EGPC paid $480m of bank instalments to EDCO - DAILY NEWS EGYPT

17.09.2016, Mohamed Adel

The Egyptian General Petroleum Corporation (EGPC) paid approximately $480m in bank instalments to EDCO liquefaction plant (Note: Idku LNG Plant *), affiliated to Royal Dutch Shell, which ceased operating at full capacity in 2012. This did not result in the foreign partner (Shell) raising an international arbitration case against Egypt.

A source in the petroleum sector told Daily News Egypt that EDCO repays annual bank instalments amounting to about $200m, out of a loan obtained by the company to implement pipe units worth $2bn.

The source added that in order to achieve self-sufficiency between revenues and expenditures, EDCO needs to export about 22 shipments of liquefied gas annually.

Shell and Egypt agree on repricing of Phase 9C gas - ENERGY EGYPT / PETROLEUM AFRICA

September 17, 2016

Shell and Egypt’s Ministry of Petroleum and Mineral Resources have reached an agreement on gas procing for one of Shell’s fields in the North African country. The two parties agreed to re-price gas produced in phase 9C from Burullus field, which came to Shell when it acquired BG.

The repricing pegs phase 9C at the same pricing as phase 9B of the Burullus field and will range from between $2.50 and $5.88 per thermal unit a Al Borsa News report said.

Egyptian Military gives TransGlobe green light on South Alamein - ENERGY EGYPT / PETROLEUM AFRICA

September 17, 2016

TransGlobe Energy has finally received the approvals needed to proceed with its exploration program on its South Alamein Concession in Egypt. The company had been waiting to receive military access approvals in order to move forward on its program.

The approvals are the result of significant efforts on the part of the Minister of Petroleum, EGPC and TransGlobe personnel.

The concession, acquired in July 2012, contains the Boraq 2X discovery and several additional exploration targets. The concession had been placed in suspense due to military access restrictions and has approximately 20 months remaining on the final exploration phase. The company will begin making preparations to appraise and develop the Boraq 2x discovery and expects that initial drilling may be possible before the end of 2016.

FLNG for the East Med? - IN CYPRUS / CYPRUS WEEKLY

September 17, 2016, By Charles Ellinas

East Med has high gas potential but gas finds are deep-water and expensive to develop. On top of this, there are regional markets but with finite demand. As a result, there is an increasing need to export to global markets. This applies even more so to Cyprus. That’s where Floating LNG (FLNG) comes into the picture.

This was the key topic of a recent international conference in London, during which I made a presentation on potential developments in FLNG in the East Med.

Cyprus and Israel lack gas export infrastructure. They are also fast running out of export options. That’s why FLNG is coming back into the equation.

Gas Finds in Egypt, Israel and Cyprus Redraw the Mediterranean Energy Map - WPR

Egypt's Sisi (left), Greece's Tsipras & Cyprus' Anastasiades

Frederick Deknatel Friday, Sept. 16, 2016

In recent years, Egypt, Israel and Cyprus have all discovered huge natural gas fields off their coasts, raising export potential and perhaps the prospects for better political ties in the region through new energy partnerships. At least this is the scenario that the United States is hoping for. Last month, U.S. Secretary of State John Kerry’s envoy on energy affairs, Amos Hochstein, told Bloomberg that “we’re just beginning to open the spigots of what is the potential for the broader region.”

That is already evident in the improved ties between Israel and Turkey after their June rapprochement, motivated by gas diplomacy. And there is even the possibility of detente between Ankara and Cyprus, since any potential new gas pipeline from Israel to Turkey would need to travel through the island, the north of which has been occupied by Turkey since 1974. Washington, according to Bloomberg, is bullish on the eastern Mediterranean for another reason. “Even as the region struggles with regulatory uncertainty and an abundance of geopolitical risks, the U.S. is seeking to turn it into another corridor for gas supplies to Europe, which is trying to diversify its sources away from Russia.”

Libyan Unity Prime Minister Visits Egypt After Oil Exports Resume - VoA

September 16, 2016 7:52 PM
Edward Yeranian

CAIRO — Libya has resumed oil exports for the first time since military forces under the command of army General Khalifa Haftar, loyal to the parliament in Tobruk, recaptured oil installations west of Benghazi this past week.

Meanwhile, Fayez Saraj, who heads Libya’s U.N.-brokered national unity government, met in Cairo with the head of the Tobruk-based parliament, Aquelah Saleh, according to Arab and Egyptian media. The men reportedly have been trying to cobble together an agreement on a new government acceptable to rival political factions.

