Cyprus’ gas export future uncertain, despite discoveries - OFFSHORE MAGAZINE

Jun 3rd, 2019

LONDON – Exploration to date offshore southern Cyprus has proven around 11 tcf of recoverable gas, according to Wood Mackenzie.

Whether the discoveries can be commercialized remains to be seen, said Robert Morris, senior analyst: Caspian and Europe Upstream Oil and Gas.

Cyprus has no domestic gas market only limited potential for development, he pointed out, but there are options for exporting the gas.

One would be through Egypt’s under-used liquefied natural gas (LNG) export infrastructure to the south. This would offer the lowest cost with the fastest time to market and potentially the best netbacks.

But Egypt’s own recent offshore gas finds, including the giant deepwater Zohr field, mean that the LNG facilities are getting busier. This means the earliest for significant spare capacity for Cypriot gas could be 2025 – further if Egypt’s run of successes continue.

Egypt emerging from the doldrums - FREE PRESS JOURNAL

Feb 25, 2017 09:36 am

Sunanda K Datta-Ray

WITH about 28 per cent of the population languishing below a low poverty line, the best news lately was that foreign exchange reserves rose by $2.1 billion in January to touch $26.4 billion against December’s $24.2 billion. More intensive and efficient exploration of oil can make all the difference to a country that was seen at one time as a leader of the Afro-Asian world but has taken a back seat in recent years mainly because of domestic political problems.

Almost as if to repudiate this column’s somewhat gloomy comments about Egypt last week, the country is now celebrating what is billed as the first ever Egypt Petroleum Show. It is the largest oil and gas industry event to take place in North Africa, with over 40 British companies participating. Oil, we are told, might yet overcome all disadvantages and help to revive Egypt’s economy and restore its traditional leadership role.

Trans-Caspian Subsea Gas Pipeline Project Vital For Turkey – OpEd - EURASIA REVIEW

FEBRUARY 24, 2017

Haluk Direskeneli

Turkmenistan has 20+ trillion cubic meters of proven natural gas deposits. Annual gas production is around 60 bcm, where 20 bcm is used in domestic consumption. In the past, neighboring countries Russia and Iran bought natural gas, but these sales are now stopped. Today Turkmenistan can sell gas only to China, which is situated at their east border.

Earlier, Turkmen gas was priced 160 US Dollars per 1000m3, now the gas export price is reduced to 100 US dollars per 1000m3. Natural gas sales revenues have drastically decreased in time. Turkmenistan used to export natural gas to Russia and Iran in the past. Export gas volume was around 40-50 bcm. Now the export figure is down. State agencies plan to build new gas pipelines to reach Afghanistan and Pakistan. But there is no financing secured yet for this important project.