Egypt approaches self-sufficiency - NGW MAGAZINE

September 11th, 201611:45am, Charles Ellinas

Egypt has attracted large and small producers, thanks to higher well-head prices and favourable geology. Its ultimate goal is not only self-sufficiency but a surplus for exports.

Egypt’s gas demand is 52bn m³/yr and is expected to continue rising and may reach 65-70bn m³/yr over the next ten years. A combination of a switch to renewables, lower subsidies, higher gas prices and an awareness campaign by the Egyptian government about more efficient energy use may help stem the rampant increase in demand. But even with these, without new gas coming online the gas deficit of 7bn m³/yr in 2015 will carry on growing.

Can Cyprus become a regional energy hub? - CYPRUS MAIL

SEPTEMBER 11TH, 2016
By Constantinos Hadjistassou

Frequently we hear of Cyprus’ aspiration to become a regional energy hub. Turkey flirts more prominently with the idea while Egypt more recently voiced serious interest. Considering the economic importance of energy hubs not only for the host country but to the world’s economy, it is instructive to explore what an energy hub is and what it takes to establish one.

To begin with, energy hubs are divided into oil hubs or natural gas hubs. They are important for a host of reasons, namely, the financial benefits from trading activities, employment opportunities for maintaining storage and transportation facilities, geopolitical leverage, access to petroleum supplies and value adding activities such as refining crude oil or raw materials for petrochemicals and the technical know-how possessed by oil companies and contractors.

Greece Backs Implementation of Southern Gas Corridor Project - Russian Minister - SPUTNIK NEWS

10.09.2016

Greece supports the implementation and development of the Southern Gas Corridor project, Russian Energy Minister Alexander Novak said on Saturday, after the talks with Greek Minister of Environment and Energy Panagiotis Skourletis.

THESSALONIKI (Sputnik) — The Southern Gas Corridor is expected to extend to over 2,000 miles, carrying natural gas from the Caspian Sea across Azerbaijan and Georgia into Turkey and on through Greece and Albania into southern Italy. The project is backed by the United States and the European Commission, and is considered by them as a competitor to the Turkish Stream project.

Erdogan’s Delusions of Energy Grandeur: Why Turkey Will Not Achieve “Energy Hub” Status - HIPPO READS / HUFFINGTON POST

Constantinos Papalucas

With Erdogan’s democratic countercoup enforcing temporary order and the recent rapprochement with Russia and Israel, Turkey’s expected next step is to focus on its long-standing aspiration: to become a regional energy hub in the Eastern Mediterranean (East-Med). The US-Turkey negotiations for the conditional use of Incirlik Airbase by NATO forces, ongoing since 2003, and the recent EU-Turkey deal on migration have both reaffirmed that Erdogan’s Turkey would not miss an opportunity to extract political rents from the West and monetize its geographic monopoly with morally ambiguous political demands. Erdogan’s interpretation of a Turkish energy hub, coupled with Western inertia, has even allowed Islamic State to “enjoy Turkish money for oil for a very, very long period of time.” [1] But is a Turkish energy hub a realistic target that would help the West diversify its energy imports, or is it just another Trojan horse amplifying Western dependency on countries that use energy as a weapon?

Egypt positions itself at the center of a new energy market - NATURAL GAS EUROPE / STRATFOR

September 09th, 2016

A string of sizable natural gas discoveries has been made in the eastern Mediterranean Sea over the past decade, and Egypt is working to ensure that it reaps the benefits. On Aug. 31, Cairo signed a preliminary deal with Cyprus to build an underwater pipeline linking Cyprus' Aphrodite natural gas field with the Egyptian coastline. If the project overcomes the considerable hurdles that still lie in its path, including uncertain funding, the pipeline could be operational by 2020, enabling Cyprus to finally begin producing from its largest known natural gas deposit.

Jordan, Cyprus agree to expand cooperation at ‘milestone’ summit - JORDAN TIMES

His Majesty King Abdullah meets with Cypriot President Nicos
Anastasiades in Nicosia on Thursday (Photo courtesy of Royal Court)

By JT - Sep 09,2016 - Last updated at Sep 09,2016

AMMAN — His Majesty King Abdullah on Thursday discussed bilateral relations and regional developments with Cypriot President Nicos Anastasiades in Nicosia, according to a Royal Court statement.

The two leaders discussed the outcomes of Anastasiades' visit to Jordan in November last year and the outcomes of the Jordanian-Cypriot Business Forum the Kingdom hosted in the same month.

In statements at the expanded meeting session, His Majesty said that Jordan seeks deeper relations with Cyprus, especially in the fields of trade, investment, energy, technology and tourism.

