Daily exportation of 250m cubic feet of gas to Jordan electricity plant to be resumed in early 2019 - DAILY NEWS EGYPT

Saturday September 22, 2018
Mohamed Adel

The Ministry of Petroleum has concluded the final negotiations with Jordan regarding signing a new agreement to export Egyptian gas to Jordan electricity plant, in order to supply nearly 250m cubic feet of gas starting next year.

An official at the Ministry told Daily News Egypt that a new agreement would be signed with the Jordanian side to export about 250m cubic feet of gas daily, with prices different from prices originally stipulated in the previous agreement.

The official pointed out that Egypt would continue exporting natural gas to Jordan in early 2019 through the pipeline linking Egypt and the Jordanian lands, which would be the start of turning the country into a regional hub to distribute energy, and then later achieve self-sufficiency of gas.

The recent talks between the Egypt’s minister of petroleum and his Jordanian counterpart included agreeing on the return of Egyptian gas to Jordan, in addition to amending some articles in the agreement of gas exportation.

The Jordanian Ministry of Energy said in a previous statement that the agreement stipulates that about 10% would be exported from Egypt to generate electricity. This came following the visit of the Jordanian Minister of Energy and Mineral Resources Hala Zawati to Egypt last week.

ExxonMobil exec says 'happy' to be in Cyprus for gas drilling - KATHIMERINI

FRIDAY SEPTEMBER 21, 2018 16:29

ExxonMobil is aware of the particular geopolitical situation in the region of Cyprus, Tristan Aspray, the company’s vice-president for Exploration in Europe, Russia and the Caspian, said during an investment forum hosted by the Cyprus Investment Promotion Agency at Bloomberg's European headquarters in London on Friday.

Asked about Turkey’s threats towards Cyprus for the planned drilling by an Exxonmobil-led consortium this autumn, Aspray said existing problems are a matter to be resolved by the governments in question.

“We are happy to be in Cyprus,” he said, adding his company is at the final stages of preparation for the two exploratory drills in Block 10, located southwest of the island.

Asked by Greek broadcaster SKAI when drills will start, he reiterated that they are planned for the last quarter of the year, but didn’t provide a specific date.

Turkey has repeatedly warned it would stop international oil companies from drilling for gas in Cyprus’ exclusive economic zone, claiming it should receive a share of any potentially lucrative findings.

Oil and gas company SDX Energy confirms talks with BP to buy assets in Egypt - NASDAQ / REUTERS

September 20, 2018, 09:38:00 AM EDT

North African-focused oil and gas company SDX Energy on Thursday confirmed that it was in discussions with BP Plc to buy a package of assets in Egypt.

London-listed SDX said the acquisition would constitute a reverse takeover.

SDX said its shares have been suspended from trading on London's junior market, AIM, with immediate effect and will remain suspended until an admission document has been published or the company confirms that a deal is not proceeding.

Reuters reported earlier in the year, citing banking sources, that BP is seeking buyers for its stake in a 50-year-old oil and gas business in Egypt, then estimated to be worth around $500 million.

It was not immediately clear which assets SDX was in talks with BP over.

Earlier in the day, oil and gas explorer and producer SOCO International said it signed a deal to buy privately-owned Merlon Petroleum El Fayum Company for about $215 million. Merlon holds the operated working interest onshore El Fayum in Egypt.

Cyprus Pipeline Deal With Egypt Brings Gas Step Closer to Europe - BLOOMBERG

September 19, 2018, 12:27 PM GMT+3

Georgios Georgiou and Ahmed Feteha

• Gas would flow from Aphrodite field to Egyptian LNG plants
• Countries committed to maintaining good conditions for project

Egypt and Cyprus signed a deal that will eventually allow natural gas found in the Aphrodite field to be sold to mainland Europe, boosting plans to turn the Eastern Mediterranean into an energy hub.

