Egypt hikes natural gas prices by up to 75 percent - THE SEATTLE TIMES / AP

July 21, 2018 at 9:41 am

CAIRO (AP) — Egypt raised natural gas prices for households and businesses on Saturday by between 33.3 and 75 percent, the latest among tough austerity measures aimed at rebuilding the country’s economy battered by years of unrest since a 2011 uprising.

The government’s decision, published in the official gazette on Saturday, should come into effect starting August. It sets the price for gas consumption of up to 30 cubic meters to 0.175 Egyptian pounds up from 0.100 pounds per cubic meter, an increase of 75 percent.

Meanwhile, gas consumption between 30-60 cubic meters went up by 42.8 percent, from 0.175 Egyptian pounds to 0.250 pounds per cubic meter. Consumption of over 60 cubic meters was upped by 33.3 percent, from 0.225 pounds to 0.300 pounds per cubic meter.

The move is likely to further fan the flames of popular discontent, especially among poor and middle-class Egyptians who have borne the brunt of the government’s economic reform program.

Turkey’s Rise Sparks New Friendship Between Israel and Greece - THE WALL STREET JOURNAL

B.Netanyahu (L), N.Anastasiades (C), A.Tsipras, May 2018,Cyprus

July 21, 2018 7:00 a.m. ETYaroslav Trofimov

Greece’s leftist Syriza party ditches its antagonism toward Israel and cooperates with Netanyahu’s government as Ankara asserts power in region

ATHENS—It’s hard to find a better example of how geopolitical realities trump ideology than the blossoming friendship between Israel and Greece.

As the leader of Greece’s leftist Syriza party before gaining office in 2015, Prime Minister Alexis Tsipras called to expel Israel’s ambassador and close Greek ports to U.S. arms shipments heading to Israel.

Syriza’s leftist allies in Europe still demonize Israeli Prime Minister Benjamin Netanyahu and his right-wing government. Many of them back the boycott, sanctions and disinvestment campaign against Israel.

Not Mr. Tsipras—who intensified cooperation with Israel instead. The leaders of Israel, Greece and Cyprus are holding regular trilateral summits—the fourth was in May—and the Israeli air force uses Greek airspace for training. The three countries, plus Egypt, are jointly developing the eastern Mediterranean’s natural-gas reserves.

The key reason for all this: Turkey.

DEEPS looks to tap into promising potential of Oil and Gas sector in Lebanon - ZAWYA

21 JULY, 2018

Beirut: A new specialized oil and gas services company, DEEPS, opened office in Lebanon recently. It was formed as an investment that looks to serve international companies that will be operating offshore the Lebanese coasts through an integrated package of the industry’s services. DEEPS is committed to provide its Lebanese and international partners excellence in service and results.

The new firm was founded by an elite group of investors and partners who possess a massive know-how and industry expertise, including well-known figures in the gas rich Egyptian market, namely Salah Hafez and Hesham Ismail who commanded high positions in the oil and gas industry and were part of the North African nation’s rise in the sector during the last decades.

Snam-led consortium in 535 mln euro deal for stake in Greece's gas grid operator DESFA- INDIA TIMES / REUTERS

July 20, 2018, 16:39 IST

ATHENS: A consortium led by Italy's Snam will take a majority stake in Greek gas grid operator DESFA under a 535 million euro ($623 million) deal signed on Friday, the country's HRADF privatisation agency said.

A consortium of Snam, Spain's Enagas Internacional and Belgium's Fluxys will buy a 66 percent stake from the government and top Greek oil refiner Hellenic Petroleum .

TSE Petrofac JV secures PMC services contract in Turkey - WORLD OIL

JULY/19/2018

ST. HELIER -- Petrofac, in a joint venture (JV) with Turkish Standards Institution (TSE), has secured a three-year, multi-million-dollar Project Management Consultancy (PMC) services contract in support of the BOTAŞ North Marmara Underground Gas Storage Expansion Project (Phase III) in Turkey.

The existing facility, located approximately 60 km west of Istanbul, has been in operation since 2007 and BOTAŞ intends to expand its working gas capacity to 4.6 Bcm. The TSE Petrofac JV is responsible for managing and supervising areas which will cover the main phases and scopes of work. These include detailed design, engineering, procurement, construction, drilling and decommissioning, along with commissioning and start-up activities.

Cyprus presses on with FSRU despite pipeline proposalProposals for a pipeline linking - INTERFAX

The Vassiliko gas-fired power station in Cyprus

18 July 2018
Verity Ratcliffe

Cyprus is preparing to tender a contract for the supply of an FSRU to be moored at Vassiliko. Plans for the project are progressing despite a proposal to pipe gas to Cyprus from offshore Israel, according to an official at Cypriot state-owned utility DEFA.

Companies will be invited to submit bids within the next few weeks, Andreas Pentaliotis, gas officer at DEFA, told Interfax Natural Gas Daily. After the tender for the FSRU, DEFA will hold two tenders for LNG supply.

Security Issues Continue to Plague Libya's Oil-Supply Growth - RIGZONE / BLOOMBERG

Wednesday, July 18, 2018Salma El Wardany

(Bloomberg) -- Just as Libya resumes oil exports from recently shuttered ports, an attack on its largest field is setting back progress yet again.

An incursion by gunmen into the Sharara field on Saturday and the kidnapping of workers there forced the National Oil Corp. to cut production and put a ban on exports. It’s the latest in a string of security incidents that have hobbled Libyan shipments despite repeated attempts to restore flows in the politically divided nation.