Snam: First Azerbaijani gas will reach Italy in 2020 - NEWS.AZ

Thu 08 September 2016 17:34 GMT | 20:34 Local Time

The first Azerbaijani gas through Trans-Adriatic Pipeline (TAP) will reach Italian market in January 2020, Chief Executive Officer at Snam Marco Alverà said.

According to Report, Alvera said during the construction of TAP, 231 olive trees in the area of Puglia will be relocated: "Initially 231, and then 1 700 olive trees will be relocated. Southern Gas Corridor worth 50 bln USD is of strategic importance for us.

Cyprus and Egypt sign gas pipeline agreement - PIPELINES INTERNATIONAL

SEPTEMBER 8, 2016

A preliminary agreement has been reached between Cyprus and Egypt for the construction of a subsea pipeline between the two countries.

The proposed pipeline will transport natural gas from Cyprus to Egypt, where it will enter the nation grid or be transferred to LNG facilities.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla said the deal was mutually beneficial for both countries.

He said the agreement would continue to unlock and promote the potential of the Eastern Mediterranean, boosting Egypt’s position as a regional energy hub.

Lloyd’s advising Cyprus on upstream offshore gas matters - OFFSHORE MAGAZINE

09/07/2016
Offshore staff

LONDON – Cyprus’ national oil and gas company, Cyprus Hydrocarbons Co. (CHC), has appointed Lloyd’s Register as independent commercial advisor for its commercial exploitation of hydrocarbons in the exclusive economic zone (EEZ) of the Republic of Cyprus.

Phil Edwards, consulting director of Lloyd’s Register’s energy business, said: “Our work includes a number of activities such as assisting CHC in realizing its options and strategies for successful development of the EEZ, and crucially assisting in hydrocarbon sale discussions and agreements with upstream operators and partners active in the Cyprus EEZ.”

The three-year contract, with extension options, started last month.

New gas field could rival biggest in region, says Israel - THE TIMES

Gregg Carlstrom, Tel Aviv

September 7 2016, 12:00am, The Times

Israel has discovered major new reserves of natural gas off its Mediterranean coast, the energy ministry has told investors in London.

Officials compared the new find to the Zohr field, the largest in the region, discovered last year in Egypt. Data about the new deposit, called Jonah, is still preliminary however; Israel will auction exploration licences in November to conduct a more thorough investigation.

The discovery could further reshape Israel’s fast-changing role in world energy markets. A long-time importer, the country has recently become a major player in the natural gas industry, with large fields that could produce $270 billion…

If Israel Has to Rely on Turkey to Buy Its Gas, We Have a Problem - HAARETZ

The great Turkish hope has wilted into a stagnant economy ruled by an authoritarian leader, and nobody else is lining up for Israel's gas.

David Rosenberg, Haaretz ContributorSep 07, 2016 7:30 PM 

No one can fault Energy Minster Yuval Steinitz for the enthusiasm he radiates about Israel’s energy prospects.

If the estimate of 75 trillion cubic feet he has been giving for Israel’s gas reserves in the Mediterranean Sea is true, it puts Israel in the same league at energy giants like Norway and Canada. He envisions Israel turning into a top supplier of gas to Europe. And, he has declared the regulatory turmoil that halted new exploration and production for four years to be over .

Quicktake Q&A: Israel’s Geopolitical Quandary on Exporting Gas - BLOOMBERG

David Wainer, Yaacov Benmeleh

September 7, 2016 — 12:00 AM EEST

Israel has paved the way to sign multi-billion dollar contracts for exports from its Leviathan gas field. Government officials and the companies developing the reservoir typically speak about two main options for exports: Egypt and Turkey. Both scenarios carry geopolitical risks in a region fraught with them.

1. When will Israel start exporting gas?
Israeli company Delek Group Ltd. and its U.S. partner, Noble Energy Inc., have begun development work on Leviathan, a natural-gas field discovered in 2010 in the Mediterranean Sea off Israel’s coast. The goal is to start exporting gas by 2019. In the first stage, the partners want to pipe the majority of 12 billion cubic meters of gas annually to Israel, Jordan and the Palestinian Authority. The rest could go to Egypt’s domestic market through existing infrastructure. A later stage could involve a pipeline to a regional neighbor for a cost of $1.5 billion or more. 

Shell Finds Massive Pocket of Natural Gas in Western Egypt - LABORATORY EQUIPMENT

Wed, 09/07/2016 - 9:54 Seth Augenstein - Digital Reporter

Royal Dutch Shell has discovered a big pocket of natural gas in the western deserts of Egypt.

The fuel source deep under the concession area of north Alam El-Shawish is estimated to contain about 500 billion cubic feet of gas or more, according to a corporate statement to Reuters.

