Friday, June 26, 2020

Cyprus’ Natural Gas Infrastructure Company secures €80 million financing by EBRD - IN-CYPRUS / CYPRUS NEWS AGENCY

26.JUNE.2020

European Bank for Reconstruction and Development (EBRD) gave the green light for 80 million euros funding to the Natural Gas Infrastructure Company of Cyprus (ETYFA). The Loan Facility will be covering the construction of the Liquefied Natural Gas (LNG) Import Terminal in Cyprus. The financing is of a 20-year duration.

According to an ETYFA’s press release, funding is additional to ETYFA’s already approved financing by the European Investment Bank (EIB). EIB has approved a 150-million-euro funding to ETYFA on June 11th. The total capital expenditure budget of the project is 289 million euros, while ETYFA has already secured a 101 million euros subsidy by the European Commission, through “Connecting Europe Facility” (CEF) and 43 million euros, from the participation of the Electricity Authority of Cyprus (EAC) in the shareholding structure of ETYFA.

“Both the decision made by EIB, and the decision by EBRD highlight once again the trust of the European institutions towards ETYFA and energy authorities in Cyprus”, the press release points out.

The project is considered of major importance for the energy future of Cyprus.

Monday, June 22, 2020

Subsea structures in place at Karish offshore Israel - OFFSHORE MAGAZINE

Allseas' Solitaire & TechnipFMC's Normand Cutter at Karish
22 Jun 2020

LONDON – TechnipFMC and Allseas have completed two major components of Energean’s Karish gas project in the Mediterranean Sea, offshore Israel.

Allseas’ Solitaire completed installation of the 90.3-km (56-mi), 30-in. and 24.in gas sales pipeline in water depths of up to 1,700 m (5,577 ft).

The full program included placement of a tie-in manifold structure in 72 m (236 ft) water depth.

On average, excluding the beach pull, the rate of laying was 4,578 m/d (15,019 ft/d).

TechnipFMC’s construction support vessel Normand Cutter installed the production manifold, subsea isolation valve foundations and structures.

During 4Q, installation should get under way of the three sets of risers - 2 x10-in. and 1 x 16-in. - that will connect the three producing wells to the FPSO and then to the gas sales pipeline, finishing in 1Q 2021.

Currently the Karish development is around 80% complete, Energean said.