“This incident required us to shut down and evacuate a number of stations,” NOC Chairman Mustafa Sanalla said in a statement. The kidnappers released two of the four abducted workers later the same day but still hold two others.

POLITICS: Geopolitical Role of Cyprus in the Eastern Mediterranean - FINANCIAL MIRROR

18 July, 2018
Nikos Christodoulides, Cyprus' Foreign Minister

One of the most capturing narratives on Cyprus’s geography is the one provided by US Ambassador Thomas Boyatt, in a presentation at the Foreign Service Institute in Washington DC.

“Cyprus is an island in the northeast corner of the Mediterranean. It sits there like an aircraft carrier and dominates between east and west, as well as between north and south. Every empire from the Egyptians to the British, which has sought to dominate the Middle East, has had to control Cyprus.”

It is this unique geographical position of Cyprus, at the south-eastern-most corner of the European Union, at the cross roads of Europe, Asia, the Middle East and Africa, which has to a very large extent defined the history of Cyprus. And while more often than not our geography has been more of a curse than a blessing, our determined efforts in the last few years have been to reverse this narrative, and turn our geographical position into a blessing, putting it at the forefront of our geostrategic value.

Apache signs $9m oil and gas exploration deal in Egypt's Western Desert - AHRAM ONLINE

Ahram Online , Wednesday 18 Jul 2018

United States oil and gas producer Apache Corporation signed a $9 million deal with Egypt's Ministry of Petroleum to explore and produce oil and gas in the Western Desert, the ministry said in a statement published by state news agency MENA on Wednesday.

The deal includes assigning $30 million (EGP 537 million) investment to dig seven wells in the area, the ministry said.

Apache is holder of one of the largest areas in Egypt's Western Desert, estimated at the end of 2017 as 5.6 million gross acres in 25 separate concessions, the company writes on its official website.

Egyptian Petroleum Minister Tarek El-Molla said the new deal is part of the ministry's efforts to boost production and reserves of oil and natural gas, and to attract foreign investment.

The new agreement brings the total number of oil and gas deals signed by Egypt since 2014 to 87, the ministry added.

15th well from Nooros gas field comes online - ENTERPRISE

Wednesday, 18 July 2018

The 15th well at the Nooros gas field has come online, pumping an additional 180 mcf/d into the national grid, the Oil Ministry announced yesterday. The Nedco well allows production from the Nooros field to remain steady at 1.2 bcf/d. On a related note, Eni and EGPC JV Belayim Petroleum Company (Petrobel) — which completed work on the well in record timing of under two months — reportedly intends to pump an additional 0.5 bcf/d into the national gas grid by mid-2019, as it brings its South Balteem well online, sources tell Youm7.

The Egypt-Israel gas deal: What's the chance it will go up in smoke? - MIDDLE EAST EYE

Tuesday 17 July 2018 15:47 UTCDania Akkad

The rush is on to complete a $15bn deal to export Israeli gas to Egypt. But with nearly enough gas to supply itself, does Egypt even need it?

TEL AVIV - There is selling ice to the eskimos. And sand to the Arabs. Now there's gas to Egypt.

The rush is on to finalise a deal which would see $15bn worth of Israeli gas supplied to a private Egyptian company during the next decade.

The agreement between Israeli company Delek Drilling and Texas-based Noble Energy, who are partners in Israel’s Tamar and Leviathan fields, and the private Egyptian company Dolphinus Holdings was first publicised in February.

Greece and the Eastern Mediterranean Alliance - BESA CENTER

July 17, 2018John M. Nomikos
BESA Center Perspectives Paper No. 897, July 17, 2018

EXECUTIVE SUMMARY: The Eastern Mediterranean Alliance (Israel, Greece, and Cyprus) is emerging at a time of increasing global instability. All three states are firm democracies that promote peace, security, and environmental stability in the region. The tripartite alliance is strategically the most significant anchor of Greek security and economic progress.

Concrete steps over the past three years have set the foundations of an Eastern Mediterranean Alliance (EMA) comprising Israel, Greece, and Cyprus. The convergence of the three nations is the natural outcome of close democratic similarities and a joint desire for stability and progress in a region tormented by perennial Middle East strife, radical Islamism, and the morphing of Turkey into a fundamentalist Islamic autocracy.

The EMA is emerging at a time of increasing global instability. American retrenchment from traditional postwar strategic arrangements, the resurgence of Russia, a troubled EU, the illegal migration crisis, China’s rise as a global power, and much else leave little room for complacency.

Greek Energy Forum Newsletter, 16th July 2018 - GREEK ENERGY FORUM

16 July 2018

Lots of good news emerging out of Greece over the past two weeks:

Greece’s energy regulator, RAE, auctioned off a total of 277.32 MW in wind and solar photovoltaic (PV) capacities in in an auction held on July 2, obtaining prices lower than in the December 2016 pilot tender.

Bulgarian Energy Holding (BEH) and the European Investment Bank (EIB) have signed a Memorandum of Cooperation for the financing of the Bulgarian side of the Greek-Bulgarian gas grid interconnector (IGB), while, in a concurrent development, the IGB consortium and the TAP consortium, constructing the gas pipeline to carry Azeri natural gas through northern Greece, Albania and across the Adriatic Sea to Italy, have also signed an interconnection agreement to link the two pipelines.

