Energean exports first hydrocarbon liquids from Israeli gas fields - THE JERUSALEM POST

FEBRUARY 14, 2023 16:55

Zachy Hennessey

For the first time in the history of Israeli oil and gas production, hydrocarbon liquids will be exported to global markets, Energean confirmed on Tuesday. The first cargo has been transferred from the company's Karish field platform and sold as part of a multi-cargo marketing agreement with Vitol.

“We are happy and proud that Energean has facilitated Israel joining the club of international oil exporters," said Mathios Rigas, Energean's CEO "This is another milestone for us, enhancing Energean’s growth as a significant player in the local and regional markets.”

According to Energean, the hydrocarbon liquids are to be offloaded in a controlled manner via the Energean Power FPSO vessel and subsequently sold into various global markets, creating a significantly differentiated income stream that is fundamentally separate to the company's gas-derived revenues.

Egyptian Plan to Supply Europe's LNG Gets Boost as Plant Reopens - BLOOMBERG

February 17, 2021, 1:10 PM GMT+2
Salma El Wardany and Anna Shiryaevskaya

• Trader expected to load shipment at Damietta terminal Feb. 21
• Cargo is first since 2012 for Egypt’s second LNG facility

Egypt is close to restarting its second liquefied natural gas plant after an eight-year hiatus, as the North African nation seeks to become one of Europe’s main suppliers of the fuel.

Vitol Group, the world’s largest independent oil trader, is expected to load a cargo at the Damietta port in northern Egypt, according to people with direct knowledge of the situation. It will be the first shipment from the facility since 2012.

ENERGY: Cyprus receives intense international interest for gas supply tender - FINANCIAL MIRROR

13 September, 2019

The first phase of Cyprus Gas Company’s (DEFA) tender process for the supply of liquefied natural gas (LNG) has triggered considerable interest from major international players such as Shell, BP, Eni and Total.

According to DEFA, 25 suppliers, among the most dominant in the global LNG market, are seeking to supply gas to Cyprus and have submitted the prerequisites to qualify for the next stages of bidding and negotiation.

“The intense market competition for LNG supplies confirms that the strategy to acquire an FSRU was a decision toward the right direction,” a DEFA statement said.

Bidders/suppliers participating in the next round of bidding and negotiating are; Gunvor International B.V. Amsterdam, Naturgy LNG Marketing, Centrica LNG, Endesa Energia, Cheniere Marketing International LLP, Equinor ASA, Novatek Gas & Power Asia Pte, Shell International Trading Middle East, Enel Global Trading, Eni Trading & Shipping, Total Gas & Power Asia Private, Osaka Gas Kabushiki Gaisha, Powerglobe LLC, Repsol LNG Holding, Petronas LNG, BP Gas Marketing, Vitol, B.B. Energy (ASIA), Mytilineos, Uniper Global Commodities SE, Marubeni Corporation, SONATRACH and Public Gas Corporation (DEPA), Eni (Gas & LNG Marketing and Power), Glencore Energy UK and Mitsui & Co.

Greece's Hellenic Petroleum sell-off stalls as no bids made - REUTERS

APRIL 3, 2019 / 7:03 PM
Angeliki Koutantou

• Glencore/CIEP and Vitol/Sonatrach were shortlisted
• 50.1 pct stake in Hellenic worth about $1.5 bln
• Privatisation agency’s board to discuss next steps 

ATHENS, April 3 (Reuters) - No binding bids have been submitted for a majority stake in Greece’s biggest oil refiner Hellenic Petroleum, dealing a blow to a key part of a planned sell-off of state assets mandated by international bailouts.

Switzerland-based commodities trader and miner Glencore had teamed up with CIEP Participations, and Vitol, the world’s largest oil trader, with Algeria’s Sonatrach after they were shortlisted to bid for a 50.1 percent stake in Hellenic.

Greece’s privatisation agency said the lack of bids was “due to reasons related to the short-listed parties and recent developments in the international environment that affect the consortia.” It did not elaborate.

Greece moving closer to sales of ELPE and DEPA, minister asserts - ENERGY PRESS / BLOOMBERG

09/JAN/2019

Greece has crossed a key hurdle to the sale of a controlling stake in ELPE (Hellenic Petroleum) as it rushes to meet its privatization pledge after emerging from its third and final bailout.

