Winners and losers as energy minister halts gas exploration - THE JERUSALEM POST / GLOBES

DECEMBER 17, 2021
Guy Lieberman

The announcement by Energy Minister Karin Elharrar yesterday that her ministry will not award licenses for natural gas exploration in Israel's Economic Zone in 2022 set off a storm. 

Her predecessor at the ministry, Yuval Steinitz, rushed to react on Twitter, calling on her to "reconsider" the decision, and claiming that "in the green USA of President Biden they are continuing to explore for natural gas in hundreds of areas on land and offshore, as they are in Canada and in most countries of Western Europe."

The Association of Oil and Gas Exploration Industries in Israel was also quick to react, and pointed to the energy crisis in Europe as an example of the need "to continue exploring for further discoveries of natural gas."

Elharrar responded that it was a matter of "one year only", during which her ministry will devote its attention to the most important need at this time, which is renewable energy. In her announcement, the minister stated that her ministry was forming a new department to deal with renewable energy.

Can Egypt Become A Global LNG Power? - OILPRICE.COM

Dec 13, 2021, 2:00 PM CST
Cyril Widdershoven

• As demand for LNG around the world soars ahead of winter, Egypt is taking full advantage of high prices
• As well as the financial reward of increased exports, Egypt appears to be using its LNG supply to influence Turkey
• In Turkey, support for Erdogan is dwindling amidst high energy prices and rising inflation, forcing him to open up to both the UAE and Egypt

Egypt’s long-suffering LNG industry is finally experiencing some success as it takes advantage of European gas market constraints and exploits regional geopolitical developments. Cairo’s dream of becoming a global LNG player was derailed by a combination of the Arab Spring, conflict with Turkey, and then COVID demand destruction. Now, however, the country’s LNG industry is poised for major growth, with its largest producer, EGAS, having just offered a cargo on a free-on-board (FOB) basis for loading over December 28 and 29 from its Damietta LNG plant. The EGAS LNG tender will be closing on December 13, sources have stated. The last EGAS LNG tenders, which closed on November 29, were successful, as the company sold four out of five spot cargoes for loading between December and February.