Greek shipowners, meanwhile, continued their ordering spree focused on the LNG Carrier segment.

And the Copelouzos group has made moves both in the renewables/conventional electricity sector and in the DEPA Trade sale.

On the other hand, however, Eurasia Interconnector and ITPO seem highly unlikely to reach an agreement regarding the development of the Crete link. RAE is pushing the two stakeholders to form a joint venture for the delivery of the project as per the MoU signed last October. However, the Eurasia Interconnector consortium does not favour this solution and insists that the project is included in its responsibilities i.e. the connection of the Greek, Cypriot and Israeli grids via Crete.

SDX flows gas from new well in Egypt - ENERGY VOICE

16/07/2018 6:14 am
Allister Thomas

London-listed SDX Energy has had a successful production test from an appraisal well in South Disouq, Egypt.

The SD-4X well flowed for two successive 12-hour periods at 5.4 and 8.6million standard cubic feet of gas (MMscfd) respectively.

It later had an extended 24-hour flow at 10.5MMscfd.

SDX has a 55% working interest and said the well gives it “additional confidence” to deliver a peak production rate of 50MMscfd in South Disouq.

President and CEO Paul Welch said: “We are very pleased to report another successful production test result, at our SD-4X appraisal well in South Disouq.

“We intend to connect this well to infrastructure located adjacent to our SD-1X discovery over the coming months.

“We are targeting a late Q4 2018 start-up of production in South Disouq and this well test result provides us with additional confidence to deliver on our planned plateau rate of 50 MMscfd of conventional natural gas.”

Greece's DEPA clinches $175-million deal with Shell on domestic gas supplier - INDIA TIMES / REUTERS

July 13, 2018, 15:43 IST

Athens: Greece's state-controlled DEPA gas company will buy out Shell's 49 per cent stake in a domestic gas supplier, Attiki Gas Supply Company, and a gas distributor in Athens and become the sole stakeholder in the two companies, it said on Friday.

The deal between DEPA and Shell, which was signed on Friday, is worth 150 million euros ($174.45 million) and is part of a scheme under Greece's latest international bailout which says that Athens needs to eliminate potential conflicts of interest between DEPA and domestic gas suppliers.

DEPA is 65 per cent owned by the state.

Elections in Turkey and Gas Discoveries in Egypt Bode Ill for Israel’s Natural-Gas Industry - MOSAIC

JULY 13 2018

While the dictates of economics, geography, and technology suggest that Turkey would be the best possible market for the natural gas beneath Israel’s coastal waters, politics dictate otherwise. Recep Tayyip Erdogan, recently reelected to the Turkish presidency, has been hostile to the Jewish state since first coming to power, and is unlikely to be eager to set up a gas pipeline between the two countries. But, write Oded Eran and Elai Rettig, further gas extraction is only worthwhile if the gas can be exported, and it is now unclear whether Egypt, the only viable alternative to Turkey, will be any more receptive:

Oil Ministry signs three new oil and gas exploration agreements in Gulf of Suez and North Sinai - ENTERPRISE

Thursday, 12 July 2018

Oil Ministry inks three new agreements for oil and gas exploration in North Sinai and the Gulf of Suez. The first agreement, between GHP Exploration Corp. and the South Valley Petroleum Holding Company, will see the company drill four new wells at a cost of about USD 6 mn at the West Gabal El Zeit concession in the Gulf of Suez, according to a ministry statement. The second agreement was signed between the EGPC and UK’s Perenco for exploration in the North Sinai offshore concession, while the third was with the EGPC for exploration in the Gulf of Suez’ Ras Fanar concession. The Oil Ministry is currently finalizing procedures for 18 other agreements that will be announced soon, according to Minister Tarek El Molla. The government had announced plans to step up exploration activities in FY2018-19 as the country marches toward natural gas self-sufficiency and bids to become a regional energy export hub.

Turkey Faces Ticking Time Bomb With Energy Loans of $51 Billion - BLOOMBERG

July 11, 2018, 7:00 AM GMT+3
Ercan Ersoy and Asli Kandemir

• Some power producers earn less than they owe in debt charges
• Lira’s plunge against dollar has driven up foreign-loan costs

Confronted with a plunging lira, Turkey’s central bank last month urged the general public to borrow in the currency in which they are paid. That warning came too late for the country’s energy companies.

Turkish power producers are emerging as one of the biggest risks to the nation’s banks after they plowed billions of dollars into new power generation, distribution projects and deals over the past 15 years. Now, with the lira depreciating faster than they can raise electricity prices, some utilities earn less per year than what they have to repay in foreign-currency loans, according to the Ankara-based Electricity Producers’ Association.

Their predicament highlights the far-reaching impact of the lira’s 68 percent slump against the dollar since the beginning of 2010 as President Recep Tayyip Erdogan moves his country toward authoritarianism. His grip on the country culminated this week with his swearing in for a five-year term as president with enhanced powers and the appointment of his son-in-law to oversee economic policy.

Libya oil chief warns output to drop every day as ports halted - WORLD OIL

JULY/9/2018
SALMA EL WARDANY

CAIRO (Bloomberg) -- Libya’s oil output will keep dropping day by day if major ports remain closed after clashes last month led to a political deadlock, the head of the country’s state energy producer said.