In a Bloomberg interview, energy minister Giorgos Stathakis said Greece has reached an accord with potential buyers of the ELPE stake – valued at the current market price of 1.16 billion euros and seen as a flagship privatization – over the control of its wholly owned unit, ELPE Upstream. Under the accord, the state will own 50.1 percent of ELPE Upstream, which holds Hellenic Petroleum’s hydrocarbon exploration and concession rights.

“Talks with the potential buyers of the 50.1 percent stake in Hellenic Petroleum over Elpe Upstream have finished and all issues have been resolved,” Stathakis said in the interview in Athens.

Petronas shortlisted for US$1.2 bil Lebanon FSRU job - THE EDGE MALAYSIA

July 03, 2018 16:00 pm +08

Jose Barrock

NATIONAL oil company Petroliam Nasional Bhd (Petronas) and 12 other international outfits have been shortlisted to develop three floating, storage and regasification units (FSRUs) in Lebanon.

News reports out of Lebanon and international shipping publications put the value of the contract to build the three FSRUs at about US$1.2 billion (RM4.81 billion), with the three ships slated to be moored at Beddawi, near Tripoli; Selaata, north of Beirut; and Zahrani, which is close to Tyre; as recommended by advisers Poten & Partners.

“Yes, Petronas has been shortlisted, but it [the bidding] is quite competitive. Some of the shortlisted companies are consortiums, which are technically very strong,” says an oil and gas (O&G) executive who is familiar with the bidding.

The consortiums prequalified include Japan’s Kawasaki, Norway’s K-Line and US’ Fluor; a partnership between Italy’s Eni and Qatar Petroleum International; a joint venture between Singapore’s BW, Dutch company Vitol with two Lebanese companies Almabani and Butec; another partnership involving US-based Excelerate with British Dutch Shell partnering Lebanese outfit BB Energy; another involving Norway’s Golar Power in partnership with Consolidated Contractors Company of Greece; the Phoenicia Energy Consortium; and lastly, France’s Total working with Norway’s Hoegh.

Egypt to award 12-cargo LNG tender to Gas Natural Fenosa, Swiss traders -trade sources - REUTERS

NOVEMBER 6, 2017 / 6:29 PMReporting by Oleg Vukmanovic; Editing by Susan Fenton

LONDON, Nov 6 (Reuters) - Egypt is expected to award its 12-cargo liquefied natural gas (LNG) tender to Spain’s Gas Natural Fenosa and three Swiss-based trading houses for supplies in the first quarter of 2018, trade sources said.

The final allocation may change but traders currently expect Egyptian Natural Gas Holding (EGAS) to award the Spanish gas company five shipments, trader Trafigura to supply three, Vitol three and Glencore one.

EGAS is seeking to bring in nine of the cargoes via Egypt’s two floating import terminals and three cargoes through a Jordanian terminal.

In the past EGAS has imported LNG through the Jordanian facility, where cargoes were converted back into gas and pumped through pipelines to Egypt. 

OPEC’s ‘Problem Children’ Are Holding Down Oil Prices - THE WALL STREET JOURNAL

Monthly crude-oil production, percentage above or below October 2016 levels

Sept. 22, 2017 12:33 p.m. ET

Benoit Faucon and Summer Said

Rising output in strife-torn Libya and Nigeria is threatening the cartel’s bid to cut off oil supplies and balance the market
VIENNA—The Organization of the Petroleum Exporting Countries is scrambling to contain output from its strife-torn members Libya and Nigeria, where surging production could threaten to derail the oil cartel’s efforts to withhold crude supply and raise its price.

Libya and Nigeria were exempt from OPEC’s agreement last year to join with Russia and other producers to cut about 2% of the world’s oil production. The countries’ oil industries at the time were crippled by civil unrest and weren’t expected to recover soon.

Both have since struck deals with militants, allowing the spigots to be turned on again.

Qatar turns down new LNG deals with Egypt - traders - REUTERS

JULY 26, 2017 / 5:11 PM
Oleg Vukmanovic

LONDON, July 26 (Reuters) - Qatar has turned down several requests by third-party traders to make fresh liquefied natural gas (LNG) supplies available to Egypt, raising concerns that a diplomatic row between the countries may curb regional energy trade, sources said.

Top LNG producer Qatar supplies around 60 percent of Egypt's LNG but relations suffered after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut ties and imposed sanctions on the gas-rich Gulf state last month, accusing it of supporting terrorism. Doha denies the charges.

