Russia Could Mediate Determination Of Lebanese, Syrian Maritime Borders -Lebanese Minister - URDU POINT / SPUTNIK NEWS

Sat 15th June 2019 | 02:16 PM

BEIRUT (UrduPoint News / Sputnik - 15th June, 2019) Lebanon is aware of Syria's desire to determine maritime borders and Russia can mediate in this process, Lebanese Defense Minister Elias Bou Saab told Sputnik.

"We have the information that Syria wants to determine the maritime borders with Lebanon. Russia is located in this region and specifically on these borders. And it has its own economic interests in this," Bou Saab said.

The defense minister recalled that Russia's Novatek company had won a contract along with other energy companies to develop and extract oil and gas in the territorial waters of Lebanon, adding that this company had also a share in the blocks located in the territorial waters of Syria.

"Given these facts, this company has an interest in delimitation of maritime borders, and thus Russia can play a positive role in this process," Bou Saab added.

Southern European leaders to discuss proposed EastMed pipeline at Med7 Summit - FOREIGN BRIEF

June 14, 2019
Joshua Clarkson

Heads of state from Cyprus, France, Greece, Italy, Malta, Portugal and Spain convene today in Malta for the sixth South EU Summit.

The group, informally known as the Med7, is expected to focus on energy security at today’s conference.

In January, six European and Middle Eastern leaders committed to creating an Eastern Mediterranean regional gas market. The biggest step, however, is the proposed EastMed pipeline, which would bring Levantine gas deposits to European markets via Cyprus, Greece and Italy. The potential 1,900-kilometre pipeline could satisfy 10% of Europe’s energy demand, diminishing the continent’s dependence on Russian energy.

While the EastMed pipeline is still in the planning stages, it could be a geopolitical boon for the EU. Without reliance on Russian energy, a more united front on Ukraine could be established, and Moscow would have less leverage in negotiations with Brussels.

Tests under way to flow Israeli gas via EMG pipeline to Egypt: source - PLATTS

13 Jun 2019 | 10:52 UTC
Stuart Elliott, Editor: Alisdair Bowles 

London - Tests to flow Israeli gas through the East Mediterranean Gas (EMG) pipeline to Egypt are now under way and are expected to be concluded at the end of this month ahead of the startup of significant exports later in the year, an industry source told S&P Global Platts Thursday.

US-based producer Noble Energy and its Israeli partner Delek Drilling -- together with Egyptian-owned Sphinx EG -- in September last year agreed to buy a 39% stake in the idled EMG pipeline for $518 million as part of plans to use the pipeline in reverse for Israeli gas to flow to Egypt.

"Tests are under way and are on track to be completed as scheduled by the end of June. Once that is done, gas from the Tamar field can start to flow through the EMG pipeline on an interruptible basis," the source said.

Noble could not be reached for comment, while Delek Drilling declined to comment.

The pipeline -- which runs for 90 km off the Israeli and Egyptian coasts -- connects the Israel pipeline network from Ashkelon to the Egyptian pipeline network near El Arish.

It started operations in 2008 to flow Egyptian gas to Israel until 2012 when operations were halted as Egypt's gas production began to decline after the Arab Spring the previous year.

Greece’s Energean Bids for EDF Oil & Gas AssetsBy - BLOOMBERG

June 13, 2019, 4:41 PM GMT+3Dinesh Nair and Yaacov Benmeleh

• EDF has been seeking a sale to focus on nuclear projects
• Some other potential suitors have dropped out of bidding

Energean Oil & Gas Plc, the Greek energy producer that sold shares in London last year, is bidding for the oil and gas business of Electricite de France SA’s Italian unit, people familiar with the matter said.

Energean has submitted a final offer for Edison SpA’s exploration and production assets, the people said, asking not to be identified as the matter is private. Some other suitors have dropped out of the process, the people said, asking not to be identified because the information is private.

The business had earlier attracted initial interest from potential bidders including Neptune Energy and Warburg Pincus’s Apex International Energy, Bloomberg News reported in January. Other competitors including Wintershall Dea GmbH, an arm of Mikhail Fridman’s L1 Energy, could also look at the business, people with knowledge of the matter said at the time.

Total mulls expanding exploration in Mediterranean and Red Seas - ENTERPRISE

Thursday, 13 June 2019

French energy giant Total is considering bidding for new oil and gas exploration concessions in Egypt’s Mediterranean and Red Sea territories, chairman and CEO Patrick Pouyanne told Oil Minister Tarek El Molla in a meeting yesterday, Al Shorouk reports. 

The company is also looking at increasing investments in expanding fuel stations and fuel transportation.