“Today, production is 527,000 bpd, tomorrow it will be lower, and after tomorrow it will be even lower and everyday it will keep falling,” Mustafa Sanalla, chairman of the Tripoli-based National Oil, said in a video statement posted on the company’s Facebook page. The nation was producing more than twice that amount before fighting in February forced an oil field in western Libya to shut down, he said.

Sanalla urged Khalifa Haftar, an army commander in the politically divided nation’s east, to transfer control of the closed oil ports to the NOC in Tripoli.

Eni announces second oil discovery in Egypt's Faghur basin - WORLD OIL

JULY/9/2018

MILAN -- Eni announces a second light oil discovery on the B1-X exploration prospect located in South West Meleiha license, in the Egyptian Western Desert, some 130 km North of the oasis of Siwa.

The well is the second one drilled by Eni to explore the deep geological sequences of the Faghur basin. SWM B1-X has been drilled 7 km away from the first discovery (SWM A2-X), to a TD of 4,523 m and encountered 35 m net of light oil in the Paleozoic sandstones of Dessouky formation of Carboniferous age and in the Alam El Bueib sandstones of Cretaceous Age.

The well has been opened to production in the Dessouky sandstones and delivered 5,130 bopd of light oil (37° API) with low associated gas.

Energean seen exporting Israeli gas to Cyprus - GLOBES

9 Jul, 2018 17:39
Sonia Gorodeisky

The company is waiting for approval for a pipeline to take gas to Cyprus from the Karish and Tanin gas reservoirs.

The Reuters news agency reported last week said that another export channel for Israeli natural gas was likely to be opened soon. Greek company Energean, which owns the Karish and Tanin gas reservoirs, is waiting for the go-ahead from Cyprus to build a gas pipeline from its floating production storage and offloading (FPSO) platform to Cyprus. The quantity to be supplied is fairly small - 0.5-1 BCM per year, less than what Israel is exporting to Jordan. If the deal goes through, however, it will be very important for the Israeli gas sector because it will open up another potential market.

Reuters said that the company was now waiting for official approval to build the pipeline. Energean CEO Mathios Rigas told Reuters, "We submitted a proposal to sell gas from the FPSO (floating production storage and offloading) facility to Cyprus."

Energean gas offer to Cyprus - CYPRUS MAIL

July 7 2018

Charles Ellinas

Greek oil and gas company Energean is seeking approval from the Cyprus government to build a pipeline from its Israeli offshore gas fields and import 0.5 to 1 billion cubic metres (bcm) of gas per year to the island, Reuters news agency reported this week.

Such a deal would help Cyprus meet its obligations to switch to cleaner energy such as natural gas and renewables by 2020 if it is to avoid hefty fines by the European Commission.

This is not the first time such an offer has been made. An article released by Cyprus News Agency in December 2017 said that Energean had made an informal approach to the government to develop and take Aphrodite gas by pipeline to the FPSO (Floating Production Storage and Offloading facility) it proposes to use to develop its Karish and Tanin gas fields in Israel, treat it and export it to Cyprus. The offer was not confirmed by the government.

Given that Energean is offering gas to its Israeli clients at less $4.50 per million btu (about 1000 cubic feet), such an offer could have been interesting and possibly compete with Cyprus’ liquified natural gas (LNG) import plans. With Aphrodite running the risk of remaining stranded due to the low global gas prices, it merited consideration. Unfortunately, it was not considered and the offer lapsed.

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.

Natural Gas From Israel to Jordan in 2020 - ALBAWABA

July 6, 2018 - 07:30 GMT

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

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

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

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

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

Egypt is optimistic about new gas discoveries in the Mediterranean - THE ECONOMIST

Jul 5th 2018| CAIRO

Some think the new fields could turn Egypt into an energy hub

FIVE years ago the country that hopes to become a Mediterranean energy hub couldn’t even keep the lights on. When Abdel-Fattah al-Sisi took power in a coup in July 2013, Egypt was plagued by blackouts. Factories shut down. Surgeons operated by torchlight.

Egypt’s energy supply is still spotty. But on June 27th newspapers trumpeted the discovery of an enormous natural-gas field, called Noor, off the coast of North Sinai (see map). They billed it as the largest in the region. That title is already held by Egypt’s massive Zohr field, discovered in 2015, which is expected to change the country from a net importer to a net exporter of gas by next year.

Natural gas importer Defa calls Greek pipeline proposal unsolicited - CYPRUS MAIL

JULY 5, 2018

Elias Hazou 

The Natural Gas Public Company (Defa) on Thursday described as unsolicited a proposal it received from Greek company Energean to build a pipeline to Cyprus from Israeli offshore gas fields.

Defa chairman Simeon Kassianides said the proposal was not submitted as part of a call for tender.

Once the tender is called, he added, any interested company, Energean included, could submit their proposals.

By law, Defa is the sole importer of natural gas in Cyprus. It plans to issue a tender for natural gas imports in the near future.

Earlier in the day, Energean’s chief executive said the company is seeking approval from Cyprus for the Greek firm to build a pipeline from its Israeli offshore gas fields and import 0.5 to 1 billion cubic metres of gas a year to the island.

“We submitted a proposal to sell gas from the FPSO (Floating Production Storage and Offloading facility) to Cyprus. We sent it last week,” CEO Mathios Rigas told Reuters.

Energean, which listed on London’s main stock exchange this year, has committed $1.6bn to the Karish and Tanin fields which have potential reserves of 2.4 trillion cubic feet of natural gas and 32.8 million barrels of light oil and condensate.