OMV agrees to sell Turkish unit Petrol Ofisi to Vitol for $1.45 billion - REUTERS

Logo of Austrian oil and gas group OMV at Vienna gas station
on November 9, 2016 REUTERS,Heinz-Peter Bader

Fri Mar 3, 2017 | 5:44pm ESTReporting by Maria Sheahan and Shadia Nasralla; editing by Grant McCool

Austrian energy group OMV (OMVV.VI) said it agreed to sell its Turkish fuel supply and distribution unit Petrol Ofisi to Vitol Investment Partnership, managed by the Swiss-based commodities firm Vitol VITOLV.UL, for 1.37 billion euros ($1.45 billion).

Saudi Aramco and the State Oil Company of Azerbaijan (SOCAR) had also placed bids for Petrol Ofisi, sources familiar with the matter said. OMV counted the Turkish petrol station chain as one of its non-core assets it is shedding to generate cash.

Glencore comes out top as Egypt awards mega LNG import tender - REUTERS

Mon Nov 28, 2016 | 3:37pm GMTReporting by Mark Tay; Additional reporting by Henning Gloystein in Singapore and Eric Knecht in Cairo; Editing by Susan Fenton

• EGAS awards mega tender, taking mainly 2017 cargoes
• Glencore emerges as top supplier, followed by Trafigura
• Jan-Mar 2017 cargoes priced at about 15 percent to crude
• Remainder of 2017 cargoes priced lower as fundamentals expected to weaken

Egypt will import around 60 cargoes of liquefied natural gas (LNG) next year and Glencore will be the biggest supplier, trading sources with knowledge of the results of Egypt's mega tender for 2017 and 2018 said on Monday.

Glencore bagged the right to supply around 25 liquefied natural gas (LNG) cargoes to Egypt, while second-placed Trafigura is understood to have won the right to supply about 18 cargoes of the super-cooled fuel, the trading sources said.

Other parties successful in Egypt Natural Gas Holding's (EGAS) tender included BB Energy, Gunvor and Vitol, the sources added.

Cyprus revives LNG import plans - INTERFAX

Cyprus’s Vasilikos gas-fired power station(J&P Group)

28 October 2016
Verity Ratcliffe

Cyprus is preparing to launch an independent study into importing LNG as Nicosia looks to revive plans for an LNG purchase tender.

State-owned Natural Gas Public Co. (DEFA) has invited consultants to submit bids to carry out the research. Up to 10 bids are expected from companies including Gaffney, Cline & Associates, KPMG, Wood Mackenzie, DEP Levant Oil & Gas, DNVGL, Arntzen de Besche and Genesis Oil and Gas.

"The objective of the study is, based on the analysis of the various options of LNG supplies, to identify and propose an option/project, an appropriate process and a timetable for the supply of gas to Cyprus [as soon as possible] and before 2020," the tender documents say.

Trafigura, Vitol Said Among Bidders for OMV Turkey Fuel Unit - BLOOMBERG

Dinesh Nair, Ercan Ersoy
October 10, 2016 — 11:21 AM EDTUpdated on October 11, 2016 — 4:23 AM EDT

• Opet, Socar and private equity firms also said to bid
• Turkey’s Petrol Ofisi sale could fetch about $1.2 billion

OMV AG, central Europe’s biggest oil and gas company, has got initial bids from Vitol SA and Trafigura Group Pte for its Turkish fuel retailer OMV Petrol Ofisi AS, people with knowledge of the matter said.

Opet Petrolculuk AS, the State Oil Co. of the Azerbaijan Republic and private equity firms are also among the companies that made offers, said the people, who asked not to be identified because the process isn’t public. BP Plc and Saudi Arabian Oil Co., known as Aramco, are also weighing bids, the people said.

Can Cyprus become a regional energy hub? - CYPRUS MAIL

SEPTEMBER 11TH, 2016
By Constantinos Hadjistassou

Frequently we hear of Cyprus’ aspiration to become a regional energy hub. Turkey flirts more prominently with the idea while Egypt more recently voiced serious interest. Considering the economic importance of energy hubs not only for the host country but to the world’s economy, it is instructive to explore what an energy hub is and what it takes to establish one.

To begin with, energy hubs are divided into oil hubs or natural gas hubs. They are important for a host of reasons, namely, the financial benefits from trading activities, employment opportunities for maintaining storage and transportation facilities, geopolitical leverage, access to petroleum supplies and value adding activities such as refining crude oil or raw materials for petrochemicals and the technical know-how possessed by oil companies and contractors.

Egypt seeks third FSRU - NATURAL GAS AFRICA

June 29th, 2016

Egypt is reported to have launched a tender for a third floating LNG import terminal to meet anticipated growth in demand from power plants.

