Four companies apply to import natural gas - DAILY NEWS EGYPT

Mohamed Adel March 19, 2016
EGAS is studying their credentials, official says

Number of factories owners decided to cease operations until a recent decision to increase the price of mazut and natural gas was rescinded. (AFP Photo)

The Egyptian Natural Gas Holding Company (EGAS) has received applications from four companies seeking to import natural gas to supply to the domestic market through the national grid.

An EGAS source told Daily News Egypt that the holding company is negotiating with the four companies to provide them with the necessary data in order to give them the initial approval until the law regulating gas imports is issued.

Cyprus’s geology similar to Zohr area – minister - INTERFAX

By Verity Ratcliffe 18 March 2016 

Cypriot Energy Minister Yiorgos Lakkotrypis is optimistic about his country’s third licensing round. (PA) Cypriot Energy Minister Yiorgos Lakkotrypis is optimistic about his country’s third licensing round. (PA)

Cyprus’s imminent third licensing round will offer offshore acreage with similar geology to the area in which Egypt’s Zohr field was discovered, according to Yiorgos Lakkotrypis, Cyprus’s energy minister.

Lakkotrypis spoke to Natural Gas Daily about the country’s energy potential, developing the Aphrodite field and routes to market for Cypriot gas.

Russian interests to dictate Israel-Turkey deals - NATURAL GAS EUROPE

Israel President Reuven Rivlin (left) with the Russian President
Vladimir Putin in Moscow 

March 17th, 2016

Israel and Russia are about to agree upon a modus operandi in the East Mediterranean concerning weapons and natural gas deals, several Israeli media reports indicate. According to various assessments, the bottom line of such an agreement would be that Israel will not sell natural gas to Turkey and, in return, Russia won't supply S-300 anti-aircraft missiles and other advanced weapon systems to Iran and other regional enemies of Israel.

The basis for the agreement all started about six months ago when, in a surprise move, Russia deployed about 50 jet fighters, helicopters, and ground forces to a Syrian air base in the northwest of the country. It was the first time in a generation that the Israeli Air Force had to confront an adversary as formidable as the Russian air force, and worse, Israel's interests were threatened by the might of the Russian state on its borders.

Energy Ministry says EU keen on receiving Israeli natural gas - JERUSALEM POST

By MICHELLE MALKA GROSSMAN \ 03/17/2016

The National Infrastructure, Energy and Water Ministry said on Wednesday said that the European Union is interested in receiving natural gas from Israel.

According to a statement issued by the ministry, National Infrastructure, Energy and Water Minister Yuval Steinitz met with EU Ambassador to Israel Lars Faaborg-Andersen on Wednesday in order to “be updated on the time line regarding the development of gas reservoirs and the possibility of exporting natural gas from Israel to Europe.”

3D Seismic Programme on South Disouq, Egypt - SDX ENERGY

LONDON, March 16, 2016 /CNW/ - SDX Energy Inc. (“SDX”) (TSX VENTURE: SDX) is pleased to provide an update on its activities at its South Disouq asset located onshore Nile Delta Egypt.

Further to the announcement on 10 November 2015, regarding the signing of contract for the seismic acquisition of 300km2 of 3D data on the South Disouq concession (SDX 55% WI), the Company announces that the programme has commenced.

The seismic acquisition programme is expected to take approximately three months after which a 3-4 month period of processing and interpretation will be undertaken. The data obtained through this programme will be used to determine the prospectivity on the block followed by the selection of a location for a high impact exploration well forecast to be drilled in Q4 2016.

Noble CEO says next step is to line up customers - CYPRUS MAIL

 

MARCH 16TH, 2016 STAFF REPORTER

Noble Energy CEO David Stover said on Wednesday, the company’s main next steps would be its marketing effort to identify potential customers for the gas from the Aphrodite field.

“I think that is one of the key things that we are focused on, so that can support the development economics of the project,” Stover said after a meeting with President Nicos Anastasiades in Nicosia.

Asked if Noble had a timetable, Stover said the timing would depend on having the customers lined up, and then negotiations with the customers.

US Politicians, Noble Meet Israeli Ministers ahead of Stability Ruling - NATURAL GAS EUROPE

March 15th, 2016

Noble Energy CEO David Stover and senior company executives visited Israel’s energy minister Yuval Steinitz and prime minister Benjamin Netanyahu on March 14 to chivvy things along with the Leviathan field development.

