Merlon allocates USD 54 mn in investments to Fayoum concession in FY 2017-18 - ENTERPRISE / AL MAL

Thursday, 5 January 2017

Oil and Gas producer Merlon International is allocating USD 54 mn towards its development and production operations in its El Fayum concession in FY2017-18, Al Mal reported. Merlon’s JV PetroSilah will end FY2016-17 having invested around USD 64 mn, below the budgeted amount of USD 88 mn, sources at EGPC said. Currently, all of Merlon’s oil and gas assets are located within El Fayum concession in the Western Desert.

ENI chief meets Al-Sisi as tensions ease - NATURAL GAS WORLD

Rosneft and BP have an add'l 5% option each on Shorouk

January 05th, 20179:15am

Mark Smedley

Eni said late January 4 that its CEO Claudio Descalzi met the president of Egypt Abdel Fattah el-Sisi, earlier that day in Cairo.

Descalzi reviewed the ongoing development of the giant Zohr gasfield with the president, noting that the ultra-fast track project is progressing as expected, still with “production start-up confirmed by end of 2017.” The Eni CEO also said that the Nooros field will produce some 25mn m³/d (882mn ft³/d, or 172,000 barrels of oil equivalent/day) by the end of this month, just 15 months after start-up.

Eni agreed late 2016 to farm out potentially up to 50% of Zohr to Rosneft and BP. Each has an option for another 5% on top of their 30% and 10% holdings respectively.

The President of Egypt Abdel Fattah el-Sisi meets Eni’s CEO Claudio Descalzi - ENI

04/01/2017 18:39

Cairo (Egypt), January 4, 2017 - The President of the Republic of Egypt, Abdel Fattah el-Sisi, and Eni’s Chief Executive Officer, Claudio Descalzi, met today in Cairo.

The meeting was an opportunity to review the extensive activity performed by Eni in Egypt, with a total investment in the country in 2016 of $ 2.7 bn.

During the meeting, Mr Descalzi reviewed with President el-Sisi the ongoing development activities of the Zohr field. The ultra-fast track project is progressing in line with the expectations, and the production startup is confirmed by end of 2017.

Lebanon Set to Join East Mediterranean Race for Oil and Gasby - BLOOMBERG

4 January 2017, 3:20pmDana Khraiche

• Cabinet approved two bills setting up rules on tenders, blocks
• ExxonMobil, Chevron among companies qualified to be operators

Lebanon approved two measures allowing it to auction its first offshore oil and natural gas rights, ending three years of delays that kept the tiny country from joining a regional race to tap energy wealth in the eastern Mediterranean.

The newly formed government headed by Prime Minister Saad Hariri passed the two decrees on Wednesday, state-run National News Agency reported, citing Foreign Affairs Minister Gebran Bassil. The decrees demarcate energy blocks, establish production-sharing contracts and specify tender protocols. They take effect with no need for additional approval.

The cabinet formed ministerial committees to study a petroleum tax draft law and another proposed law governing onshore oil resources, Information Minister Melhem Riachi said in a televised news conference. The cabinet also discussed the establishment of a sovereign wealth fund to manage the oil and gas revenue.

Power sector seizes 60% of natural gas consumption: Egypt's EGAS - ZAWYA / AMWAL AL GHAD

Wednesday, 04 January 2017

Egyptian electricity sector seizes around 60 percent of state's total consumption of natural gas, an official source at the Egyptian Natural Gas Holding Company (EGAS) stated Tuesday.

Speaking to Amwal Al Ghad, the source added that the rise in natural gas consumption of all Egyptian sectors within the last years was the main factor behind government's decision to liberalise gas market.

EGAS owns a network for transporting and distributing gas without getting any returns on these investment, the source clarified.

Israel The Maritime Power: A Noble Vision, But Is It Feasible? – Analysis - EURASIA REVIEW

JANUARY 4, 2017

Traditionally, Israel has relied primarily on its ground and air forces to meet national security needs. Now it must also bolster its naval forces — this is what ten prominent US and Israeli experts argue in a joint University of Haifa and Hudson Institute report released earlier this year.

The US Navy — the guarantor of free trade — has significantly shrunk its permanent presence in the Mediterranean since the end of the Cold War. As the report notes, “[t]he Sixth Fleet’s permanent naval presence is now a single command ship in Italy and four Aegis destroyers equipped for ballistic missile defense, all based in Rota, Spain, just outside the Mediterranean.”

According to the report, Israel must therefore strive to take on the regional naval policing job and seek even greater cooperation with the US Navy. In other words it must play the role of deputy sheriff in a similar manner to the United Kingdom and Australia.

IOC receivables down to EGP 3.5 bn by 2016’s end -El Molla - ENTERPRISE / AL SHOROUK

Wednesday, 4 January 2017

Receivables due from EGPC to IOCs have dropped to USD 3.5 bn in 2016’s end, down from USD 3.6 bn at the end of September, Oil Minister Tarek El Molla said. The government bought USD 5.4 bn worth of crude and natural gas from IOCs last year and paid USD 5.5 bn, El Molla clarified, according to Al Shorouk. He said the Ministry is gearing up to make another round of payments to IOCs in order to encourage them to increase investments in Egypt.