The find could produce up to 15 percent of the overall production of Badr el-Din Petroleum, a company jointly operated by the state and Shell.

Turkey-Israel deal set to start a Middle East gas bonanza - MIDDLE EAST EYE

Aurangzeb Qureshi
Tuesday 6 September 2016 12:04 UTC

Putting past troubles behind them, both Turkey and Israel see this as the deal of the century as the Leviathan gas field comes on tap

With Turkey and Israel about to restart diplomatic relations after a six-year hiatus, it would be remiss to not mention the role of natural gas in the deal.

In 2010, Israel discovered the Leviathan gas field – a mammoth discovery of 16 trillion cubic feet of natural gas worth $95 billion on its shore. The discovery has since been caught up in regulatory hurdles until June of this year. The reversal in Israel’s natural gas fortunes has naturally caught Turkey’s attention.

Egypt: The Eastern Mediterranean's Next Natural Gas Hub? - STRATFOR

SEPTEMBER 5, 2016 | 13:00 GMT

Forecast

• The eastern Mediterranean will attract great interest from international oil and natural gas companies over the next decade.
• Egypt, hoping to take advantage of that interest, will try to position itself as the region's energy hub.
• Though Egyptian President Abdel Fattah al-Sisi has made energy reform a priority, other policy goals may slow his progress.

Analysis

A string of sizable natural gas discoveries has been made in the eastern Mediterranean Sea over the past decade, and Egypt is working to ensure that it reaps the benefits. On Aug. 31, Cairo signed a preliminary deal with Cyprus to build an underwater pipeline linking Cyprus' Aphrodite gas field with the Egyptian coastline. If the project overcomes the considerable hurdles that still lie in its path, including uncertain funding, the pipeline could be operational by 2020, enabling Cyprus to finally begin producing from its largest known natural gas deposit.

Hudson Institute releases report on Israel and energy independence in the Eastern Mediterranean - YOUR OIL & GAS NEWS / HUDSON INSTITUTE

Monday, Sep 05, 2016

Hudson Institute released a report examining Israel's regional energy security, based on conclusions by the Commission on the Eastern Mediterranean. The report was developed in conjunction with the University of Haifa, and summarizes the conclusions reached by a consortium of senior Israeli and American military officers, policy practitioners and scholars.

The report examines Israel's energy policies in relation to recent geopolitical developments affecting the Middle East since the Arab Spring, from destabilization caused by Islamic extremism to discoveries of large offshore energy reserves in the Eastern Mediterranean. Members of the commission gathered in Israel and Washington, D.C. in 2016 to discuss Israel's energy environment, security problems and opportunities in the region and the future of the US-Israel strategic partnership.

Gas production grows to 4.17 bcf/d, maturity decline lowest since 2012 - ENTERPRISE

Monday, 5 September 2016

Egypt’s natural gas production rate has increased to 4.17 bcf /d as of last week, while the daily decline in the maturity of gas fields reached its lowest point since in 2012, an unnamed source from EGAS told Al Borsa. 140 mcf/d of gas from Eni’s Nooros field among other fields was the main driver for this improved performance, the source noted.

Kuwait Energy starts production from Egypt's Al-Jahra SE-1X oil well - KUWAIT NEWS AGENCY (KUNA)

05/09/2016 

By Osama Jalal

KUWAI, Sept 5 (KUNA) -- Kuwait Energy plc (Kuwait Energy) announced on Monday the commencement of production from the Al-Jahra SE-1X exploration well in the Abu Sennan concession located in Egypt's Western Desert.

After discovery of the well on 27 July 2016, Kuwait Energy obtained the development lease from the Egyptian Petroleum Corporation (EGPC) for Al-Jahra SE-1X on 24 August and commenced production a day later, at an initial rate of 460 barrels of oil per day (bopd).

The well is producing at a 2" inch choke size and production has stabilized to a daily average rate of 410 bopd, Sara Akbar, CEO of Kuwait Energy told KUNA.

Weekly Overview: Caspian Sailaway; East-West politics and the East Med - NATURAL GAS EUROPE

September 05th, 2016 - William Powell

The sailaway of the first Shah Deniz jacket on time on September 1 from its Caspian Sea shipyard was marked by a quayside ceremony involving the Azerbaijan president, Ilham Aliev, and BP country boss Ewan Drummond. The $40bn-odd Caspian Sea-southern Italy project will, when complete, be an immense feat of commercial, political and mechanical engineering, whose timing could not have been more precarious, given the falling market now foreseen for early next decade; and that is only half the battle as the southern gas corridor is designed to carry another 16bn m³/yr westwards across Turkey.