Cyprus and Egypt committed to establishing and maintaining good conditions for building a gas pipeline between the two countries, including the timely issuance of permits, Cypriot Energy Minister Georgios Lakkotrypis told reporters at a signing ceremony in Nicosia. The accord will allow further exploration in the region, Egypt’s Oil Minister Tarek El-Molla said.

Under the plan, gas will flow to Egypt from the Aphrodite field, which was discovered by Noble Energy Inc. and contains an estimated 4.5 trillion cubic feet of gas. Egypt is also nearing an agreement to receive gas from Israel’s Tamar and Leviathan deposits, operated by Israel’s Delek Drilling as well as Noble. Supplies would be directed to LNG plants in Egypt, some 400 miles (645 kilometers) south of Cyprus.

Remarks by the Minister of Energy, Mr Y. Lakkotrypis, at the signing of the agreement between Cyprus and Egypt for the submarine natural gas pipeline - PRESS AND INFORMATION OFFICE, REPUBLIC OF CYPRUS

19-SEPT-2018 12:01

On the occasion of the signing of the Intergovernmental Agreement, between the Republic of Cyprus and the Arab Republic of Egypt, concerning a direct submarine natural gas pipeline, I welcome to Cyprus my good friend, Egypt’s Minister of Petroleum and Mineral Resources, Mr Tarek El Molla, as well as his associates. I also extend a warm welcome, on behalf of the Government of Cyprus, to the Head of the International Relations and Enlargement Unit, of the Directorate-General for Energy of the European Commission, Mrs Anne-Charlotte Bournoville, and, of course, to the representatives of our partners in the “Aphrodite” natural gas field, the consortium of Noble Energy, Shell and Delek.

Today’s signing is an important milestone, not only for Cyprus but also the entire Eastern Mediterranean region. It constitutes, for Cyprus, another crucial step towards its goal to efficiently exploit the underwater wealth in its Exclusive Economic Zone (EEZ), and specifically gas from “Aphrodite”, for the benefit of all Cypriots. In addition, it reinforces the joint efforts by the countries in the Eastern Mediterranean to establish the synergies required for attracting the multibillion infrastructure investments for hydrocarbons production and transport.

Cyprus, Egypt sign gas pipeline agreement - CYPRUS MAIL

TEKMOR note: Great news for the region,not just Egypt & Cyprus.

SEPTEMBER 19, 2018

George Psyllides

Egypt and Cyprus on Wednesday signed an agreement for the construction of an underwater pipeline to export natural gas to Egypt.

The deal was signed at the presidential palace by Energy Minister Yiorgos Lakkotrypis and Egypt’s Oil Minister Tarek el Molla.

Lakkotrypis said the agreement aimed at ensuring the timely and safe development, construction, and operation of an underwater pipeline directly to Egypt through the two countries’ exclusive economic zones.

Cyprus, Egypt Set to Sign Deal for Offshore Gas Pipeline - NEW YORK TIMES / ASSOCIATED PRESS

Sept. 18, 2018

NICOSIA, Cyprus — Europe stands to gain from an agreement Egypt is set to sign with the Mediterranean island nation of Cyprus to pipe offshore natural gas to processing plants in the north African country where it will be liquefied for export, Egypt's oil minister said Tuesday.

Tarek el-Molla said that under the terms of the agreement, gas off Cyprus could also be used for Egypt's domestic needs.

"So it is really a way to have ... good, win-win positions for not only Cyprus and Egypt, but also for Europe," El-Molla told reporters after talks with Cypriot President Nicos Anastasiades.

Cyprus' energy minister, Georgios Lakkotrypis, called the agreement— to be signed Wednesday — a first of its kind for the region that could bolster Europe's energy security.

Lakkotrypis said the agreement could act as an example for other neighboring countries to offer oil and gas companies the kind of security on their investment so they can proceed with projects worth billions.

The Cypriot minister said the agreement concerns building a pipeline from the Aphrodite deposit — estimated to contain around 4.5 trillion cubic feet (130 billion cubic meters) of gas — to Egypt. But it can apply to other gas fields that may be discovered off the island in the future.

