mend relations with Cyprus before the Cypriot government will allow a Turkish-Israel gas pipeline to cross its territory, a government spokesman said on Tuesday.

The remarks came a week after Israel and Turkey reached a rapprochement, ending a six-year diplomatic rupture and raising hopes that Israel can reach an agreement to export natural gas from its offshore Mediterranean fields to Turkey. But to reach Turkey a pipeline would have to traverse the territorial waters of Cyprus, which was split into [the internationally recognized Republic of Cyprus] and a Turkish enclave by a Turkish invasion in 1974.

New rival seen in Mediterranean gas race ‘before it’s too late’ - WORLD OIL / BLOOMBERG

7/5/2016
DONNA ABU-NASR

BEIRUT (Bloomberg) -- Lebanon may soon approve measures to push ahead with a stalled first auction of offshore oil and natural gas rights, ending years of political wrangling as it tries to catch up in a regional race to tap energy wealth in the eastern Mediterranean.

The auction first scheduled for November 2013 was frozen by the government’s failure to pass decrees to demarcate energy blocks, establish production-sharing contracts and specify tender protocols. Mohammad Kabbani, head of the parliamentary energy committee, said Monday that he expected the decrees to be approved “a short period” after the Muslim holidays of Eid al-Fitr this week.

Harel to pay up for Tamar stake | NATURAL GAS EUROPE

July 05th, 2016

A limited partnership, led by Harel Insurance Investments and Financial Services, said in a filing to the Tel Aviv Stock Exchange that it has concluded a deal to purchase 3% shareholding in Tamar Partnership from Noble Energy. Harel holds a 62% stake in the limited partnership directly and the rest, 38%, is held by Israel Infrastructure Fund of which Harel is a 30% shareholder.

Harel said it will pay $369mn for the 3%; and another $123mn if it exercises an option to purchase another 1%. Those numbers value Tamar at $12.3bn, more than 10% above previous evaluations.

Decision Regarding the Drilling of the "Tamar-8" Development and Production Well and the Construction of Related Infrastructures in the Tamar Field - DELEK GROUP

Tel Aviv, July 5, 2016. Delek Group (TASE: DLEKG, US ADR: DGRLY) ("the Company") hereby announces that further to the provisions of Section 1.7.4(d) of the Company's Periodic Report dated December 31, 2015, as published on March 31, 2016 (Reference no.: 2016-01-020628) ("the Periodic Report") about the planned work plan for the Tamar Project located in the area of the Tamar I/12 lease ("Tamar Project" and "Tamar Lease," respectively), the Tamar Project development plan ("the Development Plan") and development of the Tamar South-West reservoir ("Tamar SW"), the Company respectfully announces that Delek Drilling LP and Avner Oil and Gas Exploration LP (hereinafter jointly, "the Partnerships") reported that on June 30, 2016, the Tamar Partners, including the Partnerships, made a decision regarding the drilling of the "Tamar-8" development and production well and the construction of related infrastructures in the Tamar field ("Tamar-8 Well" or "the Well").

Below are additional details of the Well:

Private sector key to Israeli exports to Turkey: Damnus - NATURAL GAS EUROPE

July 04th, 2016

After the "win-win" agreement between Turkey and Israel, energy relations may take time to bear fruit, Nusret Comert, the chairman of Damnus Energy, told NGE. Comert, who has over 30 years of experience in the global gas industry, is an expert on relations in the eastern Mediterranean. He talked about the recent rapprochement between Israel and Turkey, as well as between Russia and Turkey.

“Israel gas may ship to Turkey in three years time, but steps need to be taken by private sector companies in both Israel and Turkey,” Comert said, who headed Shell Turkey over ten years. “The agreement between two countries will form the basis for expanding energy relations between the two countries. However, politicians will not waste more time with talking, which may postpone investment decisions as well as blurring the political environment,” Comert said.

EGAS drills fourth well in Egypt's giant Zohr gas field - ZAWYA

by Mahmoud Shaaban
03 July 2016

Egyptian Natural Gas Holding Company- EGAS finished drilling fourth well in Zohr gas field in Mediterranean Sea, Chairman Mohamed El Masry said Saturday.

EGAS is committed to the determined drilling schedule of the Italian oil company Eni, the head stated.

He added that finishing drilling works at the fourth well is set to accelerate Zohr gas field to start output in 2017 with capacity of around one billion cubic feet daily.

Chairman El Masry noted that drilling works at the fifth well will start immediately to finish drilling the sixth well of Zohr field whose potential capacity is estimated at 30 trillion cubic feet of gas.