Israel seeks to lure big oil and gas groups for rights auction - FINANCIAL TIMES

September 4, 2016 12:22 pm
By Andrew Ward, Energy Editor

Israel says some of the world's biggest oil and gas companies have expressed interest in its forthcoming auction of exploration rights as the country attempts to restore confidence among investors after years of regulatory uncertainty.

Yuval Steinitz, Israel’s energy minister, will hold talks with potential Asian investors in Singapore this week after meetings in London last week.

Bids are due in November for 24 blocks being opened for drilling off the Israeli coast.

The roadshow represents an attempted relaunch of Israel’s natural gas resources among overseas investors after delays to the $6.5bn Leviathan offshore project led by Noble Energy of the US and Delek of Israel.

Azeri SOCAR says wants Greek natural grid purchase concluded - REUTERS

Sat Sep 3, 2016 4:41pm GMT

ATHENS, Sept 3 (Reuters) - Azerbaijan's state energy company SOCAR wants to go ahead with a deal to buy Greek natural gas pipelines operator DESFA and has not taken any decision to pull out of the process, its chief executive in Greece said in a newspaper interview published on Saturday.

SOCAR agreed in 2013 to buy a 66 percent stake in the crisis-hit gas supply grid operator for 400 million euros ($448 million). But the acquisition has stalled since SOCAR was ordered to sell on 17 percent of DESFA to a third party to satisfy the EU competition authorities.

Complicating the sale further, Greece passed a law in July which raised DESFA's gas tariffs from next year by a much lower amount than expected, a move which SOCAR said has dramatically reduced DESFA's value and put the deal at risk.

Russia Pushing Ahead With Turkey Gas Link as Ties Improve - BLOOMBERG

Elena Mazneva
September 3, 2016 — 1:47 PM EEST

• Russia seeks to build Black Sea gas route to bypass Ukraine
• Government sent draft gas pipeline agreement to Turkey

Russia is on track to accomplish a major energy project aimed at cementing its ties with Turkey following a recent thaw in relations.

The government in Moscow expects officials in Ankara to make necessary decisions in one to two months to proceed with a natural gas pipeline under the Black Sea that may kick off by end-2019, Russian Energy Minister Alexander Novak said on Saturday. A draft intergovernmental agreement has been sent to Turkey, he told reporters in the Russian Far Eastern city of Vladivostok.

Cyprus, Egypt and Greece are already planning to expand energy cooperation - NEW EUROPE

Egypt's El Molla (left) & Cyprus' Lakkotrypis, 31 August 2016

SEPTEMBER 2, 2016
By Kostis Geropoulos

Cyprus has signed a deal to build a pipeline to supply Egypt with natural gas once production starts from the Aphrodite field located offshore the Mediterranean island.

The agreement sets the political framework for additional commercial agreements, Cyprus’ Energy Minister Yiorgos Lakkotrypis and Egypt’s Petroleum Minister Tarek el-Molla said.

Asked if this gas will also be exported to Europe and other markets, Constantinos Filis, director of research at Institute of International Relations, told New Europe this depends on the agreements that will be made by the Consortium that will take over.

Eni successfully drilled and tested Zohr 5x - ENI

Eni successfully drilled Zohr 5x, the fifth well on Zohr structure, which confirmed the potential of the field at 30 Tcf OGIP.

01/09/2016 14:30

San Donato Milanese, 1st September 2016. Eni informs that Zohr 5x, the fifth well on Zohr structure has been successfully drilled to the final TD of 14,271 ft (4,350 m). The Zohr 5x well is located in 1,538 m of water depth and 12 Km south west from the discovery well Zohr 1x.

The well proved the presence of a carbonatic reservoir and gas accumulation also in the South-Western part of the Zohr mega-structure encountering about 590 ft (180 metres) of continuous hydrocarbon column in the carbonate sequence with excellent reservoir characteristics. The results are confirming the potential of the Zohr Field at 30 Tcf OGIP.

Israel Courts Foreign Money in Effort to Become Gas Exporter - NEW YORK TIMES

SEPT. 1, 2016
STANLEY REED

LONDON — Israel’s energy minister laid on the charm as he spoke to a few dozen oil executives, contractors and analysts in a crowded hotel conference room about the country’s natural gas prospects.

He crowed that the country could one day be a top supplier to Europe, while explaining how multinationals in other industries were already enamored of Israel.

“It is not enough to have a lot of potential,” said the minister, Yuval Steinitz, who was kicking off a road show for energy investors on Thursday at the Copthorne Tara Hotel in London. “From now on it is my job to make Israel very attractive for new exploration, for new investments, for newcomers.”

Exploitation of 'Aphrodite' field needs to be sped up - SIGMA LIVE

01.09.2016 15:02

Cyprus’ Energy Minister and the heads of Noble, Shell, and Delek have agreed that the best method of exploiting the natural gas cooperation in the ‘Aphrodite’ field in the island’s exclusive economic zone needs to be found, after a meeting on Thursday.