Parliament Speaker Saleh has repeatedly insisted on the need for a limited-size government acceptable to all parties. The Tobruk parliament refused to approve a unity government, composed of 30 ministers, earlier this year.

Israeli defense minister hails best-ever Cyprus-Israel ties - KATHIMERINI / AP

16.09.2016  16:50

Israel's defense minister says ties between his country and neighboring Cyprus are probably at their best ever.

Avigdor Lieberman said Friday that the two countries are “very, very reliable friends,” despite all the political and security problems plaguing the region.

Lieberman says the two countries are closely cooperating on numerous levels including security and the economy.

The Israeli minister was speaking after talks with Cyprus' defense and foreign affairs ministers and its intelligence chief.

LNG, fuel of the future for ships, transport minister says - CYPRUS MAIL / CNA

SEPTEMBER 16TH, 2016  
Liquefied Natural Gas (LNG) is the fuel of the future for ships, Transport Minister Marios Demetriades said on Friday.

In his address at the conference LNG Fuelling the Future of the Eastern Mediterranean, that took place in the coastal town of Limassol, Demetriades said that until recently, reference to LNG for shipping was only viewed as cargo on ships intended for use on land.

“Now we can confidently speak about LNG as the fuel of the future for ships as well”.

Analysis: European gas, from one sea to another … - NATURAL GAS EUROPE

September 15th, 2016

The decline in production in the North Sea finds an offset in the rising production potential from the eastern Mediterranean. In a previous piece[1] published on this site in June, the author Raffaele Perfetto discussed potential drivers shaping the European gas scenario in the near future and here he focuses on one in particular: the Mediterranean Gas Hub (MGH) and how it can fit with European energy needs.

The last energy scenario[2] presented by the European Commission contained interesting points worthy of further examination.

Wary of Russian gas, EU pushes TBP, Vertical Corridor - NEW EUROPE

Trans Balkan Pipeline (TBP) (Burgas Alexandroupolis pipeline)

SEPTEMBER 15, 2016

Russia has said it will abandon Ukrainian gas transit in 2019 while the EU is looking for ways to protect its member states and Kiev
By Kostis Geropoulos
Energy & Russian Affairs Editor, New Europe

European Commission Vice-President for Energy Union Maroš Šefčovič, Climate Action and Energy Commissioner Miguel Arias Cañete and Energy Ministers from 12 EU and Energy Community countries and contracting parties in Central and Southeastern Europe have discussed cooperation under the European Commission Initiative on Central and South-Eastern European Gas Connectivity (CESEC), launched in 2015.

At a meeting in Budapest on September 9, the Bulgaria–Romania–Hungary–Austria (BRUA) Connecting Europe Facility Grant agreement of €179 million was signed.

Libya's oil war starts - PETROLEUM ECONOMIST

Chris Stephen, Tunis
14 September 2016

The east's capture of four ports gives it a huge victory in the battle for the country. Oil exports may rise and the conflict could deepen
The opening round of Libya's long-anticipated oil war began this week with the seizure of four key oil ports by eastern general Khalifa Haftar. So comprehensive was the victory that it may also prove to be the closing round.

In the aptly named Operation Surprise Lightning launched on the morning of 11 September, Haftar's Libyan National Army (LNA), loyal to the elected House of Representatives (HoR) parliament in Tobruk, struck at four terminals simultaneously.

Egypt: FSRU BW Singapore hits LNG STS milestone - LNG WORLD NEWS

LNG World News Staff
Posted on September 14, 2016

Singapore-based gas shipping giant BW said its FSRU BW Singapore, used as Egypt’s second LNG import terminal in Ain Sokhna Port, has achieved a milestone ship-to-ship (STS) transfer.

BW Singapore completed its 50th STS transfer since it started operations in Ain Sokhna in October last year, BW said on Tuesday through its social media channels.

The shipping company confirmed in September last year it had been selected by Egas of Egypt to provide LNG regasification services under a five-year deal utilizing the FSRU.

Russia's Gazprom says received Turkish approval for offshore part of TurkStream - REUTERS

Wed Sep 14, 2016 7:55am EDT

Writing by Denis Pinchuk, editing by Alexander Winning

Russian gas producer Gazprom said on Wednesday it had been informed via diplomatic channels that Turkey had given approval for the building of the offshore part of the TurkStream pipeline project.

Russia hopes to sign an agreement with Turkey next month on the implementation of the TurkStream gas export project in which Gazprom is an operator.