Cyprus's Natural Gas Public Company plans FSRU contract for October - PLATTS

10 Jun 2019 | 10:50 UTC
Gary Lakes, Editor: Dan Lalor

Nicosia — Cyprus's Natural Gas Public Company (DEFA) plans to finally sign a contract in October for the installation of an FSRU and relevant infrastructure, following closure of the tender on July 12, an official Cypriot source has informed S&P Global Platts.

In its fourth attempt to award a tender for the supply of natural gas, Defa opened a tender last year. It has extended the deadline several times since "to allow companies interested in bidding sufficient time to put together top-quality proposals so Defa has a better chance of success," the source said.

Last Tuesday, Defa invited expressions of interest for the supply of LNG for the FSRU, which will be connected to the country's main power station at Vassilikos.

"There are two processes in the EoI. One calls for expressions of interest in the LNG SPA, which will involve negotiations for mid-term, 3-5 year LNG SPAs. The second invites expressions of interest for master sales agreements that will enable Defa to procure cargoes from the spot market," the source said.

ICGB signs contract with owner's engineer for Greece-Bulgaria gas link - SEE NEWS

Jun 10, 2019 11:46 EEST
Mario Tanev

SOFIA (Bulgaria), June 10 (SeeNews) - ICGB, the company developing the Gas Interconnector Greece-Bulgaria project, said that it has signed a 5.67 million euro ($6.41 million) contract with the TIBEI consortium, which won the tender for selecting an owner's engineer for the project.

The contract was signed on May 20, according to a notice by the ICGB, published on Friday.

The TIBEI consortium comprises Belgium's Tractebel Engineering S.A, Italy's Tractebel Engineering SRL, Austria's Intber GmbH and Bulgarian companies Ipsilon Consult and Bulgaria Engineering.

"The commitment involves assisting the Contracting Entity in the implementation of the project during the construction phase until the pipeline enters into operation and management of all the main contracts related to the project - including the contract for the supply of line pipes and the contract for the award of design, procurement and construction," ICGB has said previously.

EGAS to Boost Natural Gas Production to 4.8 bcf/d by 2022 - EGYPT OIL & GAS

Sunday, 9th June 2019

The Egyptian Natural Gas Holding Company (EGAS) aims to increase gas production by 4.8 billion cubic feet per day (bcf/d) by June 2022, bringing the total gas production in Egypt to about 11.3 bcf/d, Amwal Al Ghad reports.

This comes as the oil and gas sector plans to develop gas fields through 19 projects with a production capacity between 4.5 and 4.8 bcf/d, a source from EGAS said.

The development work of gas fields in the past four years has contributed to unprecedented levels of increase in production, with the current total production of natural gas reaching 6.5 bcf/d, the source added, pointing out that the exploration work in the Red Sea will also bolster gas production.

Scrutinising the Aphrodite gas deal - CYPRUS MAIL

June 9, 2019

Charles Ellinas

This week’s deal with Noble, Delek and Shell divvying up the profits from the Aphrodite gas-field is not quite what it seems at first glance

The good news is that an agreement has been reached between the government and the Noble Energy, Delek and Shell joint venture (JV) on a revised Production Sharing Contract (PSC) for the development of the Aphrodite gas-field.

Based on published reports the agreed profit split is now about 57 per cent to Cyprus and 43 per cent to the JV, when the price of oil is $70/barrel – with Cyprus’ share going up when the oil price goes up and down when the oil price goes down. With long-term forecasts estimating the average oil price range to be $60-$70/barrel, there can only be a downside for Cyprus. That’s why the JV was so keen on this renegotiation.

There are also new provisions to ensure development of Aphrodite within a strict timetable, with penalties to the JV if it is not. This of course is what the JV wants too – to develop the project as soon as possible.

Egypt allows Eni, BP to export gas through Edco liquefaction factory - MENAFN / DAILY NEWS EGYPT

JUNE/9/2019 3:49:15 PM

(MENAFN - Daily News Egypt) The ministry of petroleum has allowed Eni and British Petroleum (BP) to export gas from Zohr and North Alexandria fields through Edco liquefaction factory (Damietta) in accordance with the development agreements of these projects.

A source from the petroleum sector told Daily News Egypt that the government has allowed Eni and BP to export gas after meeting the needs of the local market and achieving production surplus.

He added that Eni and BP's agreements to develop Zohr and North Alexandria stipulate that the foreign partners can export gas to international markets after obtaining the approval of the ministry of petroleum.

The source explained that the ministry's decision came after it ensured that the foreign partners will adhere to the development plan of the gas fields.

Foreign companies are keen to export part of their share in concession areas to make bigger profits because the liquefied gas shipments are sold according to international prices.

Italian Eni owns around 26% of the Damietta liquefaction plant after buying 50% of Union Fenosa's share, which makes it a shareholder of the liquefaction factory.