He arrived a few days before the High Court of Justice is due to release its decision on the petitions objecting the natural gas regulatory framework, but the ministry said that was a coincidence.

In a statement the ministry said Stover presented Steinitz with the timetable and data in an effort to accelerate the development of the Leviathan reservoir." The ministry said the visit had been planned in advance and had no connection to the legal process.

"Noble's executives have reassured [us] that despite the turmoil in the global energy markets it will be possible to complete the development of Leviathan in accordance with the framework's timetables and even to shorten the duration," the spokeswoman said. "Steinitz said that the Israeli government is committed to the gas framework and the ministry will act to solve the bureaucratic processes in order to enable the gas field development in an orderly manner."

Circle gets respite from Egypt Woes - NATURAL GAS AFRICA

March 15th, 2016

Circle Oil, the London-based independent with modest North Africa oil and gas production, last month blamed its tight cash flow and financial pressure on the ongoing “uncertainty and irregularity of US dollar receipts" from state-owned Egyptian General Petroleum Corporation (EGPC).

On March 15, however, it had some positive news. Negotiations with the World Bank’s International Finance Corporation (IFC) on suspending a redetermination by December 2015 of its Reserve Based Lending had been postponed, said Circle, “until 15 April 2016, with any repayments required under the RBL facility, which is currently drawn to $57.5 million, being postponed until that date.”

IFC had further, said Circle, indicated its willingness to consider further waivers as may be required while the company’s strategic review, led by the UK bank Investec, continues. Options for that include sale of one or more assets, a merger, raising fresh capital, or an outright sale of Circle.

Turkey and Ukraine find common ground on gas - INTERFAX

Turkish President Erdogan, left, and Ukrainian President
Poroshenko at the summit in Ankara last week. (PA)

By Joshua Posaner and Staff reporter 14 March 2016

 Turkish President Erdogan, left, and Ukrainian President Poroshenko at the summit in Ankara last week. (PA) Turkish President Erdogan, left, and Ukrainian President Poroshenko at the summit in Ankara last week. (PA)

Turkey and Ukraine signalled a closer alliance on energy last week, but analysts say market realities are likely to restrict short-term cooperation when it comes to gas.

The leaders of the two countries took part in a bilateral summit in the Turkish capital late last week. One key suggestion from Ukraine’s President Petro Poroshenko was for Turkey to use his country’s gas storage facilities as a means of boosting national supply security.

"Poroshenko and [Turkish Prime Minister Ahmet] Davutoglu agreed to establish closer cooperation on issues relating to joint participation in developing energy infrastructure and international energy corridors," Ukraine’s presidential media service said following the talks.

Global LNG market and Europe - IN CYPRUS / CYPRUS WEEKLY

Charles Ellinas — 13/03/2016

LNG

The global liquefied natural gas (LNG) market is going through difficult times due to the glut of LNG coming into the market and the slow increase in demand. If it sounds similar to the oil story it is, because there is a linkage and there are similarities.

Some say that the LNG business will not make money for a long time to come. When many of the projects coming now on-stream were sanctioned, gas in Japan was above $16 per million British thermal units (mmBTU) and in Europe it was above $13/mmBTU. Now prices in Europe have gone down to $4/mmBTU. This has profound implications on gas trading globally and in Europe and plans to develop and export Eastern Mediterranean gas.

Petroleum marine services provider PMS wins 4 bids in Egypt - AMWAL ALGHAD / ZAWYA

By Mahmoud Shaaban, 13 March 2016

Egypt-based Petroleum Marine Services Company (PMS) won executing four large projects including the expansion project of the third basin in Ain Sukhna port for Armed Forces Engineering Authority.

Chairman El-Sayed El-Badawi stated Sunday that PMS is to execute the developmental project of platform Amal C for PICO International Petroleum (PIP), Egypt's largest private sector oil and gas company.

The third project is establishing shipping services for propylene and polypropylene for the Egyptian Propylene and Polypropylene Company (EPPC).

El-Badawi stated that PMS also won the developmental project of HH and NAO fields of the General Petroleum Company (GPC).