Shell completes repayment of Idku liquefaction plant loan in December 2017 - ENTERPRISE / AL BORSA

Tuesday, 3 January 2017

Royal Dutch Shell will complete repayment by December 2017 of the second tranche of a USD 2 bn loan issued to BG to build the Idku liquefaction plant, sources told Al Borsa. EGPC agreed to pay USD 480 mn of the first installment due to the Idku plant halting operations in 2012. The Idku plant pays USD 200 mn in annual installments and requires around 22 shipments annually to become self-sufficient. The government has allowed the plant to export around 200 mcf/d since September; the newspaper suggests the plant could ramp up to full operating capacity by 2020.

Participation in a Tender for the Purchase of Oil and/or Gas Exploration Rights in Cyprus – Update - DELEK GROUP

Tel Aviv, January 3, 2017
Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”)

further to what is stated in the Company’s Immediate Report dated July 24, 2016 (ref. no. 2016-01-0088411) concerning submission of a bid for a tender issued by the Government of Cyprus for the acquisition of exploration rights for oil and/or natural gas in the Cyprus EEZ (“the Tender”), by a consortium including among others Avner Oil Exploration Limited Partnership and Delek Drilling Limited Partnership (together “the Partnerships”), provided below an Immediate Report published by each of the Partnerships with an update of the results of the Tender.

Azerbaijan increases gas supply to Turkey - TREND NEWS AGENCY

3 January 2017 12:20 (UTC+04:00)
Baku, Azerbaijan
Maksim Tsurkov

Azerbaijan supplied 5.31 billion cubic meters (bcm) of gas to Turkey in January-October 2016 as compared to 5 bcm in the same period of 2015, Turkey's Energy Market Regulatory Authority said in a report on its website Jan. 3.

Azerbaijan supplied 6.17 bcm of natural gas to Turkey in 2015 as compared to 6.07 bcm in 2014.

The report said that in January-October 2016, Turkey imported 36.42 bcm of gas, of which 30.62 bcm were supplied via pipelines, while 5.8 bcm accounted for the import of liquefied natural gas (LNG).

Engie to build gas, electricity trading platform - DAILY SABAH

3 January 2017

The Global Energy Management (GEM) division of France's Engie, a multinational electric utility company, has revealed plans to establish a gas and electricity trading platform in Istanbul, through a written statement on Dec. 29.

The written statement read, "We have been rendering service in Turkey for more than 40 years. Neptune, one of Engie Group's Floating Liquefied Natural Gas (LNG) Storage and Gasification (FSRU) terminals, started to operate in İzmir's Etki LNG terminal as the first FSRU terminal in Turkey last week. Engie continues to actualize natural gas supply projects in line with the needs of the Turkish market."

Two oil companies reach agreements to pay suppliers in EGP - ENTERPRISE

Tuesday, 3 January 2017

Oil and gas companies SDX Energy and Merlon International have reportedly reached agreements with their suppliers and contractors in Egypt to repay them in EGP, sources told Al Mal. The initial agreements allowed companies to pay 40% of their receivables in EGP, but the fall in international oil prices, delays in payments from EGPC, and the EGP devaluation have driven the companies to increase the portion they pay in EGP.

Libya's oil production reaches 685,000 bpd - NOC - ECOFIN AGENCY

Monday, 02 January 2017 - 13:39
Anita Fatunji

Libya’s oil production during the weekend reached 685,000 barrels of oil per day (bpd) up from around 600,000 a day last month, an official from the National Oil Corporation (NOC) revealed.

The country’s output increased following the lifting of the two-year blockade on key pipelines leading from the western fields of Sharara and El Feel.

The NOC official said output has been rising steadily from the Sharara field, which has a capacity of 330,000 bpd but did not provide any details concerning operations at El Feel, which has the capacity to produce 90,000 bpd.

EGPC issues tenders for 1.012 mn tonnes of diesel to cover its Feb, March needs - ENTERPRISE

Monday, 2 January 2017
ENTERPRISE / AL BORSA

The Egyptian General Petroleum Corporation (EGPC) has issued two tenders to purchase nearly 1.012 mn tonnes of diesel to cover its requirements for the months of February and March, Al Borsa reports. 

The window for bidding will close on 10 January.

Egypt's bill of importing natural gas hit $250m per month: El-Molla - AMWAL AL GHAD

Monday, 02 January 2017 16:43
Mahmoud Shaaban

Egypt's bill of importing natural gas is estimated at around US$250 million per month, Egyptian Oil Minister Tarek El-Molla stated Sunday.

He added that the Egyptian government would continue importing natural gas until reaching self-sufficiency within the coming two years.