Daily News Egypt on June 26 quoted the petroleum minister, Tarek El-Molla, saying that a tender for the charter of a third floating storage and regasification unit (FSRU) would be issued this week; he told the news service that the vessel would have a regasification capacity of 750mn ft³/d.

Reuters on June 29 reported that the tender was launched June 28, with offers from companies due within two weeks, citing an official from state-run gas company Egas. NGA was unable to get confirmation direct from Egas or shipowners.

Ministry of Petroleum negotiates supply of 12 LNG shipments with foreign companies - DAILY NEWS EGYPT

Two additional shipments will be imported monthly during H2 of 2016, says El Molla.

Mohamed Adel, 27-6-2016

The Ministry of Petroleum and Mineral Resources is negotiating with foreign companies to cover the domestic market’s fuel needs. The ministry previously signed contracts with these companies to import 12 additional shipments of liquefied natural gas (LNG) in July by the end of 2016.

Minister of Petroleum and Mineral Resources Tarek El Molla told Daily News Egypt that they are negotiating with the companies to supply two additional shipments of LNG monthly during the second half of 2016.

Egypt's EGAS makes first LNG payments for year -sources - REUTERS

Mon Mar 7, 2016

• First payments since terms extended to 90 days-sources
• Traders estimate EGAS owes $1 billion to LNG suppliers

By Sarah McFarlane and Oleg Vukmanovic

LONDON/MILAN, March 7 Egypt's state-owned EGAS has made its first payments to liquefied natural gas (LNG) suppliers since payment terms for deliveries were extended, trade sources said.

Egypt imports around six to eight cargoes of LNG per month and traders said that until last week EGAS had not paid suppliers since December when it extended payment terms to 90 days from the usual 15 days, due to the country's foreign currency crisis.

EGAS head Khaled Abdel Badie told Reuters his company has made all payments that were due on LNG shipments but did not specify whether these were the first payments this year.

EGAS decreases gas imports to 650m cubic feet per day - DAILY NEWS EGYPT

LNG shipment will arrive to Sokhna Port to connect to national gas grid, says official

Mohamed Adel February 13, 2016

The Egyptian Natural Gas Holding Company (EGAS) decreased the volume of imported gas by approximately 650m cubic feet per day compared to 700m feet in January.

The decline was a result of the decline of gross domestic consumption of natural gas, according to a senior official in EGAS.

The capacity of the two gas ships that facilitate the transport of gas is estimated at 1.2bn cubic feet per day.

Oil traders look again at floating storage as onshore tanks fill - ENERGY VOICE / BLOOMBERG

Written by Bloomberg - 11/02/2016

The world is so awash with crude, the boss of BP Plc said people will be filling their “swimming pools” with it by the end of the year.

While the company’s Chief Executive Officer Bob Dudley bemoaned this bearish outlook for oil, traders were eyeing a potentially profitable opportunity: turning supertankers into temporary floating storage facilities.

Trading houses including Vitol Group, Koch Supply & Trading LP and Glencore Plc, plus the in-house trading arms of BP and Royal Dutch Shell Plc, collectively made billions of dollars from 2008 to 2009 stockpiling crude at sea. At the peak of the floating storage spree, sheltered anchorages in the North Sea, the Persian Gulf, the Singapore Strait and off South Africa each hosted dozens of supertankers.

Chris Bake, a senior executive at Vitol, the world’s largest independent oil trader, gave the clearest indication yet this week that traders are considering the same strategy again.

“Primary and secondary storage is pretty much full,” Bake said in London Wednesday. “It’s probably a good time to be a vessel owner.”

Cyprus Drops Interim Gas Import Plan - NATURAL GAS EUROPE

February 10th, 2016

Cyprus’ attempts to import gas as an interim solution until Aphrodite comes on line have come to a dead end. This was decided at a meeting at the presidential palace February 7. The key participants at the meeting were the energy minister, the regulator Cera, the gas company Defa and the electricity company EAC.

The government rejected as unfavorable the proposal of the Dutch company Vitol. It said Vitol wanted to sell about a quarter more than the originally proposed quantities. This would benefit Vitol, but could increase Cyprus’ risk of being left with quantities of gas it could not use, in a "take-or-pay" contract. Moreover, there could be a risk that losers would argue that the rules of the tender had changed, benefiting Vitol.

In any case, it is understood that Defa’s tender evaluation did not demonstrate any benefits to Cyprus. This is because the low oil price would negate any savings in the production of electricity from gas.