Energean asks Cyprus for approval to import Israeli gas via new pipeline - REUTERS

JULY 5, 2018 / 6:24 PM

Reporting by Shadia Nasralla; Editing by Mark Potter

LONDON (Reuters) - Energean is seeking approval from Cyprus for the Greek oil and gas firm to build a pipeline from its Israeli offshore gas fields and import 0.5 to 1 billion cubic meters of gas a year to the island, Energean’s chief executive said on Thursday.

Energean, which listed on London’s main stock exchange this year, has committed $1.6 billion to the Karish and Tanin fields which have potential reserves of 2.4 trillion cubic feet of natural gas and 32.8 million barrels of light oil and condensate.

It estimates the five blocs it owns around Karish and Tanin contain an additional 5 trillion cubic feet of gas. It expects an external assessment over the coming weeks.

“We submitted a proposal to sell gas from the FPSO (Floating Production Storage and Offloading facility) to Cyprus. We sent it last week,” CEO Mathios Rigas told Reuters.

Israeli Supreme Court dismisses petition against the Karish-Tanin Development - ENERGEAN OIL & GAS

London, 5 July 2018

Energean Oil and Gas plc (LSE: ENOG), the independent oil and gas exploration and production company focused on the Eastern Mediterranean, announces that on 3 July 2018 the Israeli Supreme Court, sitting as the High Court of Justice, unanimously dismissed the petition filed on 14 September 2017 by two environmental groups against Energean and the Petroleum Commissioner, the Ministry of Energy, the Ministry of Environmental Protection and the Ministry of Finance, in connection with the Karish-Tanin Development.

These proceedings constituted the sole outstanding court proceedings against Energean in Israel. Energean is planning to deliver gas to the Israeli market from the Karish-Tanin Development in 2021, and is on track with its project milestones to achieve this timeline.

Bahr Essalam Phase 2 goes onstream offshore Libya - OFFSHORE MAGAZINE

JULY/05/2018

SAN DONATO MILANESE, Italy – Mellitah Oil & Gas, the joint venture between Eni and Libya’s NOC, has started production from the first well of the Bahr Essalam Phase 2 project in the Mediterranean Sea offshore Libya.

Start-up was three years after the final investment decision. Two further wells are due to enter production during the next few days. With a further seven set to come onstream by October.

Phase 2 will complete development of the country’s largest producing gas field, Eni said, increasing its production potential by 400 MMcf/d.

By October, the field’s total output should reach 1.1 bcf/d.

Bahr Essalam, 120 km (75 mi) northwest of Tripoli, contains more than 260 bcm of gas. This is delivered through the Sabratha platform to the onshore Mellitah treatment plant, with most of the supplies directed to Libya’s national network.

Jordan pipeline for Israeli gas set for completion by end of 2019 - WORLD OIL / BLOOMBERG

JULY/4/2018
Mohammad Tayseer, Yaacov Benmeleh

TEL AVIV (Bloomberg) -- A pipeline to transport $10 billion worth of natural gas over 15 years from Israel’s Leviathan field into Jordan will be completed by the end of 2019, according to the company buying the fuel.

Engineers building a 65-km (40-mi) pipeline from Jordan’s border with Israel northward across Mafraq province will finish their work on time to receive first gas from Leviathan at the start of 2020, Abdel Fattah Daradkeh, director general of Jordan’s National Electric Power Co., said in a phone interview. A section of pipeline to move gas from the offshore field through Israel to the border is also under construction, he said.

After years of legal and regulatory logjams, the companies developing Leviathan are making significant progress to honor multi-billion-dollar export deals. About 54% of the nearly $4-billion Leviathan project has been completed, the companies said this week. Jordan, with negligible energy resources of its own, would become Israel’s first buyer for gas from the Mediterranean reservoir.

Natgas market regulator to officially begin issuing import permits - ENTERPRISE

Thursday, 5 July 2018

Natgas market deregulation gets in full swing as regulator to officially begin issuing import permits: The board of directors of the new natural gas market regulator approved that it begin issuing and revoking licenses for private sector natural gas industry players, according to an Oil Ministry statement. The regulator — established under the Natural Gas Act, which deregulated the market and opened it up to the private sector — will begin its work “in the coming period,” according to the statement. Natural gas companies are currently gathering the necessary paperwork to submit their requests for a license to distribute natural gas, ministry sources said, Al Shorouk reports.

Energy Ministry announces winning bid for hydrocarbon exploration off Crete - ANA-MPA

Tuesday 3 July 2018, 17:03:13

The ministerial decision announcing the winning bid of Hellenic Petroleum (HELPE), Total and Exxon Mobil consortium for hydrocarbon research off western and northwestern Crete was made on Tuesday.

The areas concerned cover 19,868 sq.km and 20,058 sq.km, respectively.

The call for tenders went out in December 2017 following the consortium’s expression of interest, and the consortium held negotiations with the Hellenic Hydrocarbon Resources Management (HHRA) agency, which submitted its approval to Environment and Energy Minister George Stathakis last week.

Prior to the agreement's tabling in Parliament, it must go through reviews by the Court of Auditors, the signature of the leasing agreements with HHRA, and the approval of the minister. 

As HHRA head Yannis Bassias told the Athens-Macedonian News Agency, the finalist for hydrocarbon exploration in the Ionian Sea (HELPE-Repsol) will be submitted to the minister next week.