Expanding in importing natural gas within the last few years came to cover all needs of the local market notably electricity and industry sectors, the minster clarified.

El-Molla noted that the continuous explorations in different concession areas play an important role in discovering more gas wells and fields, thus, raising state's production of natural gas.

Obstacles to Israeli natural gas development - CHAPTER 8: GLOBAL ENERGY DEBATES AND THE EASTERN MEDITERRANEAN

Joint Publication by: PRIO Cyprus Centre, Friedrich Ebert Stiftung, Atlantic Council
Elai Rettig

Introduction 

In 2009 and 2010 two major offshore gas fields were discovered in Israel’s exclusive economic zone (EEZ); the Tamar field, with estimated reserves of 282 billion cubic metres (bcm), and the Leviathan field, with estimated reserves of 500 bcm.1 Both fields were discovered by a private Israeli-American partnership consisting mainly of two companies – the Israeli Delek Group and the Texas-based Noble Energy Inc. These discoveries were later supplemented by two smaller fields named Tanin (discovered in 2012) and Karish (discovered in 2013) which were together estimated to hold 30 bcm.2 The discoveries initially sparked a sense of euphoria among Israeli decision-makers and the public. The gas fields were viewed not only as an economic blessing, but also a major security asset that could give the resource-poor State of Israel a much-sought-after level of energy independence it never had, and even the potential to reap political benefits by becoming an exporter of gas. 

Egypt to boost natural gas grid by 2017-minister - AMWAL AL GHAD / REUTERS

1 January, 2017
Mahmoud Shaaban

Egypt's production of natural gas is expected to witness a leap in 2017 as pursuant to state's plans for adding production of discovered fields to the national grid, Oil Minister stated Saturday.

Tarek El-Molla said that the first phase of Zohr gas field is set to add more than one billion cubic feet of gas daily before the end of 2017.

The ministry targets covering local market's needs of natural gas through adding the production of the newly-discovered fields to the national grid, the minister clarified.

Speaking about the future of Egyptian petroleum sector, El-Molla added that around 500 million ft3/day of gas would be added to the national grid before the middle of 2017 from North Alexandria filed.

Egypt's Zohr Gas Discovery: Opportunities and Challenges - CHAPTER 7: GLOBAL ENERGY DEBATES AND THE EASTERN MEDITERRANEAN

Joint Publication by: PRIO Cyprus Centre, Friedrich Ebert Stiftung, Atlantic Council
Adel Abdel Ghafar

In August 2015, the Egyptian government received some good news. Italy’s Eni announced that it has discovered the largest ever offshore natural gas field in the Mediterranean off the Egyptian coast.2 Dubbed a ‘supergiant’ field, Eni suggested that the Zohr project would be able to meet Egypt’s own natural gas demands for decades to come. This was welcome news for the government of Abdel-Fattah el-Sisi as it was entering its third year and has resonated locally and regionally. Once the field comes online it will go a long way toward satisfying local demand, thus allowing Egypt to spend significantly less on importing energy. The continued turbulent transition in Egypt should encourage the government to be prudent and use the proceeds from the field to improve people’s livelihoods and invest in infrastructure, health and education.

Construction continues in the Southern Gas Corridor - WORLD PIPELINES

Friday, 30 December 2016 13:00
Anna Nicklin

The European Commission’s Southern Gas Corridor initiative consists of three key pipelines to supply gas from Caspian regions to Europe, with an overarching aim of securing Europe’s gas supply.

This programme has seen the construction of the Trans Anatolian natural gas pipeline (TANAP) and Trans Adriatic pipeline (TAP) pipelines, the expansion of the South Caucasus pipeline, and the development of the Shah Deniz 2 gas field.

This article provides a brief overview of recent events relating to the TANAP and Trans Adriatic pipeline TAP projects.

Gazprom's Alexey Miller on Nord Strean and Turkish Stream - GAZPROM

December 30, 2016

TEKMOR Note: The full Speech by Alexey Miller at conference call on occasion of New Year’s Eve can be found at the link below.

We intend to proceed with this work in 2017, which means that a new powerful gas transmission corridor will emerge on Russia's gas map. It will largely reshape gas flows as regards Russian consumers and international markets. Among other things, by expanding the northern corridor and gradually constructing new facilities in the northwestern part of the Unified Gas Supply System, we are building up capacities for gas deliveries via the offshore Nord Stream 2 gas pipeline.

The Nord Stream 2 project is running strictly on schedule. The gas pipeline will be brought online in late 2019. I am absolutely convinced that we will put onstream new gas export capacities in a timely manner and in full. The amount of gas to be supplied across the Baltic Sea via Nord Stream and Nord Stream 2 will total 110 billion cubic meters per year.