INTO THE FRAY: Utterly Unconscionable - THE JEWISH PRESS

By: Dr. Martin Sherman
Published: July 3rd, 2016

The real reason for the rupture of relations with Turkey is not because of anything Israel has (or has not) done. It is a result of what Turkey has become.

Israelis have no conscience, no honor, no pride. Those who condemn Hitler day and night have surpassed Hitler in barbarism. – Turkish President Recep Tayyip Erdogan, (7/19/2014)

National honor is not just something people talk of on the street…It has strategic significance – Moshe (Bogey) Yaalon, Israel’s Deputy Prime Minister, (8/17/2011).

The recently announced reconciliation accord—or rather “deal” between Israel and Turkey—is utterly unconscionable—and incomprehensible. From an Israeli point of view, it is devoid of any logic on every imaginable level—national, ethical, security and even commercial—except perhaps in the immediate short-term.

Is Turkey the market for East Med gas? - IN CYPRUS / CYPRUS WEEKLY

Charles Ellinas — 02/07/2016

Last December, soon after the downing of the Russian jet, a flurry of diplomatic activity started that has now produced a positive result enabling Israel and Turkey to resume diplomatic relations. A key factor in this is the potential for Israel to supply Turkey with gas.

In a parallel, but related, development Turkey’s President Recep Tayyip Erdogan sent a letter of apology to Russia’s President Vladimir Putin for the shooting-down of the Russian jet, opening the way for rapprochement between the two countries. This too has energy implications.

Only a pipe dream - IN CYPRUS / CYPRUS WEEKLY

Annie Charalambous — 02/07/2016

Nicosia is not worried over speculation that a possible future pipeline transferring gas from Israel to Turkey could pass through Cyprus waters even without its consent.

“No, we are not concerned, this is not going to happen, we have the assurance of Israel and we also have legislation protecting Cyprus from such a possibility,” an insider told the Cyprus Weekly Thursday.

“UN provisions also give protection to Cyprus and let’s not forget that no serious energy company will go ahead with such an ambitious, incredibly costly project with legal inevitabilities pending.”

Nonetheless, analysts said this week that even though Israel has given assurances to Cyprus that rapprochement with Turkey will not affect Nicosia adversely; the pipeline project may be unstoppable.

Israeli gas may reach Turkey in three years, Israeli energy minister says - HURRIYET DAILY NEWS

July/01/2016
Merve Erdil - ISTANBUL

As Turkey and Israel move to restore their relationship after six years of strained ties, both sides are looking forward to the opportunity to transfer Israel’s natural gas to Turkey, a move which could happen as early as 2019, according to Israeli Energy and Natural Resources Minister Yuval Steinitz.

“I think that it is quite likely that Israel will export natural gas to Turkey. And maybe also in the future we will export natural gas to Europe through the Turkish gas transmission system that is now under construction. I think it is good for Turkey. It is good for Israel,” Steinitz told daily Hürriyet over the phone on June 29.

Turkey and Israel reached an agreement earlier this week that will allow the two countries to restore full diplomatic relations, which broke off in 2010 after Israeli forces raided a convoy of aid ships attempting to break the blockade of Gaza, killing nine Turkish activists.

Egypt may return to gas exports after super-giant Zohr discovery - WORLD OIL

Credit: McKinsey Energy Insights

By ANNA SHIRYAEVSKAYA on 6/30/2016

LONDON (Bloomberg) -- Egypt may resume natural gas exports thanks to major discoveries off its shores, according to Snam SpA, Europe’s biggest gas infrastructure company.

The findings are “very significant for North Africa” and especially Egypt, the most populous Arab nation, where demand for gas is rising for electricity generation, said Marco Alvera, the CEO of Milan-based Snam. Italian oil company Eni SpA called the super-giant Zohr field it discovered last year the largest in the Mediterranean. Eni and BP also made a “significant” find this year in the Nile Delta.

“Certainly Zohr is a game changer,” Alvera said in an interview at Bloomberg’s offices in London. “It allows Egypt to fulfill all its needs, which are great and significant,” as well as resume exports, he said.

Turkey starts repairing relations with Moscow - NATURAL GAS EUROPE

June 29th, 2016

A letter from Turkey's president, Recep Tayyip Erdogan, to his Russian counterpart Vladimir Putin, may help to restore relations between the two countries. They have been frosty since last November, after the Turkish air force shot down a Russian jet over Turkey's borders, killing the pilot.

The contents of the letter have not been made clear but the Turkish presidency stopped short of apologising – a key condition for ending hostilities – according to Erdogan's spokesman, Ibrahim Kalin. However, he said there was a sentence expressing sympathy for the relatives of Russian pilot.

