Israel to begin gas exports to Egypt within four months: Minister - AL ARABIYA / REUTERS

Wednesday, 24 July 2019, KSA 14:11 - GMT 11:11

Israel will begin natural gas exports to Egypt within four months, Energy Minister Yuval Steinitz told Reuters on Wednesday.

He also said that a deal to buy stakes in the East Mediterranean Gas Company’s pipeline between the two countries will be completed “within weeks” and that more connections could be built between them.

Steinitz also said that more economic pressure should be applied on Iran, and that it “must be stopped.”

Exxon Is in Talks Over Floating LNG Partnership in Israel - BLOOMBERG

April 10, 2019, 8:59 PM GMT+3Yaacov Benmeleh

• Project reflects Exxon’s growing ambitions in East Med region
• Talks come as unofficial energy boycott on Israel seen fading

Exxon Mobil Corp. is in discussions to build a platform that would expand the export reach of Israel’s biggest natural gas field, according to people familiar with the matter. Israeli gas stocks rose.

The world’s largest publicly-traded oil and gas company is in talks with the firms developing Israel’s Leviathan reservoir to build a floating liquefied natural gas ship, the people said, requesting anonymity because the matter is private. Such a project would allow the Leviathan partners to export to countries not reachable with pipelines and avoid the need to build expensive infrastructure to connect to LNG facilities in Egypt.

It’s possible the discussions ultimately won’t lead to a partnership, the people cautioned. An Exxon representative declined to comment on its intentions in Israel. The company recently made a major gas discovery nearby, off the coast of Cyprus.

“It’s too early to comment on specific development and production timelines” for the Cyprus discovery, the representative said.

Despite considerable gas discoveries in the Eastern Mediterranean region over the past decade, viable export routes have proven tough to find and global energy firms haven’t rushed in. The Leviathan partners have signed deals to meet surging demand in Egypt, Jordan and Israel, but haven’t yet found a way to export to Europe or East Asia.

Things Are About to Change: Oil and Gas Have Been Found in the Eastern Mediterranean - THE NATIONAL INTEREST

March 10, 2019

Tony Chavez

Large quantities of oil and natural gas have been discovered in the East Med and the race to extract them has begun. These hydrocarbon finds hold the potential to build regional stability and to bolster the economies of important US allies and partners, all of which is in the interest of the United States. But these discoveries could just as easily stoke further instability and conflict if nations default to historic resentments and if regional powers jockey to monopolize on or block access to this strategic treasure.

Extending from Israel and Egypt in the East and South to Turkey, Greece and Italy in the North and West, the Eastern Mediterranean has long been an economically dynamic and politically important region for the United States and its NATO allies. It is about to become even more important.

Large quantities of oil and natural gas have been discovered in the East Med and the race to extract them has begun. These hydrocarbon finds hold the potential to build regional stability and to bolster the economies of important U.S. allies and partners, all of which is in the interest of the United States. But these discoveries could just as easily stoke further instability and conflict if nations default to historic resentments and if regional powers jockey to monopolize on or block access to this strategic treasure.

Israel attacks Total for investment stance - FINANCIAL TIMES

LONDON, 10 February 2019

David Sheppard and David Keohane

Israel has attacked French energy major Total after its chief executive told the Financial Times that it was too “complex” a country to invest in.

Israel’s energy minister Yuval Steinitz, who was visiting London to drum up interest in the country’s next gas licensing round and discuss energy co-operation, said companies such as Total that refused to invest in Israel were living in “past decades” and were in hock to the “tyranny and dictatorship” of Tehran.

“I reject it with two hands, I think this is a miserable view,” Mr Steinitz told the Financial Times.

“We will consider our reaction to this as it is totally unacceptable, to boycott [Israel].”

Patrick Pouyanné, Total chief executive, told the FT in an interview that it was too “complex” to invest in Israel despite the country’s growing role as a gas producer, indicating his company’s relationships with other states in the Middle East was a sticking point.

Natural gas fields give Israel a regional political boost - THE WASHINGTON POST / ASSOCIATED PRESS

January 23 at 2:50 AM
Aron Heller

JERUSALEM — A decade after discovering natural gas fields off its Mediterranean coast, Israel is starting to feel the geopolitical boost.

Its newfound riches have fostered economic bonds with its neighbors, tightening relations with Arab allies, and built new bridges in a historically hostile region — even without significant progress being made toward peace with the Palestinians.