TransAtlantic Petroleum Announces Receipt of Key Governmental Approval for the Sale of its Subsidiary, Thrace Basin Natural Gas (Turkiye) Corporation - GLOBE NEWSWIRE

December 30, 2016 12:02 ET

HAMILTON, Bermuda, Dec. 30, 2016 (GLOBE NEWSWIRE) -- TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE-MKT:TAT) (the “Company” or “TransAtlantic”) today announced that it has received key governmental approval for the sale of its wholly-owned subsidiary, Thrace Basin Natural Gas (Turkiye) Corporation (“TBNG”), and provided an operations update.

Update on TBNG Sale
On December 30, 2016, the Company received the required approval from the Ministry of Energy and Natural Resources of the Republic of Turkey (the “Ministry”) for the sale of TBNG to Valeura Energy Netherlands B.V. (“Valeura”). This approval is a key closing condition for the Company’s sale of TBNG. Concurrent with its acquisition of TBNG, and as a further closing condition, Valeura will sell its current 40% participating interest in the deep rights on certain of its Turkish joint venture lands to Statoil Banarli Turkey B.V. (“Statoil”). Valeura has also received approval from the Ministry for this sale to Statoil.

Lack of legal expertise could impede energy projects - CYPRUS MAIL

December 30, 2016
Jean Christou

The Cyprus Hydrocarbons Company (CHC) risks remaining without expert legal advice for the foreseeable future, impeding its ability to negotiate major energy-related projects that are on the horizon.

The complication arose after a challenge mounted to the CHC’s decision to award a contract for procuring legal services.

The tender was awarded to Cameron McKenna LLP, for a three-year contract worth some €9.5 million.

But DLA Piper UK LLP, the bidder ranked second in the competition, has appealed the decision with the Tenders Review Authority (TRA).

DLA Piper is arguing that the successful bidder had a conflict of interest.

MIGA guarantee for TANAP to help draw in commercial banks - TREND NEWS AGENCY

30 December 2016 10:45 (UTC+04:00)
Baku, Leman Zeynalova

The board of the Multilateral Investment Guarantee Agency (MIGA) (World Bank Group) has approved a guarantee for up to $1.2 billion for the Trans-Anatolian Natural Gas Pipeline (TANAP) project, a source in MIGA told Trend Dec.30.

“The guarantee is expected to help draw in commercial banks that will contribute to long-term financing needs of the project,” said the source. “Reinsurance capacity is also expected to be mobilized.”

TANAP project envisages transportation of gas from Azerbaijan’s Shah Deniz field to the western borders of Turkey. The length of TANAP is 1,800 kilometers with the initial capacity of 16 billion cubic meters.

Israeli gasoil imports set to rise to boost strategic reserve: sources - BUNKERWORLD

30.12.2016
Bunkerworld / S&P Global Platts

Earlier this week, the energy and water resources ministry told state-owned Israel Electric Corp. to purchase large quantities of gasoil for storage in the event of an emergency, the sources said.

Italy's Eni Expands Footprint in Cyprus with New Blocks - FORBES

DEC 29, 2016 @ 07:50 PM Christopher Coats
Continuing to expand its footprint in the Eastern Mediterranean, Italy's Eni has won two exploration blocks in waters near Cyprus this week as a part of a "competitive international bid round", according to media reports.

The announcement relates to the company's acquisition of Block 8 and a 50% stake in Block 6, with the remainder going to project partner, Total SA TOT.

The announcement signals an expanded presence in the region, building on existing stakes in Cyprus and a significant stake in a "super giant" gas discovery in nearby Egypt. According to the report, Eni has already been awarded blocks 2,3 and 9 in a 2012 bid round.

Naftogaz ready to sell its assets in Egypt - KYIV POST

Ukraine's oil and gas company Naftogaz Chief Executive Officer
Andriy Kobolyev, Paris, on October 28, 2016. Photo by AFP

Published Dec. 29 at 5:24 pmBy Interfax-Ukraine

Naftogaz Ukrainy is ready to sell its assets in Egypt, chairman of the state holding Andriy Kobolev said.

According to him, the feasibility of such a step is due to the fact that this business does not bring much profit to the company.

As reported, Naftogaz through its subsidiary Zakordonnaftogaz explores and operates two oil and gas blocks in the Eastern Desert of Egypt – South Wadi El Mahareeth and Wadi El Mahareeth. The work on these deposits, the projected resources of which exceed 360 million tonnes of oil, is carried out on the basis of concession agreements signed on Feb. 7, 2012 between Zakordonnaftogaz on behalf of Naftogaz and the government of the Arab Republic of Egypt and GANOPE state oil company (Ganoub El -Wadi Holding Petroleum Company).

EBRD ready to consider investing in TAP - TREND NEWS AGENCY

29 December 2016 17:52 (UTC+04:00)Baku, Leman Zeynalova

The European Bank for Reconstruction and Development is ready to consider an investment in the implementation of the Trans-Adriatic Pipeline (TAP) project together with other partners, a source in EBRD told Trend Dec.29.

“It is premature to go into any further details at this stage,” said the source.

