Nigeria To Play A Major Role In Turkey’s Energy Sector - OILPRICE.com

Jul 29, 2017, 10:00 AM CDT

Shadow Governance Intel

Nigeria is one of Turkey’s largest trading partners in Africa, and trade remains an integral component of Nigeria – Turkey bilateral relations. In 2014, trade between the two countries reached approximately US $2.5 billion. However, this figure fell to US $1.5 billion in 2015 and approximately US $1 billion in 2016, largely due to a drop in global oil and gas prices.

Over the past several decades, Nigeria has become one of Turkey’s most important providers of liquid natural gas (LNG), currently accounting for more than 20 percent of LNG imports. However, this trade relationship has the potential to develop and expand as the global LNG market flourishes, and both the Turkish and Nigerian governments invest in furthering their domestic LNG sectors.

Is Egypt’s Zohr Field A Game Changer? - OILPRICE.com

Jul 29, 2017, 2:00 PM CDT
Shadow Governance Intel

A politically turbulent six-year period has impacted the Egyptian business environment, adding a new layer of political risks to investments made across the national economy. Despite this, the outlook in certain sectors is largely positive; and the gas sector may be one of the first to see profitability.

With the third largest gas reserves in Africa, behind Algeria and Nigeria, and the 17th largest globally, international interest has always existed in Egypt’s gas sector. However, management of gas pipelines has been a controversial issue, leading to concerns over how viable the industry is set to be once fully developed under President Sisi.

Official denies Egypt imports LNG from Qatar - EGYPT INDEPENDENT / AL-MASRY AL-YOUM

July 28, 2017, 4:30 pm

An official source from the Ministry of Petroleum has said that Egypt has never directly imported natural gas from Qatar, except under former president Mohamed Morsi’s rule.

The source denied rumors that Qatar suspended shipments of liquefied natural gas (LNG) to Egypt following political tension between the two countries.

“Egypt imports gas shipments from global tenders and then contracts with international suppliers, regardless of their nationality,” said the source.

Egypt’s Gas Holding Company has concluded the 2017 contracts for all LNG shipments, according to the source.

Hellenic advances turnaround at Elefsina refinery - OIL & GAS JOURNAL

HOUSTON, July 28 2017
Robert Brelsford

Hellenic Petroleum SA has decided to bring forward major planned maintenance at its 100,000-b/d Elefsina refinery in Elefsis, Greece, following an unexpected shutdown of the plant’s hydrogen production unit in early July.

Planned maintenance works at all of the refinery’s units originally scheduled to take place from late-September 2017 through March 2018 will now be carried out during the current shutdown period, Hellenic said.

SAIPEM awarded offshore contract variations worth 900 million USD for the optimised ramp up phase of the Zohr field development project - SAIPEM

July 27, 2017, San Donato Milanese (Milan)

Saipem and Petrobel have finalized offshore contract variations worth 900 million USD for Engineering, Procurement, Construction and Installation (EPCI) activities in relation to the “Optimised Ramp Up” phase of the “supergiant” Zohr Field Development Project situated in the Mediterranean Sea off the Egyptian coast.

Petrobel is a joint venture between IEOC (an Eni subsidiary in Egypt) and EGPC (Egyptian General Petroleum Corporation) and is in charge of the development of Zohr on behalf of PetroShorouk, a joint venture between EGAS (Egyptian Natural Gas Holding Company) and IEOC.

Egypt aims to raise gas output to 6.2 bcf/d by next June - REUTERS

JULY 27, 2017 / 11:03 AM
Reuters Staff

CAIRO, July 27 (Reuters) - Egypt expects its natural gas production to rise to 6.2 billion cubic feet (bcf) per day by the end of the fiscal year next June from 5.2 bcf/d currently, Petroleum Minister Tarek El Molla told Reuters on Thursday.

Once an energy exporter, Egypt became an importer of natural gas after domestic output failed to keep pace with rising demand. It aims to regain self-sufficiency in natural gas by the end of 2018 with the help of three recently discovered major gas fields.

First stage of ‘Onisiforos’ drilling completed - IN CYPRUS /CYPRUS WEEKLY

July 26, 2017

Drilling offshore Cyprus’ plot 11 or ‘Onisiforos’ by energy giants TOTAL and ENI with the West Capella rig has reached the first 2,430 meters in ocean floor depth, Phileleftheros reported on Wednesday.

And this means that the first of eight overall stages of scheduled drilling – which began a week ago – is now complete.

“At this level, the drilling operation is effectively interrupted for a while so as to ‘cement’ the drilling, that is to install a cement protective sleeve,” the daily also said.

“In addition, the first leakage prevention system is also installed and this process is expected to continue until the end of this week,” it added.

Can Egypt’s Natural Gas Production Be Doubled By 2020? - HART ENERGY / STRATAS ADVISORS

Wednesday, July 26, 2017 - 12:18pm

This excerpt is from a report that is available to subscribers of Stratas Advisors’ Global Hydrocarbon Supply and Global Upstream Project Analytics services.

Egypt is the third largest natural gas producer in Africa and holds about 65 Tcf of proved natural gas reserves, according to the BP Statistical Review of World Energy 2017. But due to Egypt’s government paying low gas prices to foreign operators, it was getting more difficult to attract investments on developing new gas projects. Therefore, natural gas production had been under rapid decline from 5.9 Bcf/d in 2011 to 4.1 Bcf/d in 2016.

With significant natural gas reserves in the country, Egypt still needs to import natural gas from neighboring countries to satisfy domestic consumption, so Egypt’s government has agreed to pay a higher price to the foreign operators and encourage them to develop new natural gas discoveries, especially fields in the deepwater Mediterranean Sea and Nile Delta.