Shell keeps Israeli gas producers guessing - INTERFAX

By Rachel Williamson 14 September 2016 9:49 GMT

Shell is holding talks with producers of Israeli gas on the possibility of supplying its Idku LNG plant in Egypt, but analysts say the Anglo-Dutch major is just testing the waters.

After Egypt signed a deal to buy gas from Cyprus at the end of August, Shell met representatives from Delek Group and Noble Energy. This was followed by a meeting with Delek in Cairo, according to three sources working for international gas producers.

The talks are a continuation of discussions that took place between BG Group and the Israeli companies over the four years before BG was taken over by Shell, according to Nati Birenboim, chief executive of energy consultancy Tamuz Group. They have discussed building a pipeline from the Tamar field and buying 105 billion cubic metres of gas over 15 years.

Nexans umbilicals to make essential subsea connection for BP and DEA in Egypt’s West Nile Delta project - NEXANS

Nexans has further extended its long run of success with BP oil & gas projects by winning a major contract to supply approximately 100 km of umbilicals for the next stage of the West Nile Delta project.

Paris, September 13, 2016 - BP Exploration (Delta) Limited, UK has ordered approximately 100 km of static umbilicals and associated accessories from Nexans for the next stage of the West Nile Delta project. This major contract will help BP, and partner DEA (Deutsche Erdoel AG), develop the Giza, Fayoum and Raven gas condensate fields and for future discovered and undiscovered resources in the BP and DEA concessions, which are between 65 km and 85 km from the coast of Alexandria, off the North Coast of the Arab Republic of Egypt.

Eni boosts Nooros production to 128,000 boed just 13 months after discovery - WORLD OIL

9/12/2016

MILAN -- Output from Egypt’s Nooros field has reached 128,000 boed (700 MMcfgd) just 13 months after its discovery, Eni said in a statement announcing the production landmark.

The field is currently producing from seven wells; however, with the drilling of additional wells, the field is expected to reach its maximum production capacity of about 160,000 boed in the spring of 2017.

"This record-setting production represents an important milestone achieved just 13 months after the discovery and ahead of schedule thanks to the success of the last exploration wells drilled in the area of ​​Nidoco and the drilling of new development wells," Eni said in a statement.

Nooros field, in the Nile Delta offshore, was discovered in July 2015 and brought on-stream that September.

Hochstein: US supports Cyprus' rights to develop its offshore natural resources - FAMAGUSTA GAZETTE / CNA

Joe Biden, VP, USA (left), Nicos Anastasiades, President, Cyprus

Monday, 12 September, 2016

US Special Envoy for International Energy Affairs (S/CIEA) Bureau of Energy Resources, Amos Hochstein, has said that the US government firmly supports the rights of the Republic of Cyprus to develop its offshore natural resources.

He was replying to questions during a joint subcommittee hearing by the US House Committee on Foreign Affairs’ Subcommittee on the Middle East and North Africa and the Committee on Science, Space and Technology’s Subcommittee on Energy entitled "Eastern Mediterranean Energy: Challenges and Opportunities for US Regional Priorities”.

Moreover Hochstein expressed his country`s support to the third licensing round for offshore exploration in Cyprus` Exclusive Economic Zone.

Cyprus working with Italy over energy - CYPRUS MAIL

Ioannis Kasoulides, FM, Cyprus (left), Paolo Gentiloni, FM, Italy

SEPTEMBER 12TH, 2016

Foreign Minister Ioannis Kasoulides said on Monday that critical elements of the Cyprus negotiations had not yet advanced to such a point “where we can see a light at the end of the tunnel”.

Kasoulides was speaking after meeting with his Italian counterpart Paolo Gentiloni in Nicosia where they discussed the Cyprus issue, energy, Brexit, terrorism, migration and Turkey-EU relations.

Asked if a solution to the Cyprus problem was possible within 2016, Kasoulides expressed the hope that it could be.

“It is not certain, because essential issues like the one of the question of the guarantees has not yet advanced to such a point, where we can see light at the end of the tunnel,” he said.

Cyprus-Greece "value security" says Egypt's FM Sameh Shoukry - SIGMA LIVE

11.09.2016 12:19 Mario Hajiloizis

Egypt’s Foreign Affairs Minister, Sameh Shoukry, told Independent Balkan News Agency on Sunday that the tripartite with Greece and Cyprus shows that the two countries “value security and understand the potential dangers for instability in Egypt.”

Shoukry was speaking after Cyprus and Egypt signed a landmark deal to transport natural gas from Cyprus’ EEZ to Egypt on August 31.

Egypt is also due to host the third summit between the three countries next month to discuss other projects agreed upon during the past two summits in Greece and Cyprus.

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.