Maersk sells its 50% stake in Egyptian Drilling Company to EGPC - ENTERPRISE

Tuesday, 19 December 2017

Maersk Drilling agreed to sell its 50% stake in Egyptian Drilling Company to the EGPC for USD 100 mn, Reuters reports. The cash transaction leaves the EGPC as the sole shareholder of Egyptian Drilling Company.

Dec 18 (Reuters) - MAERSK DRILLING, UNIT OF A. P. MOLLER-MAERSK, SAYS

* IT AND AND EGYPTIAN GENERAL PETROLEUM CORPORATION HAS SIGNED AN AGREEMENT WHEREBY EGPC WILL ACQUIRE A.P. MOLLER - MAERSK‘S 50 PERCENT SHAREHOLDING IN EGYPTIAN DRILLING COMPANY FOR 100 MILLION DOLLARS IN AN ALL-CASH TRANSACTION

* FOLLOWING THE TRANSACTION EGPC WILL BECOME SOLE OWNER OF EDC AND WILL AS PART OF THE AGREEMENT TAKE OVER THE ENTIRE PORTFOLIO, OBLIGATIONS AND RIGHTS Further company coverage: (Copenhagen newsroom)

Greece expects minimum $456 mln offers in gas grid sale - newspaper - REUTERS

Mon Jul 10, 2017 | 7:28am EDT

Greece expects potential investors will offer at least 400 million euros ($456 million) for a majority stake in its gas grid operator DESFA, Energy Minister George Stathakis said in an interview with Naftemporiki newspaper.

Greece, under pressure by EU lenders to conclude the sale as it has earmarked about 180 million euros of the proceeds in this year's budget, relaunched the tender in June after a 400 million euro deal with Azerbaijan state oil company SOCAR fell through over gas tariffs among other issues.

China's State Grid seals acquisition of stake in Greek power grid - REUTERS

Tue Jun 20, 2017 6:54pm GMT
Reporting by Angeliki Koutantou; editing by Susan Thomas

ATHENS, June 20 (Reuters) - China's State Grid, the world's biggest utility, concluded on Tuesday the acquisition of a minority stake in Greece's power grid operator ADMIE, Beijing's second big investment in the bailed-out country in more than a year.

Under its latest international bailout by the European Union and the International Monetary Fund, Greece has agreed to spin off ADMIE from its state-controlled power utility Public Power Corp. and sell a 24 percent stake to State Grid for 320 million euros ($356 million).

Petroleum Minister meets with Sinopec head, Apache VP - ENTERPRISE / AL MASRY AL YOUM

Tuesday, 21 February 2017

Petroleum Minister Tarek El Molla met with the head of China’s state-owned Sinopec, Wang Yupu, who said his company is mulling a petrochemical project in the Suez Canal Economic Zone, Al Masry Al Youm reports. Also present at the meeting was the vice president of Apache, which previously sold a one-third stake in its Egyptian oil and gas assets to the Chinese company in a USD 3.1 bn transaction. China’s ambassador to Egypt also attended.

LNG fleet operator GasLog closes deal to buy 20% stake in Greece's Gastrade - PLATTS

London (Platts)--9 Feb 2017 924 am EST/1424 GMTStuart Elliott, Edited by Dan Lalor

• Gastrade is developing 6.1 Bcm/year Alexandroupolis LNG project
• FID set for 2017, FSRU to be operational by end-2019
• Plant has attracted interest of LNG producers, including US, Qatar 

LNG tanker fleet operator GasLog has closed a deal to take a 20% stake in Greek energy company Gastrade which is developing the planned 6.1 Bcm/year floating LNG facility at Alexandroupolis in northern Greece, the companies said Thursday.

GasLog's equity position in Gastrade will "materially contribute in the development of the Alexandroupolis project", Gastrade said.

Rosneft Eyes Cooperation With Qatar in LNG Trade – Company Source - SPUTNIK NEWS

11.12.2016, updated 10:19

Russia’s oil giant Rosneft sees opportunities for cooperation with Qatar in the liquefied natural gas (LNG) trade and logistics, a source in the company told reporters. 

MOSCOW (Sputnik) — Qatar’s Investment Authority (QIA), a sovereign wealth fund, is buying a 19.5-percent stake in Rosneft in a consortium with mining firm Glencore. Separately, Rosneft is mulling buying a stake in Egypt's Zohr gas field. 

"Qatar is the largest LNG producer, Rosneft is about to become a stakeholder in Zohr, so there are opportunities for synergy in terms of logistics and trading," the source said. 

"Glencore will hedge a significant part of its stake, most of it," the source said, adding Glencore and the Qatar Investment Authority had an equity stake in their consortium. 

Harel to pay up for Tamar stake | NATURAL GAS EUROPE

July 05th, 2016

A limited partnership, led by Harel Insurance Investments and Financial Services, said in a filing to the Tel Aviv Stock Exchange that it has concluded a deal to purchase 3% shareholding in Tamar Partnership from Noble Energy. Harel holds a 62% stake in the limited partnership directly and the rest, 38%, is held by Israel Infrastructure Fund of which Harel is a 30% shareholder.

Harel said it will pay $369mn for the 3%; and another $123mn if it exercises an option to purchase another 1%. Those numbers value Tamar at $12.3bn, more than 10% above previous evaluations.