Petronas shortlisted for US$1.2 bil Lebanon FSRU job - THE EDGE MALAYSIA

July 03, 2018 16:00 pm +08

Jose Barrock

NATIONAL oil company Petroliam Nasional Bhd (Petronas) and 12 other international outfits have been shortlisted to develop three floating, storage and regasification units (FSRUs) in Lebanon.

News reports out of Lebanon and international shipping publications put the value of the contract to build the three FSRUs at about US$1.2 billion (RM4.81 billion), with the three ships slated to be moored at Beddawi, near Tripoli; Selaata, north of Beirut; and Zahrani, which is close to Tyre; as recommended by advisers Poten & Partners.

“Yes, Petronas has been shortlisted, but it [the bidding] is quite competitive. Some of the shortlisted companies are consortiums, which are technically very strong,” says an oil and gas (O&G) executive who is familiar with the bidding.

The consortiums prequalified include Japan’s Kawasaki, Norway’s K-Line and US’ Fluor; a partnership between Italy’s Eni and Qatar Petroleum International; a joint venture between Singapore’s BW, Dutch company Vitol with two Lebanese companies Almabani and Butec; another partnership involving US-based Excelerate with British Dutch Shell partnering Lebanese outfit BB Energy; another involving Norway’s Golar Power in partnership with Consolidated Contractors Company of Greece; the Phoenicia Energy Consortium; and lastly, France’s Total working with Norway’s Hoegh.

Egypt plans to pay USD 200-500 mn in arrears to oil producers by end-September. Will small players get any of it? - ENTERPRISE

Tuesday, 3 July 2018

Egypt to pay USD 200-500 mn in arrears to oil companies by the end of September: EGPC plans on paying USD 200-500 mn in arrears to oil producers by the end of September, EGPC sources say. EGPC is in talks with the government to arrange the financing, according to the sources. The Finance Ministry had reportedly agreed back in May to issue letters of assurance for two loans to the EGPC worth a combined USD 850 mn to repay IOCs. Sources had also previously said that a USD 200 mn payment would be made to IOCs in June. Egypt’s total arrears had been brought down to USD 2.1 bn as of February.

Will smaller players get any of it? Our friends in the industry noted that while the state’s backlog of payments to the industry is declining, that’s because large players including the global majors have been paid out at the expense of smaller local and regional fish.

Pyatt welcomes steps on Greek-Bulgarian gas pipeline - ANA-MPA / CAPITAL

Monday, 2 July 2018 - 18:50

US Ambassador Geoffrey Pyatt welcomed agreements that were signed last week regarding the construction of a natural gas pipeline between Greece and Bulgaria.

"An important and welcome development as we seek to enhance diversity of supply and routes in the European gas market. Also complements the Planned Alexandroupoli floating LNG storage and regasification unit," he said in a tweet.

Last week several agreements were signed in Sofia regarding the construction of the IGB gas pipeline linking the two countries.

A cooperation agreement was signed between IGB and TAP for connectivity of the two gas pipelines, while, a joint declaration was also signed between the shareholders in the project company for confirming a commitment to start its construction.

Additionally, a Memorandum of Understanding between the Bulgarian Energy Holding (BEH) and the European Investment Bank (EIB) was signed regarding the realization of the IGB project. The memorandum concerns securing preferential loan financing in connection with using the state guarantee of Bulgaria (expected 110 million euros) and is a key step in IGB’s realization.

US Drlling with a British Drill in Cyprus - PHILELEFTHEROS

2 July 2018

TEKMOR: Cypriot newspaper Phileleftheros reports that drilling in Cyprus' Block 10 by ExxonMobil will start mid-November & finish in March 2019 using a super modern UK-flagged drilling platform, owned by a London-HQ British company with a presence in Cyprus as well. In the mean time Maltese MedServ has reported an agreement for the provision of onshore logistics with a multinational that will be conducting exploration activities in Cyprus' EEZ.

Oil Ministry downplays suggestions that Noor field could be 3x Zohr - ENTERPRISE

Monday, 2 July 2018

Oil Ministry advises caution on reports of the size of the Noor field: Oil Minister Tarek El Molla pulled the brakes on reports on reserve figures on the Noor gas field off the coast of North Sinai. He tells Youm7 that the numbers being reported are not official and are not sanctioned by the Oil Ministry. The local and international press had caused a stir last week with reports that Italy’s Eni could unlock as much as 90 tcf of natural gas reserves from the Noor field, would make it about 3x the size of the supergiant Zohr gas field, if true. El Molla noted that the concession agreements for the field have yet to be ratified by the House of Representatives, so Eni would not have even started operations on the field yet.

A source in the industry tells that while the seismic studies are still in progress, drilling of the well won’t take place until later this year — and won’t reach its planned target depth before early January 2019. The source also points out that “on average, exploration wells have a success rate of around 20-25%,” calling it “absolutely extraordinary and extremely unlikely” that it would yield a mega-find on the scale suggested by the press last week.

Egypt issues final liquefied gas tender on road to self-sufficiency - THE ARAB WEEKLY

Sunday 01/JULY/2018Hassan Abdel Zaher

Egypt’s oil and gas sector is expected to receive $10 billion in investments in the next two years.

CAIRO - Egypt is close to reaching self-sufficiency in natural gas and resuming exports, which would end almost a decade of dependence on imports.

Egyptian Petroleum Minister Tarek el-Molla said Egypt’s latest liquefied natural gas tender for nine shipments of natural gas could be its last because local production would meet domestic demand and even allow for energy exports next year.