From the other side, Putin's spokesman Dmitri Peskov reportedly said June 28 that Erdogan spoke of his deep regret for what happened and said he wanted to restore relations.

Egypt seeks third FSRU - NATURAL GAS AFRICA

June 29th, 2016

Egypt is reported to have launched a tender for a third floating LNG import terminal to meet anticipated growth in demand from power plants.

Daily News Egypt on June 26 quoted the petroleum minister, Tarek El-Molla, saying that a tender for the charter of a third floating storage and regasification unit (FSRU) would be issued this week; he told the news service that the vessel would have a regasification capacity of 750mn ft³/d.

Reuters on June 29 reported that the tender was launched June 28, with offers from companies due within two weeks, citing an official from state-run gas company Egas. NGA was unable to get confirmation direct from Egas or shipowners.

Gas execs see Israel-Turkey gas deal by 2017 - GLOBES

28/06/2016, 06:54
Hedy Cohen

Experts believe Jerusalem will export 8-10 BCM to Turkey annually by 2020; official negotiations will begin soon.

The rapprochement agreement between Israel and Turkey presented Monday – and expected to be signed Tuesday – will also likely lead to the signing of a gas export deal by the end of next year, according to executives in the Leviathan partnership. The partners revealed they have opened talks with a consortium of 15 Turkish energy companies which expressed interest in half of the available reservoir.

The gas could also flow on from Turkey to Europe – which no longer wishes to rely on Russian gas. Both Israeli and Turkish sources believe Europe will import 8-10 BCM annually starting in 2020.

Concerns over impact of Turkish-Israeli deal on Cyprus - CYPRUS MAIL

Israeli Prime Minister Benjamin Netanyahu and President Nicos
Anastasiades during the Israeli leader's visit in July 2015

JUNE 28TH, 2016 
ELIAS HAZOU

The normalisation of Turkish-Israeli political and diplomatic ties, possibly paving the way for lucrative Mediterranean gas deals, could impact Cyprus, although in what way is not yet clear, an energy analyst has told the Cyprus Mail.

In one way it could prompt Turkey to aid a settlement to the Cyprus issue. On the other hand, both countries could sideline Cyprus altogether.

Egypt to develop 5 new Oil and Gas fields from Q3 of 2017 to 2019 - ECOFIN AGENCY

Monday, 27 June 2016 - 07:32

(Ecofin Agency) - The Government of Egypt has put measures in place to commence the development of five new oil and gas fields from Q3 of 2017 till 2019.

The five fields are Taurus, Libra, Giza, Fayoum, and Raven, an official source revealed.

According to this source, the Q3 of 2017 will also see BP restarting all the production and developmental activities in the North Alexandria oil field, which has been stagnant since 2011 as a result of Egypt’s political and economic situations.

Zorlu Enerji, Turcas Petrol shares jump following Turkey, Israel signing deal - DAILY SABAH

Zorlu Group’s third energy facility in Israel is the 120-megawatt
Ramat Negev natural gas power plant (start.ops on Dec 31, 2015)

June 27, 2016

Following an agreement signed over the weekend between Turkey and Israel regarding the normalization of bilateral relations, the shares of Zorlu Enerji, carrying out business operations in Israel, and Turcas Petrol, interested in purchasing natural gas from Israel, saw considerable rises on Borsa Istanbul, increasing by 11.9 percent to TL 1.91 ($0.65) per share and by 2.11 percent to TL 1.45 per share, respectively.

Turkish and Israeli delegations met in Rome over the weekend to finalize the reconciliation deal between the two countries, and after six years of diplomatic struggle, Ankara succeeded in receiving an apology from Israeli Prime Minister Benjamin Netanyahu, compensation for the Mavi Marmara raid victims and the lifting of the Gaza blockade. As Turkey-Israel relations were officially normalized with this agreement, investors set their eyes on Zorlu Enerji and Turcas Petrol, both of which have business ties in Israel.

Ministry of Petroleum negotiates supply of 12 LNG shipments with foreign companies - DAILY NEWS EGYPT

Two additional shipments will be imported monthly during H2 of 2016, says El Molla.

Mohamed Adel, 27-6-2016

The Ministry of Petroleum and Mineral Resources is negotiating with foreign companies to cover the domestic market’s fuel needs. The ministry previously signed contracts with these companies to import 12 additional shipments of liquefied natural gas (LNG) in July by the end of 2016.

Minister of Petroleum and Mineral Resources Tarek El Molla told Daily News Egypt that they are negotiating with the companies to supply two additional shipments of LNG monthly during the second half of 2016.