Energy Minister Yiorgos Lakkotrypis said after a meeting the three CEOs had with the President and himself that block 12, where ‘Aphrodite’ is located, had been discussed and the new face of the consortium after BG was bought out by Shell.

Lakkotrypis has mentioned that this visit was the first time that the CEO and the President have met.

Delek Group Weighs Markets for $4 Billion IPO (Video) - BLOOMBERG

8:04 AM EEST
September 1, 2016

Delek Group, the Israeli energy company controlled by billionaire Isaac Tshuva, is considering New York, London or Amsterdam for an initial public offering of its stake in the Tamar natural gas field valued at $3 billion to $4 billion, according to people with knowledge of the matter. Bloomberg's Elliott Gotkine reports on "Bloomberg Markets Middle East." Watch the 2 minute VIDEO. 
(Source: Bloomberg)

Shell announces new natural gas discoveries in Egypt's Western Desert - REUTERS / ZAWYA

31 August, 2016

CAIRO, Aug 31 (Reuters) - Royal Dutch Shell announced on Wednesday new natural gas discoveries in a concession area of north Alam El-Shawish in Egypt's western desert.

The initial quantities discovered were estimated at about half a trillion cubic feet of gas with more possible reserves, Eden Murphy, chairman and CEO of Shell said in a statement.

The discovery could produce from 10 to 15 percent of the total production of Badr el-Din Petroleum company, which is a joint venture acting on behalf of the state-owned Egyptian General Petroleum Corporation (EGPC) and Shell in production operations, Murphy added.

Funding lapses blamed for Libyan output woes - OIL & GAS JOURNAL

HOUSTON, Aug. 31
08/31/2016
By OGJ editors

Libya’s reconstituted government is receiving blame for failure of oil production to recover from a slump caused by civil war and for the related loss of income.

The Petroleum Facilities Guard said it will close Gulf and Al Wafa oil fields in southern Libya because it hasn’t been paid for security services, Reuters reported.

The group earlier reached an agreement with the Presidency Council to open the Ras Lanuf, Es Sidra, and Zuetina terminals, but Reuters said the facilities remain closed (OGJ Online, Aug. 1, 2016).

The security force had claimed to be blockading the terminals to resist corruption and illicit oil sales. As part of the agreement to reopen the ports, it was to receive funds said to be overdue salary payments.

Cyprus signs deal with Egypt for gas transfers via pipeline - REUTERS

Lakkotrypis, Cyprus (left), El Molla, Egypt (right) 31.8.2016

Wed Aug 31, 2016 2:27am EDT

Aug 31 Cyprus signed a deal on Wednesday for the transfer of natural gas via pipeline to Egypt, once extraction starts of discoveries made off the Mediterranean island.

U.S. energy firm Noble found an estimated 4.5 trillion cubic feet of natural gas in one prospect off Cyprus in late 2011.

A consortium of Italy's ENI and Korea's KoGas have a contract with Cyprus for exploration over three offshore blocks. French oil major Total has exploration rights over one block.

Wednesday's accord was signed in the Cypriot capital Nicosia by Egyptian petroleum minister Tarek El Molla and Cypriot energy minister Yiorgios Lakkotrypis.

Spanish energy giant seeks to accelerate Tamar natural gas deal - ISRAEL HAYOM

Tuesday August 30, 2016

• Union Fenosa Gas is considering expediting its negotiations with the companies controlling Israeli offshore gas field
• If successful, gas will be piped to Spain through Egypt
• Deal requires upward of $1.5 billion investment by Tamar partnership.

Hezi Sternlicht, News Agencies and Israel Hayom Staff

Spanish energy giant Union Fenosa Gas is said to be considering accelerating its negotiations with the Tamar partnership as well as boost the gas quantities included in the deal, the Bloomberg news agency reported Monday.

Newcomer Energean will attract other int’l firms to explore for gas in Israel - JERUSALEM POST

By SHARON UDASIN
08/30/2016 20:38

Latest find and ongoing projects accelerating development in the entire region.
The expected purchase of the Karish and Tanin gas reservoirs by the Greek oil and gas company Energean will be a catalyst for other international companies interested in exploring Israel’s Mediterranean, a source linked to the project told The Jerusalem Post on Tuesday.

Energean’s entrance into the Israeli gas industry “opens the sector,” the source said. “The signal to the market is given: there’s something going on in Israel. You used to have a monopoly. Now you have a potential market.”