Qatar turns down new LNG deals with Egypt - traders - REUTERS

JULY 26, 2017 / 5:11 PM
Oleg Vukmanovic

LONDON, July 26 (Reuters) - Qatar has turned down several requests by third-party traders to make fresh liquefied natural gas (LNG) supplies available to Egypt, raising concerns that a diplomatic row between the countries may curb regional energy trade, sources said.

Top LNG producer Qatar supplies around 60 percent of Egypt's LNG but relations suffered after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut ties and imposed sanctions on the gas-rich Gulf state last month, accusing it of supporting terrorism. Doha denies the charges.

The Legal Aspects of Turkey's Claims over Offshore Blocks in the Exclusive Economic Zone of Cyprus - ANTONIOU McCOLLUM & CO.

July 25, 2017
Anastasios A. Antoniou

Speed read

Total and ENI hold the exploration licences for block 6 in the Exclusive Economic Zone ("EEZ") of the Republic of Cyprus. Turkey claims that part of block 6 falls within its own continental shelf and has extended warnings to Cyprus as well as Total and ENI as regards their exploration operations. This note assesses Turkey's claims vis-à-vis the Cypriot EEZ from an international law perspective.

The Republic of Cyprus is the only existing Subject of International Law on the island of Cyprus and its government is the sole legitimate government on the island. The act of declaring the ‘TRNC’ is ‘legally invalid’ at International Law and the only legitimate State on the island of Cyprus is the Republic of Cyprus.

Bulgaria to open tender for building gas link with Greece in autumn - SEE NEWS

Ministry of Energy/All rights reserved.

SOFIA (Bulgaria), July 25 2017

Bulgaria intends to launch a tender for the construction of a gas interconnection with Greece this autumn, energy minister Temenuzhka Petkova said on Tuesday.

In parallel, Bulgaria also intends to launch a new gas market test this autumn, Petkova said in a press release following a meeting with U.S. ambassador to Bulgaria, Eric Rubin.

The construction of the interconnector Greece-Bulgaria is planned to start in 2018. The link providing for gas flow in both directions is expected to become operational in 2020.

The project is being implemented according to the planned timeframe, Petkova said.

ADFD provides strategic funding for 64 development projects in Egypt worth AED 4 billion - CPI FINANCIAL

Monday 24, July 2017

Georgina Enzer

Abu Dhabi Fund for Development (ADFD) and the Government of Egypt have long enjoyed close and strategic ties.

The constructive cooperation between the two parties continues to promote sustainable development in vital economic sectors that benefit the citizens of Egypt.

To date, the Fund supported Egypt with Abu Dhabi government grants and concessionary loans worth AED 4 billion across 64 development projects. The projects spanned diverse sectors, most notably transport, housing, agriculture and irrigation, energy, industry and mining, education and healthcare. In addition, ADFD owns an 84 per cent stake in Abu Dhabi Tourist Investment Company, a Cairo-based hotel and tourism holding firm.

Egyptian Gas Production Records 3,160 tons in April - EGYPT OIL & GAS / AMWAL AL GHAD

Monday, 24th July 2017

Egypt’s gas production recorded a remarkable increase in April 2017 as it reached 3,160 tons, compared to 2,420 tons in April 2016, due to adding new fields to production and local grid, reported Amwal Al Ghad.

Furthermore, reports of the Central Agency for Public Mobilization and Statistics (CAPMAS) showed that natural gas consumption also largely increased from 2,820 tons in 2016 to 3,340 tons in 2017.

Meanwhile, crude oil and condensates production in the oil and gas sector decreased to 2,660 tons in April 2017, compared to 3,840 tons in the same period of 2016, while oil consumption increased to 3,305 tons in April 2017, compared to 3,200 tons in 2016.

Israel needs a plan B for gas - IN CYPRUS / CYPRUS WEEKLY

July 23, 2017
Gina Cohen

Israel’s Ministry of National Infrastructure, Energy, and Water Resources postponed the oil and gas licence exploration tender for a second time in June, giving a new deadline of November 15. The Ministry of Energy is not at fault. It gets an ‘A’ for having the courage of its convictions, for holding the tender under very difficult circumstances, and for the work, effort and professionalism put into the marketing process. Yet despite the fact that some of the world’s major companies have bid in the tenders held this year in Cyprus, Egypt and Lebanon, they decided to give Israel a wider berth. We must therefore conclude that, under the current circumstances, nothing is about to change that will entice companies to bid by the new deadline of November 15. We need to adopt a new path, as postponing the tender and adopting a ‘more of the same’ approach is unlikely to lead to different results. There are around seven pertinent reasons behind the ongoing postponements of the tender.

Cyprus should seek maritime arbitration to nullify Turkish EEZ claims - CYPRUS MAIL

July 23, 2017

Elias Hazou

‘At the moment there’s the impression that the acreage is disputed’, expert says

CYPRUS should at least look into the possibility of seeking international arbitration regarding the boundaries of its and Turkey’s respective maritime rights around the island, before the situation potentially escalates, an energy analyst has told the Sunday Mail.

“The sooner the better,” said Charles Ellinas.

Things could get hairy next year, when ENI and Total aim to commence exploratory drilling for gas in their block 6 concession, to the southwest of the island, which Turkey claims partially falls within its own continental shelf.

Meantime the Turkish vessel Barbaros Hayreddin Pasa is currently conducting – ostensibly at least – seismic surveys in that very same offshore block.

With the dispute not going away – underscored by Turkey’s encroachments into Cyprus’ Exclusive Economic Zone this month – Nicosia must act, and fast.

Avenues which Cyprus could explore to resolve the matter include the International Court of Justice and the International Tribunal for the Law of the Sea.