Earlier, EBRD President Suma Chakrabarti said that TAP pipeline project is of great interest as it will help the region’s energy security and is deemed environmentally sustainable.

Turkish Stream crosses choppy waters - NATURAL GAS WORLD

December 29th, 2016, 8:30am
John Roberts

In the second half of 2017, the world’s most modern pipe-laying barge will lay the first string of the Turkish Stream pipeline across the Black Sea from Russia to Turkey.

Despite all the vicissitudes of recent Russian-Turkish relations, including the assassination of the Russian ambassador to Turkey Andrei Karlov December 19, the two nations remain committed to laying at least one 15.75bn m³/yr pipe between Russia’s offloading terminal near Anapa and a landing site at Kiyikoy, on the Black Sea coast of Turkish Thrace.

But there is still a lot that remains uncertain. These mainly concern the question of a second string – in effect another 15.75bn m³/yr pipeline running roughly parallel to the first; the question of a connection to the Turkish-Greek border; the issue of who would be served by a second string; and the possibility of foreign partnership in the offshore component of the new system.

Is energy the cause of asymmetric attacks on Turkey? - YENI ŞAFAK

29 December 2016
Erdal Tanas Karagöl

The 21st century is the century of natural gas. Many countries with natural gas resources are located in the north, east and south of Turkey. Therefore, Turkey is a country that has strategic significance in energy.

Turkey stands out in the energy field in its region, as it is a bridge between hydrocarbon reserves in the Middle East, the Caspian region and the Mediterranean, and European countries, the largest consuming countries, and as it ensures its own energy supply security.

Turkey's strategic position among countries that have natural gas resources and that consume natural gas offers significant advantages in terms of being both a corridor and a trade center in energy. For the first time, Turkey is at the point of turning the cost it has shouldered in this region for years into an advantage.

Recapping Turkey’s 2016 pipeline projects - WORLD PIPELINES

Wednesday, 28 December 2016 12:00
Stephanie Roker

A number of Turkish oil and gas pipeline projects have been the topic of conversation this year. Read on to see a recap of the Iraq-Turkey pipeline, Turkey-Israel pipeline, TANAP and TurkStream projects.

Iraq-Turkey pipeline

Back in mid 2015, the Iraq-Turkey (Kirkuk-Ceyhan) pipeline was shut down after attempts of theft and sabotage on the line. Following on from the shutdown, on 6 January 2016, it was confirmed that payment had been received from the Kurdistan Regional Government (KRG) for the crude oil exported through Kurdish region of the line.

SDX Energy buys oil assets in Egypt and Morocco for $30 million - AMWAL AL GHAD

Saturday, 28 January 2017 11:02

London-based Oil and gas explorer SDX Energy has bought Circle Oil's subsidiaries in Egypt and Morocco for about $30 million.

The acquisitions are expected to increase working production by 247% to about 4,705 barrel of oil equivalent per day and its net working interest 2P reserves will grow by 64% to 12.03m barrels of oil equivalent.

The company funded the acquisitions by raising about $40m (32.1 million) from a placing of 107.05 million shares at 30p each, which were admitted to trade on AIM on Friday. An application has also been made for the shares to trade on the TSX Venture Exchange in Canada. The shares represent 57.28% of the company's total issued share capital.

Egypt signs $220 mln of oil and gas deals - REUTERS

Wed Dec 28, 2016 | 11:00am GMT

Reporting by Ahmed Aboulenein; Editing by Giles Elgood and Mark Potter

Egyptian Oil Minister Tarek El Molla has signed three offshore oil and gas exploration and production deals worth a total of at least $220 million with France's Total, Britain's BP, and Italian oil major ENI's Egyptian subsidiary IEOC, the ministry said on Wednesday.

The deals include drilling for six wells and a signing bonus of $9 million, the ministry said in a statement, and are the result of a tender called by Egyptian state gas board EGAS. They are all in exploration blocks in the Egyptian Mediterranean Sea.

The first deal, with a consortium of BP and IEOC, is worth $75 million for an exploration block in the North Ras El Esh block; the second, with a consortium of all three companies, is in the North El Hammad block and is worth $80 million, and the third, with BP alone, is in the [North El Tabya] block and worth $65 million.

The Two Nations Racing To Host The Next Oil And Gas Rush - OIL PRICE

Dec 28, 2016, 9:36 AM CSTDave Forest

Bit of a quiet week for major resource news. But several small items are suggesting some potentially explosive developments coming over the next several months.

One of those comes in a place I’ve been watching closely the past year: the tiny Mediterranean island of Cyprus. Which this past week announced the winning bidders for an offshore licensing round — handing out acreage that could be prospective for some of the world’s largest natural gas targets.

Cyprus’s Ministry of Energy, Commerce, Industry, and Tourism said it has awarded three offshore blocks — one to Italy’s Eni (Block 8), one to an Eni/Total partnership (Block 6), and the other to ExxonMobil and Qatar Petroleum (Block 10).