Although still pending Israeli government approval, the $148.5 million deal was signed by Athens-based Energean Oil & Gas in mid-August to purchase the gas reservoirs from two Delek Group subsidiaries, as well as pay the Israeli companies royalties from future gas and condensate sales. The likely sale of Karish and Tanin marked a first concrete step toward advancing Israel’s gas industry, following recent approval of the contentious “gas outline” that rattled the sector for all of 2015.

Major oil firms interested in Eastern Med gas - UPI / THE ARAB WEEKLY

Aug. 29, 2016 at 10:07 AM
Walid Khadduri

BEIRUT, Lebanon -- Major international oil companies have submitted bids to participate in Cy­prus' third licensing round for three southern offshore blocks adjacent to Egypt's northern waters.

The three Cypriot licensing rounds have encountered a number of challenges. Turkey's threats to operating firms overshadowed the first licensing round. It threatened to boycott IOCs operating in Cypriot waters. It did not allow the IOCs to take crude oil from Turkish ports. The IOCs were also not allowed to distribute petroleum products in the Turkish market. Turkey has boycotted Eni but the Italian firm challenged the decision in court and the dispute is being adjudicated.

Israeli powergen to burn more gas

August 29th, 2016, 3:45amYa'acov Zalel

Israel's energy minister, Yuval Steinitz has ordered the closure of four coal-fired power generation units and their replacement with two new natural gas-fired combined-cycle power generation units. He announced his decision following a public campaign to shut down the 40-yr old units that are part of Orot Rabin, the biggest power generation plant in Israel, near Hadera, north of Tel Aviv.

As part of his decision, Steinitz cancelled an NIS 8bn ($2bn) scheme to install smoke scrubbers in coal-fired units. The plants will however be maintained as back-up generators for the grid.

Gas deal with Egypt - IN-CYPRUS / CYPRUS WEEKLY

August 28, 2016

Egypt and Cyprus are expected to sign the first of three bilateral agreements on natural gas when Egypt’s energy minister Tarek El Molla visits the island on Wednesday.

It’s a move that will lay down the legal framework for companies to be able to sign contracts on exporting natural gas from the Cyprus Aphrodite field in Block 12 to Egypt.

“This is a bilateral agreement, one of three, which are necessary to create the conditions for the commercial agreement that is going to come from the companies and is under negotiation as we speak,” Energy Minister Yiorgos Lakkotrypis told the Cyprus Weekly.
The other two bilateral agreements under discussion involve cross-boundary pipelines and host agreements between the companies and each of the two governments.

Eni to raise Noras field production to 1bn feet of gas a day in 2017 - DAILY NEWS EGYPT

Increase comes alongside efforts to offset natural rate of decline, says source  

Mohamed Adel August 28, 2016

Italian energy company Eni aims to increase the Noras field production to 1bn cubic feet of gas a day at the beginning of 2017, instead of 700m feet in the current year.

A source in the petroleum sector told Daily News Egypt that drilling the development wells showed that Noras’ output will be even more gas than the initially-detected potential production of 700m cubic feet of gas a day.

He explained that 180m cubic feet gas a day from three wells in Noras will be linked to the national gas grid by mid-September, boosting the total output to 700m feet.

New finds could bring hope for LNG - IN-CYPRUS / CYPRUS WEEKLY

August 28, 2016

By Lefteris Adilinis and Fiona Mullen

The prospect of a land-based liquefied natural gas (LNG) plant could be back on the table if Total finds significant quantities of gas when it drills in Block 11 next year or if the new licensing round comes up with large discoveries, according to energy minister Yiorgos Lakkotrypis.

An LNG plant is not in the government’s current plans and the environment for LNG is currently difficult, with global companies cutting back production. At the same time, however, construction costs have been coming down because of steel prices.
“A lot will depend on the size of the discovery: how big it is, what the prices would be at the time, what other conditions there are,” the minister told the Cyprus Weekly.

When asked what production options would be possible if there were a very big discovery, Lakkotrypis said: “it could make LNG viable too”.

Egypt's game-changing energy deals - ARABIAN BUSINESS

Egypt’s Petroleum Ministry expects to attract $8.5bn in foreign
investments in energy research and development in 2016-17.

By Jason Rosychuk
Saturday, 27 August 2016 12:23 AM

The Egyptian government’s landmark oil and gas deals with five global oil majors has been pegged as a turning point for emerging markets hydrocarbons. Amid the publicity and excitement, will these contracts be a game changer for global oil players and for indigenous energy supply in the Middle Eastern country?

While news of the new contracts does not necessarily signal an oil market turnaround, it does demonstrate a renewed appetite for exploration in emerging markets, particularly for those in which established infrastructure exists.