Last week’s inclusion of Israel into the Eastern Mediterranean Gas Forum in Cairo — a consortium aiming to cut infrastructure costs and lower prices — marked the first time Arab countries accepted Israel into such a regional alliance, sparking excitement in the country that its long-held hope of finally also making “economic peace” with Egypt and Jordan was fast approaching.

“I think this is the most significant economic cooperation between Egypt and Israel since the signing of the peace treaty 40 years ago,” Israeli Energy Minister Yuval Steinitz told The Associated Press during his visit. “The discovery of significant gas fields in the eastern Mediterranean has also political value because it brings all of us ... together to cooperate with each other.”

Cyprus needs to build East Med security alliance to support energy future - FINANCIAL MIRROR

23 December, 2018 

Cyril Widdershoven

The growing regional energy cooperation between Israel, Cyprus and Greece has been given another boost this week.

During the 5th trilateral summit, Israel’s PM Benjamin Netanyahu, Cypriot President Nicos Anastasiades and Greek PM Alexis Tsipras stated in the Israeli city of Beersheva that they will sign an agreement early 2019 to start the construction of an offshore East Mediterranean gas pipeline to Europe.

As indicated before, the $7 bln pipeline will compete with Russian pipeline gas exports to European markets in a move to quell the growing Russian stranglehold.

The commercial and financial viability of the project will be studied further during the upcoming feasibility study, partly financed by the EU, which has pledged $100 million already.

Geopolitics: How an energy-friendly future will bolster the region - THE JERUSALEM POST

November 17, 2018 00:37
Eytan Halon

National Infrastructure, Energy and Water Minister and security cabinet member Yuval Steinitz has held a wide range of senior ministerial and Knesset committee positions during nearly two decades in Israel’s parliament. Yet overseeing what can only be described as a revolution in Israel’s energy sector since 2015 might prove to be his most memorable task.

Until major discoveries of natural gas off Israel’s coastline in recent years, few would have dreamed of natural resource-poor Israel supplying former adversaries Jordan and Egypt with natural gas valued at $26 billion.

With ambitious plans to construct a 2,000-kilometer pipeline to supply eastern Mediterranean gas to Europe, and with scientific predictions of additional vast natural gas fields still to be discovered in the Levantine Basin, Israel’s unexpected gas boom to date may be only the tip of its national energy iceberg.

Energy supply and dependence, particularly Arab oil, has always had an important impact on diplomatic relations worldwide. Now, for the first time, Israel is enjoying the fruits of its role as an energy supplier, both domestically and abroad.

Speaking to The Jerusalem Post in early November ahead of his appearance at the Post’s Diplomatic Conference on November 21, Steinitz, who worked as a University of Haifa lecturer in philosophy prior to entering politics, spoke not of theorems or logic but of his vision for Israel’s energy future.

Israel, Cyprus, Greece push East Med gas pipeline to Europe - ISRAEL HAYOM

Wednesday May 9, 2018

The leaders of Israel, Cyprus and Greece said Tuesday they are determined to push ahead with plans for a pipeline that would supply east Mediterranean gas to Europe as the continent seeks to diversify its supplies.

Prime Minister Benjamin Netanyahu called the East Med pipeline a "very serious endeavor" that was important for Europe, which is looking for new sources of energy.

Cypriot President Nicos Anastasiades said the three countries aim to sign an agreement this year to nudge the pipeline project forward.

"This project creates a rivaled network of common interests and clear strategic benefit for our countries and beyond since its implementation will tangibly contribute to the security of the European Union's energy supply," Anastasiades said.

Greek Prime Minister Alexis Tsipras called the project "emblematic" of the cooperation between the three countries.

The EU is looking favorably on the project, too, since the 28-member bloc has forked out €34.5 million ($41 million) to fund a technical study, the Cypriot president said.

Cyprus, Greece, Israel recommit to a way forward - KNEWS / KATHIMERINI

8 May 2018, 15:00

President Nicos Anastasiades says a ‘code of conduct’ has been established between Cyprus, Greece, and Israel, following the completion of a trilateral meeting in Nicosia that yielded a long declaration, and paved the way for another meeting before the year is out to discuss an ambitious EastMed pipeline.

The meeting was held at the Presidential Palace, where Anastasiades hosted Greek Prime Minister Alexis Tsipras and Israeli Prime Minister Benjamin Netanyahu.