That’s big news because these licenses (Block 10) lie just kilometers away from Egyptian waters where Eni discovered the 30 trillion-cubic feet Zohr natural gas field — one of the biggest petro-finds in recent history.

France to support Egypt’s Energy sector with EUR 175 mn - ENTERPRISE

French President Francois Hollande (R) and his Egyptian counterpart
Abdel Fattah al-Sisi in Paris on 26 November, 2014 (AA)

Wednesday, 28 December 2016

France will support Egypt’s energy sector to the tune of EUR 175 mn, including EUR 150 mn for electricity and EUR 25 mn for the oil and gas sector, the International Cooperation Ministry announced. Minister Sahar Nasr reached the agreement with French Minister of State for Development and Francophonie, Jean-Marie Le Guen, during his visit to Cairo this week.

Egyptian General Petroleum Corp seeks up to 178,000 tonnes gasoil - AME INFO

December 27, 2016 12:04 pm

Egyptian General Petroleum Corp (EGPC) is seeking up to 178,000 tonnes of gasoil for delivery in January, a tender document showed on Tuesday.

The state-owned company is seeking two cargoes of 30,000 to 33,000 tonnes each of 0.1 percent sulphur gasoil for delivery into Alexandria or El Dekheila ports over Jan. 11 to 13 and Jan. 22 to 24.

It is also seeking via a separate tender two cargoes of 34,000 to 36,000 tonnes each of 0.1 percent sulphur gasoil for delivery into Suez port over Jan. 11 to 13 and Jan. 24 to 26 and 35,000 to 40,000 tonnes of 0.5 percent sulphur gasoil for delivery into Ain Sukhna over Jan. 23 to 25.

Natural gas key to Cyprus talks, says Anastasiades - KATHIMERINI

Tuesday, December 27, 2016, 17:52
Tom Ellis

TEKMOR note: For those interested on the thinking of the Cypriot president and leader of the majority Christian communities (Armenians, Greeks, Latins, Maronites) of Cyprus ahead of the talks for ending the illegal Turkish occupation/colonisation of northern Cyprus.


The discovery of natural gas is a significant incentive to get Ankara’s backing for a resolution to the Cyprus issue, says the country’s President Nicos Anastasiades, who believes that the prospect of using some of the fuel lying beneath the seabed off the island’s shores to cover a large part of Turkey’s energy needs and transform the country into a regional energy hub could convince Turkish President Recep Tayyip Erdogan to make the concessions needed for a reunification deal to be achieved.

In this context, the recent success of ExxonMobil, Total and ENI in securing licenses for gas exploration in the Exclusive Economic Zone (EEZ) of Cyprus is a powerful message that could strengthen Nicosia’s bargaining power.

In an extensive interview with Kathimerini from the Presidential Palace in Nicosia ahead of a multilateral summit on Cyprus in Geneva on January 12, Anastasiades talks about the need for Turkey to withdraw its troops from the island’s occupied north and says that he is willing to agree to a transitional period while this is achieved. He also stresses that Athens and Nicosia are on the same page as regards the issue of guarantees.

The Cyprus president appears determined to achieve a resolution despite warnings that certain facets of such a deal that he is willing to negotiate could be rejected by Greek Cypriots in the ensuing referendum, potentially jeopardizing a deal and his own political future.

Italy's Eni signs 2 new gas exploration deals with Egypt - AHRAM ONLINE

Tuesday 27 Dec 2016

Italy’s Eni, one of the leading global oil and gas companies, signed on Tuesday two new concession agreements with the Egyptian government for gas exploration in two fields of “North El-Hammad and North Ras El-Esh, located in the shallow waters of the Egyptian Mediterranean Sea,” according to the group’s website.

For the North El-Hammad block, Eni has a stake of 37.5 percent, while the remaining equities are owned by BP and Total, the Italian company said.

However, Eni has a 50 percent participation stake in the North Ras El-Esh block, which is operated by BP with an equity of 50 percent.

Turkey's New FSRU LNG Terminal Complements Existing Land-Based Terminals - NATURAL GAS INTEL

December 27, 2016Joe Fisher

Turkey saw the inauguration of its first floating storage regasification unit (FSRU) liquefied natural gas (LNG) terminal last Friday.

The facility includes a jetty and onshore natural gas pipeline connecting regasified LNG from the unit to the neighboring pipeline grid. According to developer ENGIE and its Turkish construction partners, project development took 6.5 months from final investment decision to completion.

The ETKI LNG terminal was built by construction companies Kolin and Kalyon of Turkey. The facility is at Aliaga on the Aegean coast.

Eni Wins Twin Exploration Block License in Offshore Cyprus - ZACKS EQUITY RESEARCH / NASDAQ

December 27, 2016, 09:16:00 AM EDT
By Zacks Equity Research, Zacks.com

Eni SpA E recently gained two exploration blocks offshore Cyprus, in the competitive international bid round "3rd Licensing Round." We expect these developments to result in stock price appreciation. Year to date, the stock has gained 6.9%, while the Zacks categorized sub industry Oil & Gas- International Integrated Market has increased by 19%.