“I don’t think there will be more tenders beyond this. I think this is it,” Molla said. “Local production should cover our needs.”

Egypt would look to export natural gas to international markets almost a decade after halting exports due to increasing consumption, decreasing production and a lack of upgrade for Egypt’s natural gas fields. Natural gas finds, particularly in the eastern Mediterranean, have revamped Egypt’s energy plans.

President meets Total chief in Paris - CYPRUS MAIL

Anastasiades (L), Pouyanne (R)

July 1, 2018

Katy Turner

Total’s energy programme was discussed during a meeting in Paris between President Nicos Anastasiades and the general director of the company Patrick Pouyanne, during which he reiterated Total’s interest in increasing its presence in Cyprus.

Government Spokesman Prodromos Prodromou said during the meeting on Saturday evening “the company’s commitment to Cyprus was repeated”.

At the same time, the company “reconfirmed its increased interest in the EEZ of our country”.

Prodromou was in the meeting, as was Energy Minister Yiorgos Lakkotrypis.

In a tweet, Lakkotrypis said the company had expressed “intense interest in expanding its interests in Cyprus’ EEZ”.

Total and Italian company ENI are partners in blocks 11 and 6. An exploratory drilling carried out in early 2017 in Calypso target revealed a “promising discovery” but no data have been disclosed yet concerning the size of the reservoir size.

First Gas Deliveries to Turkey Launched Via TANAP Pipeline - SPUTNIK NEWS

30.JUNE.2018, 14:24 

MOSCOW (Sputnik) - Azerbaijan has started first gas deliveries to Turkey via the Trans-Anatolian Pipeline (TANAP), Southern Gas Corridor CJSC General Director Afgan Isayev said in a statement.

"The SGC project has been financially supported by the leading international financial institutions, and Phase-0 under TANAP project, which relates to the works required for the first commercial gas deliveries to Turkey, has already been completed. First commercial gas deliveries to Turkey has commenced today, on 30 June 2018. The works planned for the delivery of natural gas to Europe through Turkey in the near future are being carried out according to the schedule," Isayev was quoted as saying in the statement.

According to the statement, the Multilateral Investment Guarantee Agency (MIGA, part of World Bank group) has approved the loan for the Azerbaijan Republic totaling $750 million to finance the TANAP project.

It will transport gas from the Azerbaijani Shah Deniz Stage 2 gas field to Turkey and Europe.

The target capacity of the TANAP pipeline is 31 billion cubic meters of gas per year. The pipeline is 1,150 miles long.

Nord Stream 2 Gas Pipeline to Improve European Energy Security - Moscow - SPUTNIK NEWS

30.JUNE.2018, 11:19 

Sergey Guneev

VIENNA (Sputnik) - The European Union realizes that Russia is the guarantor of the European energy security, Russian Deputy Foreign Minister Alexander Grushko told Sputnik commenting on the US calls to abandon the Nord Stream 2 gas pipeline project.

"I think that everyone in Europe realizes that Russia is the guarantor of continent's energy security. And if we talk about US ambitions to ensure this security, the current US share in the European gas market is about only two percent," Grushko said in an interview.

The energy cooperation requires maximum depoliticization and should be based on economic interests, Russian Deputy Foreign Minister Alexander Grushko told Sputnik.

"We have always assumed that the energy cooperation should be based on economic factors. It is necessary to achieve maximum depoliticization of such cooperation, to eliminate the influence of any geopolitical factors," Grushko noted.

The construction of the Nord Stream 2 gas pipeline will improve the European energy security, the Russian Deputy Foreign Minister stated.

Saipem/PMS to manage Zohr life of field operations - OFFSHORE MAGAZINE

JUNE/29/2018

SAN DONATO MILANESE, Italy – Saipem, in a consortium with Petroleum Marine Services (PMS), has won a contract to provide life of field operations for Petrobel’s deepwater Zohr gas field development in the Egyptian sector of the Mediterranean Sea.

Operations will be managed from PMS’ DP-2 vessel Ahmed Fadel, with Saipem subsidiary Sonsub performing subsea equipment management and servicing.

Stefano Porcari, director of operations of Saipem’s Offshore E&C division, said: “This contract confirms Saipem’s leadership position…as a provider of global offshore solutions, from concept to end-of-life of a subsea field.”

Cyprus contract awarded - THE TIMES OF MALTA

Friday, June 29, 2018, 06:38

Medserv has announced that it has signed a second contract with a multinational oil and gas corporation (TEKMOR note: ExxonMobil most likely) to provide shore base logistics services for exploration activities taking place offshore Cyprus.

To provide these services, the company will be setting up additional logistics facilities in the port of Limassol. It is expected that this contract will be serviced through the group’s internal resources.

Medserv also supports the offshore activity of ENI in the region. The award of this contract is another major step to broaden the group’s oil and gas client portfolio and establishes the company now in eight countries as tendering activity continues.

Eni To Begin Gas Exploration At Egypt Noor Field In Two Months -RIGZONE / REUTERS

Thursday, June 28, 2018

Reporting by Ahmed Ismail Writing by Eric Knecht. Editing by Jane Merriman

CAIRO, June 28 (Reuters) - Italian oil company Eni will begin drilling an exploratory well at its Noor field in Egypt's North Sinai in two months, Egyptian oil ministry spokesman Hamdi Abel Aziz told Reuters on Thursday.