A declaration was issued saying the leaders "express our commitment to continue strengthening the cooperation between our countries in the framework of a trilateral partnership encompassing an ever increasing number of areas of common interest and, in the process, contribute to the promotion of peace and prosperity in the Eastern Mediterranean and the wider region."

According to political analysts at Kathimerini, the two dominant issues emerging from the meeting had to do with energy planning in connection with latest developments in the Cyprus problem as well as discussion on pushing forward for the East Med gas pipeline.

Geopolitical factors to restrict ELPE tender participation - ENERGY PRESS

18/04/2018

Geopolitical factors constraining the range of participants in order to safeguard matters such as national and regional security will inevitably be incorporated into the terms of an international tender offering 50.1 percent of ELPE (Hellenic Petroleum), expected to be announced by TAIPED, the state privatization fund, any day now, possibly even today.

Though the terms to be applied to the ELPE tender remain unclear, Russian, Iranian and Chinese players, for example, stand little chance of emerging as candidates, given the current geopolitical climate in the southeast Meditteranean, polarized by US-Russian tension.

Also, European powers such as Germany, France and Italy have been requesting increasingly strict measures from Brussels for protection of strategically important European enterprises against Chinese acquisitions. ELPE belongs to this category.

Israeli pipeline, once a link to Iran, will remain a mystery - REUTERS

DECEMBER 31, 2017 / 2:50 PMReporting by Ari Rabinovitch, editing by Larry King

JERUSALEM (Reuters) - An oil pipeline company established decades ago by Israel and Iran, and a new Israeli company that is meant to replace it, can continue to operate secretly, an Israeli parliamentary committee ruled on Sunday.

The Eilat-Ashkelon Pipeline Co (EAPC) was a joint venture set up in 1968, when the two nations were friendly, to transport Iranian oil via Israel to the Mediterranean. Ties were cut after Iran’s 1979 Islamic revolution, and the enemies are now locked in arbitration that could be worth billions of dollars.

Indian Oil Minister tells "Reuters": We'll bid for Israel's blocks - GLOBES

4 Sep, 2017 17:36
Globes correspondent

“We will definitely bid for Israel’s oil-and-gas blocks,” Indian Oil Minister Dharmendra Pradhan told "Reuters."

“We will definitely bid for Israel’s oil-and-gas blocks,” Indian Oil Minister Dharmendra Pradhan has told "Reuters."

India and Israel have developed close economic and political ties over the past few years, which have included the visit of Prime Minister Narendra Modi in July, and the signing of major defense deals such as the $2 billion agreement signed by Israel Aerospace Industries (IAI) to supply India with advanced missile systems.

Now Pradhan has told "Reuters" that the Indian state owned Oil and Natural Gas Corp. (ONGC) will bid in the latest auction of 48 offshore blocks, which closes in November. "Reuters" also revealed that a high-ranking delegation from India visited Israel last month "to discuss taking part in the tender for blocks in the Mediterranean Sea and Israeli officials said they were pleased with the visit."

The Golden Age of Natural Gas - THE AMERICAN INTEREST

August 18, 2017
Jamie Horgan & Agnia Grigas

Thanks to the American shale boom and a newly globalized market, natural gas is changing geopolitics around the globe.

Jamie Horgan: I’m here with Agnia Grigas, a senior fellow at the Atlantic Council and author of the new book, The New Geopolitics of Natural Gas. Agnia, thanks for taking the time to talk with me today.

Agnia Grigas: Thank you, Jamie. It’s a pleasure to be here.

JH: In your book, you look at the transition to a new era of gas that you characterize as “a golden age.” What were the characteristics of the old era of gas, and what’s changed?

AG: Throughout the 20th century, natural gas was a much more localized commodity than oil, due to the difficulties of transporting it over long distances and across seas and oceans. It was also a much more politicized commodity, precisely because it was so difficult to transport. Oftentimes, gas-exporting and gas-importing countries had to forge long-lasting trade relationships with each other, co-investing in land-based infrastructure.

But within the past decade, things have changed. First, trade in LNG (liquefied natural gas) has grown, because it is easy to transport across the sea—and it’s now at its highest level in history. Second, the market has become much more liquid, largely due to the U.S. shale revolution flooding it with supplies. In addition, American exporters support flexible gas trade, which means more spot and short-term trading rather than the traditional long-term, oil-linked contracts.