ENERGY: Greece, Cyprus, Israel electricity highway takes shape - FINANCIAL MIRROR

26 August, 2016

Stages 1 and 2 to cost EUR 3.5 bln, fully funded by EuroAsia Interconnector
The biggest investment in Cyprus is finally taking shape as the final and comprehensive investment dossier has been submitted in Nicosia for the first electricity interconnection license that will provide a secure and stable supply of energy between Israel, Cyprus and Greece.

The project, promoted by the EuroAsia Interconnector in cooperation with the national utilities of the three countries, will also end the energy isolation of these ‘island’ states, that although are part of the regional and global economies, have remained detached from continental electricity grids. 

Record income for Tamar Partnership - NATURAL GAS EUROPE

August 25th, 2016, 9:30amYa'acov Zalel 
The Tamar partnership ended the first six months of 2016 with new production and financial records. It reported production of 4.5 bn m³, up 0.7 bn m³ or 18.4% from the year before and 214,000 barrels of condensate up 36,000 for the period. However, because of slightly lower average gas prices in the Israeli market, revenues and income gains lagged behind the production increase.

Total revenues for the first six months totalled $792mn, up $95mn or 13.6%. The average natural gas price was down 4% at $5.17/mn Btu. Revenues from gas were at $789mn and the rest, about $10mn, were from condensate. Helping was an instruction by the energy ministry to replace 15% of the coal used in power generation with gas. Operational expenses fell by 13.7% to $67mn or 8.4% of the revenues. Combined income before taxes for all four partners was $427mn, up $46mn from the first half of 2015.

Energy Minister's meeting with Egyptian counterpart set for next Wednesday - CYPRUS NEWS AGENCY

CNA - CYPRUS/Nicosia 25/8/2016 17:45

The meeting of Cyprus' Energy Minister George Lakkotrypis with his Egyptian counterpart, that was initially planned to take place today, has now been rescheduled for Wednesday, August 31, according to an official press release.

“The meeting between Minister of Energy, Commerce, Industry and Tourism of the Republic of Cyprus George Lakkotrypis and Minister of Oil and Mineral Resources of the Arab Republic of Egypt Tarek El Molla, planned for today in Nicosia, is set for the 31st of August in Nicosia” the press release reads.

SDX Energy 'Well Placed' to Drill South Disouq Well - RIGZONE

by Andreas Exarheas, Rigzone Staff, Wednesday, August 24, 2016

SDX Energy Inc. is well placed to maximize the potential of its South Disouq asset in Egypt, says the company’s president and CEO Paul Welch.

“We have a solid financial position which is underpinned by high-margin production that enables us to generate positive free cash flow down to $15 oil,” he commented in a company statement.

“This, combined with an active, and potentially transformational work program, gives us a high degree of confidence about the future,” Welch added.

Huge East Med gas reserves are focus of int'l interest - GLOBES

24/08/2016, 18:29
Nadav Shetreet

Cyprus, Lebanon, Egypt, and Israel are issuing a new series of natural gas exploration licenses.
The major natural gas reservoirs that have been discovered off the Mediterranean shores in recent years have made the region a focus of international interest. The past few months have been especially lively, with Lebanon, Egypt, Cyprus, and Israel simultaneously issuing new exploration licenses.

The American Geosciences Institute estimated in 2010 that the Eastern Mediterranean basin, which includes the territorial waters of Israel, the Gaza Strip, Lebanon, Syria, and Cyprus, has 3,450 BCM of natural gas and 1.7 billion barrels of oil. These reserves are likely to have substantial economic and environmental consequences. The discovery of these reservoirs in the their territory has given countries that were previously dependent on energy imports an opportunity to develop gas fields, achieve energy independence, and earn money by exporting gas to other countries.

Israel to offer 24 blocks in first offshore round - INTERFAX

The 24 blocks on offer in Israel’s offshore licensing round.

By Verity Ratcliffe 24 August 2016 11:28 GMT

Israel is hoping to build on the hype surrounding exploration in the East Mediterranean with its first offshore licensing round. The Ministry of National Infrastructures, Energy and Water Resources (MIEWR), the government agency responsible for overseeing all petroleum-related activities in the country, intends to approach IOCs in September before the official launch of the round in November.

The areas in the licensing round offer high gas prospectivity, but IOCs may need convincing because of the geopolitical situation and the uncertainty surrounding possible routes to market for gas exports.

A total of 24 blocks, each covering up to 40,000 hectares, will be on offer. Israel’s Petroleum Council approved the delineation of the exploration blocks on 10 August. The government hopes the round will draw more IOCs to the country’s oil and gas sector while promoting competition and transparency.

IOCs have been invited to meet the Israeli minister of energy, Yuval Steinitz, at roadshows in London on 1 September and Singapore on 6 September. The ministry will hold an information session in Houston after that. Other dates may be added, according to IHS Energy, which is advising the government on the round. Public holidays are likely to stymie progress in October so the round will officially open in November.