Egypt's cabinet approved the $105 million deal to explore the North Sinai region of the Mediterranean Sea in March.

Eni's discovery of the giant Mediterranean gas field Zohr in 2015, estimated to hold about 30 trillion cubic feet of gas, has raised interest in gas exploration in Egypt.

The company has not said what level of reserves they expect Noor to contain, and the exploratory well will help to begin determine that, Abdelaziz said.

Pioneering Spirit Resumes Work on TurkStream Pipeline - MARITIME EXECUTIVE

2018-JUNE-28, 17:54:38

Less than a month after completing a successful platform installation off Norway, the Pioneering Spirit has resumed pipelay work on the TurkStream pipeline under the Black Sea. She has had a busy year: she finished building the pipeline's first string on April 30, exited the Black Sea on May 2, installed a 22,000 tonne topsides unit at the Johan Sverdrup field off Norway in early June, and entered the Black Sea once more on June 20.

Upon her return at the TurkStream site, the Pioneering Spirit conducted preparatory work, including stinger deployment and pipelay equipment checks. Once she was ready, the unfinished head of the second pipeline string was recovered from the bottom of the Black Sea, at a depth of 7,100 feet. The initial 120 nm section of the second string was built in 2017, and was only completed up to the Russian-Turkish EEZ border.

Libya State Oil Co. confident eastern rival can't ship crude - WORLD OIL

JUNE/28/2018

CAIRO (Bloomberg) -- The chairman of Libya’s National Oil Corp. in Tripoli said he’s confident that the U.S. and other world powers would help block authorities in eastern Libya from exporting any crude after militia captured key ports there.

Natural Gas: Cyprus Heading towards a New Energy Era - CYPRUS MAIL

JUNE 27, 2018

Two European co-funded projects Cynergy and Cyprus Gas2EU, organised a Discussion Forum with the title “Natural Gas: Cyprus Heading towards a New Energy Era” at the Filoxenia Conference Centre in Nicosia. The event was under the auspices of the Ministry of Energy, Commerce, Industry and Tourism and the Ministry of Transport, Communications and Works, and attracted more than 160 delegates from the transport and energy sectors, public bodies, and international organisations. The first official presentation of the CYnergy video was also held during the event.

In his welcome speech, Mr. Lakkotrypis emphasized on the importance of CYnergy, as being an extremely important project for Cyprus, since it sets the foundations for importing LNG and thus contributes to the island’s energy security and the roll-out of gas market. He also added that CyprusGas2EU is a project of particular national importance, as it will help Cyprus to finally wean itself off conventional fossil fuels for electricity production, which currently account for approximately 90 per cent.

Israeli energy stocks plunge on huge Egyptian gas find reports - GLOBES

27 Jun, 2018 12:54
Sonia Gorodeisky

Italian co Eni is reportedly set to announce the Noor gas discovery, which will even dwarf the massive Zohr field.

Egyptian media reports that Italian energy company Eni is about to announce a massive offshore gas discovery in the coming few days have been enough to seen energy stocks on the Tel Aviv Stock Exchange (TASE) plunging. With an estimated 2,550 billion cubic meters (BCM) of gas, Noor would be three times larger than the Zohr gas field, over five times larger than Israel's Leviathan field and more than ten times the Tamar field.

At midday, Delek Group Ltd. (TASE: DLEKG) was down 3.42%, Delek Drilling LP (TASE: DEDR.L) was down 4.46%, Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) was down 3.63% and Ratio Oil Exploration (1992) LP (TASE:RATI.L) was down 4.70%.

Former Egyptian Petroleum Minister Osama Kamal said, “If you remember two months ago we said that more discoveries will follow in this area. Hopefully, this great news will be announced by the President and the minister of petroleum in a few days.”

Washington ‘cultivating Greece as anchor of stability,’ says Mitchell - KATHIMERINI

WEDNESDAY JUNE 27, 2018, 13:39

US Assistant Secretary of State for European and Eurasian Affairs Wess Mitchell told Congress’s Foreign Affairs Committee on Tuesday that Washington is “constructing a long-term strategy to bolster the US presence in the Eastern Mediterranean.”

To this end, “we are cultivating Greece as an anchor of stability in the Mediterranean and Western Balkans and working to systematically strengthen security and energy cooperation with Cyprus,” he stressed.

Asked about Turkey, Mitchell said that “our immediate concerns are to… prevent Turkey’s purchase of the Russian S-400 system; and to develop a modus vivendi for our respective forces and local partners in stabilizing Northern Syria and preventing ISIS’s return.”

The American official also said that securing the release by Turkish authorities of an American pastor, Andrew Brunson, and other unjustly detained US citizens and local embassy staff, was also among Washington’s top priorities vis-à-vis Ankara.

Israel to Ease Drilling Curbs to Entice Majors to Next AuctionBy - BLOOMBERG

June 26, 2018, 12:30 AM GMT+3Stephen Cunningham

• Egypt deal, planned gas pipeline improve export outlook
• Sees progress on resolving Cyprus row over gas reservoir

Israel plans to relax drilling restrictions as it gets ready to offer up more offshore exploration licenses later this year following a lackluster reaction last time around.

From talks already held or planned with some of the world’s biggest oil and gas companies, including Exxon Mobil Corp., ConocoPhillips and BP Plc, it “seems as if there is a lot of interest,” Israeli Energy Minister Yuval Steinitz said in an interview in Washington on Monday.