Iran, Turkey, Russia Sign Oil, Gas Investment Agreement - EURO PETROLE / NIOC

15/08/2017 

Iran, Russia and Turkey have signed an agreement for joint investment in oil and gas development projects.

The agreement was signed in Moscow on Tuesday between Iran's Ghadir investment company, Russia's Zarubezhneft oil and gas intermediary and Turkey's Unit International.

It is considered the first tripartite agreement of partnership and investment between Iranian and foreign companies, under which the parties will set up joint ventures to finance projects in and outside Iran.

Iran's Ghadir Exploration and Production Company will lead the consortium, while each company will allocate equal investment shares in the jointly-financed projects.

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.

The new geopolitics and Greek perspective in the Eastern Mediterranean - MODERN DIPLOMACY

JUL 03, 2017
GEORGE X. PROTOPAPAS 

The Eastern Mediterranean has become the epicenter of maritime and geopolitical developments as great powers, regional actors antagonise for influence and access to energy resources. Greece a traditional maritime nation could play a constructive role on the stabilisation of the region.

Since 2012 US has decided to intensify its role in Asia – Pacific, neglecting, in a sense, the frozen issues in the Eastern Mediterranean (East Med). Accordingly, the US reduced the Six Fleet’s naval presence, which has currently a single command ship in Italy and four Aegis destroyers. Naturally, the reason for the Pacific shift has been the emergence of China that invests huge resources at sea. What is important in our East Med context, is that the frozen and unfinished business in the East Med have costed dearly and the bill has arrived sooner than expected. Previously inactive actors (Iran, Russia) and Turkey have now become active. Each one of them are squeezing themselves in to get a piece of the pie; a pie that has been created and (peculiarly) left unattended by its maker: the US. Paradoxically, none of these actors has ever been genuine maritime nation or maritime power. The concepts of maritime nation and power integrate the cultural element (history and tradition), geography, the commercial activities (commercial fleet) and naval power.

No, Europe Won't Get Turkmen Gas by 2019 - THE DIPLOMAT

June 02, 2017

Casey Michel

Turkmenistan’s no closer to seeing its gas reach the European markets it once envisioned.
A few years ago, as Europe roiled in the aftermath of Russia’s invasion of southern Ukraine, representatives from Brussels cast about for any and all alternatives to gas imports from Russia. Including domestic fracking and LNG terminals, European officials began to push for the completion of the Southern Gas Corridor, which would transit Azerbaijan’s gas stock toward European markets via both the Trans-Adriatic (TAP) and Trans-Anatolian (TANAP) pipelines.

How natural gas could be a geopolitical game-changer in the Mideast (Video 36 min) - FRANCE24

2017-05-12
Marine Pradel

It's a discovery that could easily shake up the geopolitical order in the Middle East. Deep under the eastern Mediterranean lies the largest natural gas basin ever found on Europe's doorstep. But the gas fields often coincide with disputed borders between rival nations. Our reporter Marine Pradel investigated this lucrative resource, which everyone wants a piece of.

Turkey’s floating LNG imports deliver cheaper gas and energy security - LNG WORLD SHIPPING

Mon 03 Apr 2017

Turkey’s new floating storage and regasification unit (FSRU) will alleviate strain on seasonal imports and enables the country to diversify its sources of supply, writes Anders Norlen

Turkey’s gas consumption is rising fast and sharp seasonal demand swings and limited storage mean supply is tight over winter. Deploying FSRUs offers a solution to Turkey’s problems.

The Turkish gas market has grown over the last 10 years from 27bcm in 2005 to 48bcm in 2016. About 70 per cent of this demand growth has come from increased gas use in power and industry, reflecting the last decade’s robust economic growth and a 30 per cent hike in winter heating demand in the residential and commercial sector.

Turkey returns to Russian gas- VESTNIK KAVKAZA

Mar 29 - 4:20 pm

Turkey continues to increase the volume of Russian gas purchases. The trend, which has been observed since the last autumn, continues to gain momentum. According to the latest data, in January-February 2017, Turkey increased Russian's gas imports by 16.6% compared to the same period in 2016.

The expansion of cooperation in the energy sphere was discussed by the Presidents of Russia and Turkey, Vladimir Putin and Recep Tayyip Erdogan, during the Turkish leader's visit to Moscow in early March. Erdogan said then that the Russian-Turkish energy cooperation is of great importance both in terms of natural gas and in terms of other elements, and in general this process is increasingly developing.