Eni will be the operator of Block 6 with 50% interest, while the balance will be held by partner, Total SA TOT . Eni will acquire a 100% stake in Block 8.

Eni's successfully explored areas in the neighboring Egyptian offshore, including the Zohr massive gas field, which have geological similarities with these newly awarded areas.

EPDK floats gas distribution tenders in Turkish lira - DAILY SABAH

27.12.2016

The Energy Market Regulatory Authority (EPDK) is set to hold its first ever tender in Turkish lira, which will see five companies bid against each other to land natural gas distribution projects in Turkey's Ağrı and Tunceli. According to the EPDK authorities, two more tenders will soon be finalized to expand natural gas distribution coverage in Turkey.

Aksa Natural Gas Distribution Company, Fernas Construction Company, Akmercan Tourism Company, Siirt-Batman Natural Gas Distribution Company and the Alöz Engineering Company will vie today for the two natural gas distribution projects, which will cover Ağrı's city center and the province of Doğubayazıt, as well as two other similar projects in Tunceli on Dec. 28.

Israeli study points to Turkey as cheapest way to carry natural gas - DAILY SABAH

Source: ABO

27.12.2016

TEKMOR note: Turkey (Republic of) is the sole country that does not recognize EU-member Cyprus (Republic of), since it invaded the northern two fifths of the island in 1974, cleansed it of its majority Christian population and colonises it with populations from mainland Turkey. A pipeline from Israel to Turkey is difficult to say the least without Cyprus' consent.   
--

A study titled, "Commercial Opportunities for Turkish Companies," which was prepared by Israel, has revealed that the cost of building a pipeline between Turkey and Israel would vary between $2.6 billion and $3.9 billion and, that if Greece is chosen as a route for the pipeline, the average cost of the pipeline would amount to $7.15 billion to carry the gas to Europe.

According to the study presented by the Israeli Embassy in a meeting attended by officials from energy companies, a possible pipeline between Turkey and Israel might reach 600 kilometers in length.

Entry of major energy players not a game changer, expert says - CYPRUS MAIL

Rex Tillerson

December 26, 2016
Elias Hazou

WHEREAS there is no doubt the third hydrocarbons licensing round was a successful one – with the entry of US energy giant ExxonMobil – Cypriots would be well advised to manage any expectations of a financial bonanza, an energy analyst tells the Cyprus Mail.

“The economics of the eastern Mediterranean remain the same, regardless of the players,” said Charles Ellinas.

Profitability being the bottom line, and with gas prices still suppressed, discouraging development of natural gas fields at the moment, the entry of ExxonMobil is welcome, but not a game changer.

The same problems will persist unless there is a dramatic increase in gas prices, Ellinas said.

During 2016, the price of natural gas in European markets averaged at a low $4.5 per BTU.

Deregulation - ENTERPRISE

Monday, 26 December 2016

The Electricity Act and the Natural Gas Act, which would deregulate their respective sectors were two of laws that excited us the most when they were announced. With so many sectors of the economy still under government control, it would almost seem inconceivable that such strategically vital sectors would be slated for privatization for Egyptians and foreigners. At the time they were proposed, Egypt had become a net importer of natural gas and suffering through critical power shortages. It was hoped by allowing the private sector in supply and distribution would be made more efficient by introducing competition, spur domestic and foreign investment in the sector, and reduce the immense expenses incurred by the government as a result of being the sole operator. More crucially, it would help ease the government’s transition away from subsidizing electricity and gas to the Kramers. Neither law has been implemented as of the end of 2016, but slow progress is still progress.

Israel's Delek Drilling, Avner Oil approve merger - REUTERS

Yossi Abu, chief executive of Delek's subsidiaries Delek Drilling and
Avner Oil, Tel Aviv, March 28, 2016. REUTERS/Baz Ratner

Sun Dec 25, 2016 | 4:54am ESTReporting by Steven Scheer

Israeli conglomerate Delek Group's gas and oil exploration units, Delek Drilling and Avner Oil Exploration, approved a merger aimed at reducing costs and attracting new investors.

Delek Drilling said on Sunday that shareholders of both companies approved the merger, which will see all assets and liabilities of Avner transferred to Delek Drilling and Avner will be dissolved.

The companies in April began the merger process.

Delek Group directly holds 6.6 percent of Delek Drilling and 8.9 percent of Avner, while its Delek Energy unit owns 63 percent of Delek Drilling and 47 percent of Avner.

Anastasiades: Natural gas supply an incentive for Turkey - KATHIMERINI

25.12.2016 : 13:40

Cyprus’s newly-discovered wealth of offshore natural gas could boost the prospects for a peace settlement on the divided island, President Nicos Anastasiades has said a few days after Nicosia said it had picked Eni, Total and ExxonMobil for three exploration licenses.