Turkey and the Energy Transit Question - CARNEGIE EUROPE

SEVERIN FISCHER
TUESDAY, AUGUST 23, 2016

For foreign and security policy analysts, pipelines tend to be the entry point into the world of energy. Pipelines create dependencies between countries, pipelines stay for decades, and pipelines have a highly symbolic political value.

In the European energy security debate, gas pipelines also have an identity function: you either support freeing Europe from its dangerous addiction to Russian gas by backing the Southern Gas Corridor—formerly known as “Nabucco” and designed to bring new gas supplies from the Caspian Basin, Central Asia, and Middle East regions into Europe—or you blindly follow the Kremlin’s breadcrumbs into the Nord Stream/South Stream-energy trap. Critical differentiation is rare.

Today, controversies over pipeline politics have a rather anachronistic flavor. This is mainly due to the growing flexibility of European—and partially global—natural gas markets in light of the massive increase in LNG supply, interconnectors, and spot market trade. This new market environment has not only changed the relationship between producers and consumers but has also altered the political and economic leverage of transit countries. This is especially important when looking at new transit countries, Turkey being a prominent example.

Cyprus-Egypt energy deal a possible PR stunt - CYPRUS MAIL

AUGUST 22ND, 2016
Elias Hazou

Cyprus’ sovereign rights, including the right to commercially exploit its natural resources, cannot be sidelined because reunification talks are ongoing, the government said on Monday.

“The longstanding position of the Republic of Cyprus is that the natural wealth belongs to the state, and that subsequent to a solution to the Cyprus problem all the people of Cyprus stand to benefit” government spokesman Nicos Christodoulides told the Cyprus News Agency.

He was being asked to respond to an earlier statement released by Baris Burcu, spokesman for Turkish Cypriot community leader Mustafa Akinci.

In his own statement, Burju had commented on reports in the Greek Cypriot media of an upcoming interstate gas-related agreement to be signed in Nicosia later this week between Cyprus and Egypt.

Greek media writes about new contradictions between Greek government and SOCAR over DESFA - ABC.az

22.08.2016 10:42

Between the Greek government and SOCAR (the State Oil Company of Azerbaijan) there are new frictions over acquisition of gas transmission company DESFA.

According to www.capital.gr, one of frictions – tariff policy, which among others affects the income from DESFA sale to foreign investors.

So, the Energy Ministry of Greece has made a number of amendments to the DESFA tariff policy without foreign investors’ consultations. The Greece media believes that commencement of tariff policy amendments may compromise the company privatization.

According to some reports, the SOCAR insisted on the DESFA value adjustment in case of any changes in the company assets. As a whole, the Greek government seeks to change the DESFA privatization model and to accept instruction on the sale of minority stake to a strategic investor over MOMCC model that may withdraw the SOCAR from negotiations,” web-portal writes.

U.S. Vision for Mideast Stability Runs Through Gas Pipelines - BLOOMBERG

August 21, 2016 — 10:37 AM EESTDavid Wainer

• Countries would gain from diversifying supply, diplomat says
• Line connecting Israel, Turkey would require Cyprus deal first

The potential to benefit from new gas discoveries has created a rare opportunity for eastern Mediterranean countries including Israel and Turkey to forge closer ties, according to U.S. Secretary of State John Kerry’s envoy on energy affairs.

Apache plans to increase its investments in Egypt’s petroleum explorations sector: cabinet - DAILY NEWS EGYPT

The government is providing new areas for international companies to increase their oil and gas exploration processes, says CEO

By Mohamed Ayyad

Apache, an American company specialised in the field of petroleum, plans to inject new investments in Egypt during the coming period and to sign new contracts for exploration soon, according to the company’s CEO John Christmann.

Prime Minister Sherif Ismail met on Sunday a delegation from Apache, which included the company’s chairperson, in the presence of Minister of Petroleum and Mineral Resources Tarek El-Molla to discuss the possibility of an expansion of Apache’s activities in Egypt.

Maximising the benefits from the third licensing round - CYPRUS MAIL

AUGUST 21ST, 2016
Constantinos Hadjistassou

Taking into account the current historically low crude oil prices, the interest shown in the third hydrocarbons licensing round by energy behemoths such as Exxon-Mobil, Statoil and Qatar Petroleum, is a highly encouraging development. Although the timing of the call for tenders was bold, nevertheless great care is needed if we are to make the most of this interest.

Key to the success of the call for tenders was the discovery of the Zohr supergiant gas field which shares similar geological structures – carbonate layers in the bedrock – with the offshore blocks auctioned in the third round. The big question now is the ranking of the bids submitted by the companies as well as the final political decision granting exploration concessions.