Gazprom open for dialogue with Turkey on Turkish Stream gas pipeline project - TASS

Headquarters of Gazprom© AP Photo/Alexander Zemlianichenko

June 27, 18:56 UTC+3

Turkish President Recep Tayyip Erdogan has offered his apologies to Russian President Vladimir Putin for the death of the pilot of the downed Russian plane

MOSCOW, June 27. /TASS/. Russia’s top gas producer Gazprom is ready for a dialogue on a potential resumption of the Turkish Stream gas pipeline project, the company’s official representative Sergey Kupriyanov told TASS Monday.

"Gazprom is and has always been open for a dialogue on the Turkish Stream," he said when commenting reports on potential rebuilding of relations with Turkey.

Shell plans drilling of 33 wells in BAPETCO concessions in 2016/2017 - 4-TRADERS / ENERGY EGYPT

June 26, 2016

Dutch company Shell targets drilling 33 wells in its concession areas that are operated by Badr El Din Petroleum Company (BAPETCO) during the next fiscal year (FY).

The plan includes 19 wells to develop gas production, 10 wells to inject water into, and 4 wells to explore for gas.

A senior source in the petroleum sector told Daily News Egypt that Shell has reduced the number of wells to explore for gas in its concession areas to four wells in its plan for FY 2016/2017, compared to seven wells during the current FY 2015/2016.

Shell drilled 25 developmental wells, 7 exploratory wells in its concession areas through BAPETCO during the current FY, and tied the production upon completing the drilling process according to the approved plan, he explained.

Israel's Harel in talks with Noble to buy stake in Tamar gas field - REUTERS

Sun Jun 26, 2016 2:58am EDT

Israel's Harel Insurance Investments and Financial Services (HARL.TA) said on Sunday it is in talks to buy up to 4 percent in the Tamar natural gas field from Texas-based Noble Energy (NBL.N).

Tamar was discovered in the eastern Mediterranean in 2009 with reserves of 10 trillion cubic feet. It began production in 2013 and is now Israel's primary gas supply.

A final agreement has yet to be reached, Harel said in a statement to the Tel Aviv Stock Exchange, and any deal would require regulatory approval.

Noble was not commenting, said a spokeswoman in Israel.

Can natural gas pay for a solution? - IN CYPRUS / CYPRUS WEEKLY

25/06/2016

Cyprus gas funding a peace deal was a hot topic with statements and counter-statements by the President, the Foreign Minister and many others, such as:

Studies in progress to fund settlement from proceeds from natural gas Natural gas to contribute to the funding of the cost of settlement;

Cyprus FM says gas could partly fund reunification;

Government denies Foreign Minister statements on gas;

President: We will not use natural gas to pay others’ obligations;

President: A minor part from the natural gas proceeds could be used to fund the solution, The President confirms in all respects that the Foreign Minister statements are in-line with government thinking;

Israeli Natural Gas Industry – Where do we go now? - OILFIELD TECHNOLOGY

Partners Shiri Shaham and Simon Weintraub at Israeli law firm Yigal Arnon & Co. explore the natural gas industry in Israel.

After years of deliberations, negotiations and amendments, the Israeli government recently adopted its final framework for the regulation of the burgeoning natural gas sector. This exciting development is a reflection of the country’s vibrant democracy, strong rule of law, and climate of regulatory certainty; it will hopefully foster geopolitical stability in the eastern Mediterranean basin, and will potentially promote economic co-development projects and unprecedented investment opportunities in the region.

Lebanon Gets Seismic As Israel Prepares To Develop Massive Gas Field - OILPRICE.com

By Charles Kennedy - Jun 24, 2016, 12:41 PM CDT

Seismic surveys now show that Lebanon’s portion of the prolific Levant Basin is showing promising oil and gas reserves, as the country lags far behind Israel in tapping into this Mediterranean hydrocarbon wealth.

After years of delay, Lebanon’s petroleum authority has finally obtained seismic surveys—tasked as far back as 2002—showing that oil reservoirs in the southern region, particularly in Blocks 8 and 9, could have significant potential.

East Med project feasible, IGI Poseidon chief tells conference - ENERGY PRESS

23/06/2016

Elio Ruggeri, CEO of IGI Poseidon, has stressed the importance for southeast Europe of the East Med pipeline, a project to link Greece with major natural gas deposits in Cypriot and Israeli territorial waters, in a speech delivered at an Economist conference in Athens.

Ruggeri noted that the IGI Poseidon consortium is contributing to the effort to develop a natural gas corridor of multiple uses in the wider region, which will include Russian gas, the most important aspect.

“We are making an effort with Gazprom and, by the end of the year, will know whether the idea will lead to some sort of initiative,” Ruggeri remarked.