In an interview with Kathimerini newspaper ahead of next month’s crucial talks in Geneva, the Greek Cypriot leader said that the prospect of covering a significant part of Turkey’s energy needs and of transforming his country into a regional energy hub could prompt Turkish President Recep Tayyip Erdogan into making the much-needed concessions that would pave the way for a deal.

“The most important thing is for [Turkey] to become an energy hub. The normalization of ties with Israel and the need to get natural gas supplies from there, presupposes that that pipelines will run through Cyprus’s Exclusive Economic Zone (EEZ). The Cyprus Republic may not have veto rights, but it can raise objections over the pipeline route,” said Anastasiades, adding that Ankara could also be interested in the discovery of natural gas deposits.

Egypt oil ministry signed 8 deals worth $709 mln to find energy reserves in 2015/16 - AHRAM ONLINE

Sunday 25 Dec 2016

Egypt's petroleum ministry said it signed in 2015/16 eight agreements with six international and local companies to search for oil and gas reserves in the Mediterranean, the Western Desert, the Gulf of Suez and Upper Egypt, with total investments worth $709 million.

The ministry said in a Sunday statement that the agreements also include drilling 33 new energy wells.

The ministry also highlighted that it has succeeded in increasing the natural gas production per day to around 4.45 billion cubic feet of gas by accelerating the search for natural gas reserves in the Mediterranean.

Eastern Mediterranean Developments - ATLANTIC COUNCIL

Global Energy Debates and the Eastern Mediterranean, Chapter 6 -  Joint Publication by: PRIO Cyprus Centre, Friedrich Ebert Stiftung & Atlantic Council

Charles Ellinas

During the last 16 months the oil and gas sector has undergone dramatic change. The price downturn is quite serious but in the East Mediterranean we do not seem to worry about this. We carry on as if price is not an issue. However, sooner or later any East Med gas export plans will have to face up to this situation and respond to commercial realities if they are to move forward and reach and pass the point of final investment decision (FID). And it must be borne in mind that banks and the industry will only support projects with low risk and clear commercial returns.

At The Economist’s 11th Cyprus Summit on 3rd November 2015, Noble Energy’s representative said the company was still in the process of agreeing the Aphrodite development plan with Cyprus government and hoped to complete this during the next few months. There are export markets available in Egypt, partly for Egypt’s domestic market and partly for export to Europe as LNG. Following Egypt’s discovery of Zohr, many said that this has killed the market for others. But Noble Energy considers these reports to be greatly exaggerated. According to Noble there are still markets in Egypt for Cyprus gas and it is working with the government of Cyprus on these. The market in Cyprus is too small and hence not sufficient to support the development of Aphrodite. But gas will come to Cyprus once an export project has been identified.

TransGlobe’s Egyptian assets to reach oil production targets - ECOFIN AGENCY

Friday, 23 December 2016 - 16:06
Anita Fatunji

(Ecofin Agency) - Canadian-based TransGlobe Energy in its update on Egyptian assets for the fourth and last quarter in 2016, announced that the North West Gharib (NWG) development plan for the NWG 3, NWG 16 and NWG 38 area was approved in early December.

The company said it completed the NWG 3 Early Production Facility (EPF) in mid-December and targets first production from NWG 3 at an estimated preliminary rate of 500 to 700bpd while the adjacent NWG 38 discovery well’s pipeline has been connected to the EPF and is expected to begin production before 2016 year-end.

Southern Gas Corridor already raised over 50% of money needed until 2020 - ABC.AZ

23.12.2016 16:40
Baku, Fineko/abc.az.

CJSC Southern Gas Corridor (CQD/SGC) has already raised more than 50% of financing required until 2020.

SGC general director Afghan Isayev has stated that out of $11.9 bn on which the Southern Gas Corridor should be financed in 2014-19, it has been already raised $6 bn, including $2 bn in 2016.

He pointed out that the Asian Development Bank has given a loan for 15-year period under governmental guarantee for $500 million and $526 million under 15-year guarantee on syndicated lending. The International Bank for Reconstruction & Development (IBRD), part of the World Bank Group gave $400 million for 30-year term and the Multilateral Investment Guarantee Agency (MIGA), another member of the Group, provided $750 million of guarantees for syndicated lending for 15-year period. In turn, the Asian Infrastructure Investment Bank (AIIB) gave a loan in the amount of $600 million for 30 years.

Port deal will allow Total to drill on schedule - CYPRUS MAIL

December 23, 2016

Elias Hazou
A DEAL has been struck between the consortium holding the marine services concession at the port of Limassol and EDT Offshore, allowing French oil major Total to drill its first exploratory well on schedule.

The development means that EDT, can via their port facilities, provide onshore logistical support to Total who plan to drill around April next year.

The breakthrough, which sources said came after ‘marathon negotiations’ between EDT and P&O Maritime – the co-concession holders at Limassol port along with G.A.P. Vassilopoulos – was achieved.