"This is a European pipeline because the natural gas that will be conveyed to Egypt from Aphrodite, after the commercial agreements are completed, will find its way to Europe in liquefied form," Lakkotrypis said.

Talks to hammer out a commercial deal for the pipeline will start soon, he said.

Italian company Eni has discovered another gas deposit southwest of Cyprus, but its size hasn't been determined yet. ExxonMobil will begin a hydrocarbon search off Cyprus later this year. France's Total is also licensed to search for gas.

Cyprus and Egypt geared up to sign pipeline agreement - CYPRUS MAIL

Lakkotrypis (R) welcoming El Molla (L) in Cyprus

September 18, 2018 

Peter Michael

Cyprus and Egypt will sign an agreement for an underwater natural gas pipeline on Wednesday, set to be the first of its type for the region, Energy Minister Yiorgos Lakkotrypis said on Tuesday.

Lakkotrypis and his Egyptian counterpart Tarek el Molla had held a meeting in the evening with President Nicos Anastasiades, where they informed him about the negotiations regarding the bilateral pipeline agreement.

A representative from the European Council will also be present at the signing ceremony to be held on Wednesday.

Following the meeting, the president said in a tweet that the agreement for the transfer of natural gas from the Aphrodite field in Cyprus’ exclusive economic zone “is an important milestone” for the field’s exploitation.

“We are looking toward the establishment of a dedicated corridor that will consist of different infrastructures to supply gas to the EU from the Eastern Mediterranean,” Anastasiades tweeted.

Socar, Qatari firm proposals for Crete energy sufficiency issue - ENERGY PRESS

17/SEPT/2018

LNG usage and the establishment of a floating regasification terminal for gas-fueled electricity generation at power stations are the common factors of at least two proposals to be presented this week to RAE, the Regulatory Authority for Energy, as possible solutions for the Crete’s looming energy shortage problem as of 2020.

An exemption to EU law concerning power station emission limits for local high-polluting units, such as those operating on Crete, is set to expire in December, 2019.

An Athens-Crete interconnection plan that would resolve resulting power insufficiency issues on the island has fallen behind schedule and prompted the need for solutions until the project’s launch.

Opinion writers are mad we are losing at int’l arbitration - ENTERPRISE

Monday, 17 September 2018

Opinion writers, unhappy Egypt is “losing” at int’l arbitration, simply miss the point: Since the USD 2 bn ruling handed down by the International Centre for Settlement of Investment Disputes in favor of Union Fenosa, opinion writers have expressed frustration at this “losing streak.” Ziad Bahaa El Din is urging in Al Shorouk the government to review all its oil and gas contracts to avoid losing future arbitration hearings. Mohamed Saleh concurs in AMAY, urging the government to seek the expertise of legal minds. AMAY’s Newton is complaining about the size of the loses, which he claims have reached EGP 38 bn, while AMAY’s Mohamed Abu Al Ghar is suggesting that the officials who have signed the contracts to be corrupt.

All four miss the point: None of them explain to their readers why we failed to meet our natural gas export obligations (it’s called “force [redacted] majeure” for a reason, people) —and none get the point that settling outstanding disputes is key to Egypt’s aim of emerging as the eastern Med’s premier energy hub.

Egypt signs two new oil drilling agreements - EGYPT INDEPENDENT

September 16, 2018 / 6:56 pmHend El-Behary

The Ministry of Petroleum and Mineral Resources has signed two new oil and gas exploration agreements to explore two deep water areas at the Mediterranean Sea and Western Sahara with Canadian, British, Dutch, Malaysian and Kuwaiti companies, for a minimum investment of more than US $ 1 billion.

The first agreement is with the Egyptian Petroleum Authority, Shell International and Malaysia’s Petronas companies in the deep West Delta maritime region at the Mediterranean, with investments of about $ 1 billion to begin drilling eight new wells.

The second agreement is with the Petroleum Authority, the Kuwaiti energy companies, the Canadian Dover and Rockhopper to explore the Western Sahara with investments of $10 million and a $2 million signing grant to drill four wells.