US official sends clear message to Turkey over Cyprus drilling - KATHIMERINI

16.12.2018 : 14:21

VASSILIS NEDOS

In an exclusive interview with Kathimerini’s Sunday edition, US Assistant Secretary of State for European and Eurasian Affairs Wess Mitchell has sent a clear message to Ankara not to obstruct drilling for hydrocarbons that is under way in Cyprus’s exclusive economic zone (EEZ), while hailing Greece as a “fantastic ally” to the United States in the region.

Speaking in Washington on Friday, a day after the US-Greece Strategic Dialogue, President Donald Trump’s key official on Greek-Turkish affairs and the Eastern Mediterranean said the US regards Greece, as well as Cyprus and Israel, as important allies in the region.

“Greece, Cyprus and Israel are very important countries for the US because they are stable, democratic, western allies in a region where you don’t find a lot of stable, democratic partners,” Mitchell said, adding that it was a “natural step” for the US to deepen its cooperation with all three countries.

He cited energy security and diversification as key goals, as well as keeping a check on “Iranian efforts to open a window for the Mediterranean through Syria.”

He also underlined that Cyprus has the right to develop its resources. “Our line has been consistent. Cyprus is a sovereign country and just like any other sovereign country it has resources and can develop those resources,” Mitchell said.

Dreams versus reality in the push for Cyprus gas - CYPRUS MAIL

DECEMBER 16, 2018
Charles Ellinas

Cyprus on the brink of big decisions on energy was the subject of the Sixth Energy Symposium organised by the Institute of Energy North-East Europe (IENE) and Financial Media Way (FMW) in Nicosia on December 4.

The key message was that hydrocarbons offer serious opportunities that with careful handling can benefit Cyprus geopolitics and economy as well as the wider region.

In their introductory speeches, the organisers of the symposium, IENE executive director, Costis Stambolis, and managing director of FMW, Iosef Iosef, said the symposium stressed the success and significance of the energy profile of Cyprus internationally.

President Nicos Anastasiades, in his opening speech described the three pillars that guide the government’s energy plans:

• Development of hydrocarbons, that belong to all legal citizens of Cyprus
• Overcoming Cyprus’ energy isolation and developing other energy sources, including renewables
• Close energy cooperation with those neighbouring countries that are willing partners.

He talked about the drive to create an East Med Energy Corridor to connect East Med’s hydrocarbon resources to Europe. This includes LNG exports, as well as the East Med pipeline. He considers this to be key in terms of contributing to EU’s energy needs.

Dana Gas now producing 70,000 barrels of oil per day in Kurdistan - KURDISTAN 24

A gas processing plant run by Dana Gas in the Kurdistan Region

December 15, 2018

John J. Catherine

ERBIL (Kurdistan 24) – The Middle East's largest regional private sector natural gas company has announced that, as a result of a previous ramp-up of production in the Kurdistan Region, it reached 70,000 barrels of oil per day (bpd) in late November and has either sustained or exceeded that amount since then.

"Production in excess of 70,000 barrels oil equivalent per day is a great achievement for Dana Gas," said Chief Executive Officer Patrick Allman-Ward in a statement released on Thursday.

"The increase in production will help offset the lower realised hydrocarbon prices that have impacted the oil industry in the last quarter and support growth in our revenue and net profit figures for the full year 2018 and beyond."

Dana Gas is an independent gas company headquartered in Sharjah, United Arab Emirates that has been active in the Kurdistan Region of Iraq since 2007 when it entered into agreements with the Kurdistan Regional Government (KRG) to develop its substantial gas resources.

Hungary looks at Cyprus gas to diversity energy supply - ASSOCIATED PRESS

Peter Szijjarto / Nicos Christodoulides (AP Photo/Petros Karadjias)

December 14, 2018

NICOSIA, Cyprus (AP) — Hungary’s foreign minister says Cyprus’ offshore gas deposits could become an alternative energy source for his country, which is seeking to diversify its natural gas supply beyond Russia in order to bolster its energy security.

Peter Szijjarto says Hungary “constantly seeks alternative solutions” and that his country considers as “realistic” the supply of gas from Cyprus’ Aphrodite offshore deposit.

He said an agreement signed with his Cypriot counterpart Friday will ready the groundwork for Cypriot gas “over the medium term to play a role” in the energy supply of central Europe.

Szijjarto also said that Hungary is willing to share its advanced technological know-know with Cyprus in order to help the east Mediterranean island nation with its water shortage problems.

LNG tanker carrying first export cargo from Texas headed to Greece - KATHIMERINI

FRIDAY DECEMBER 14, 2018

The first shipment of liquefied natural gas (LNG) from Texas, in the United States, is headed to Greece.

The Maria Energy LNG tanker, carrying the first export cargo from Cheniere Energy’s terminal near Corpus Christi, left the facility Tuesday and is expected to arrive at the Revithoussa LNG terminal, an islet west of Athens, on December 29.

In a statement Thursday, Greece’s Energy Ministry confirmed that LNG from the US will be unloaded before the end of the year at the newly-built tank.

The ministry said the deal demonstrates efforts on both sides to strengthen cooperation on energy security. It said natural gas is required to play a transitional role in bolstering Greece’s energy security.

Greece, which relies on Russian gas for its energy needs, inaugurated the Revithoussa LNG tank in November in a bid to boost its storage capacity and advance its ambitions to become a regional energy hub.

U.S. - Greece Strategic Dialogue - Remarks by Secretary Pompeo - U.S. STATE DEPARTMENT

This afternoon, @SecPompeo delivered remarks with Greek Acting Minister of Foreign Affairs @gkatr as part of the U.S.-#Greece Strategic Dialogue at the State Department. @GreeceMFA @USEmbassyAthens @GreeceInUSA pic.twitter.com/HjrDFYKAJ8

— Department of State (@StateDept) December 13, 2018

Turkey starts building land part of Turkish Stream pipeline - TASS

ANKARA, December 13, 2018 /TASS/

Turkey is launching the construction of the onshore part of the Turkish Stream gas pipeline on the territory of the republic.

Turkish President Recep Tayyip Erdogan announced this presenting the action plan for the second 100 days of the new cabinet after the country’s transition to the presidential form of government.

"We are launching the construction of the onshore part of the Turkish Stream on our territory," he said as quoted by the Anadolu news agency.

Erdogan also announced plans to complete the implementation of this project "by the end of 2019."

Shell’s Idku plant steps up LNG exports as winter curbs local consumption - ENTERPRISE

Wednesday, 12 December 2018

Royal Dutch Shell’s Idku liquefaction plant has increased exports of natural gas to 500 mcf/d, up from 300 mcf/d previously, a source from EGAS said, attributing the move to a further decline in local consumption levels during winter. 

Just last month, the company increased LNG exports to 300 mcf/d from 250 mcf/d in October. 

Shell and the Oil Ministry had agreed in 2016 to gradually ramp up production at the Idku LNG plant.

Growing Dependent On Russia: The Gas Routes In Europe - FORBES

Dec 12, 2018, 12:05pm
Annalisa Girardi

This year Italy has become the second largest buyer of Russian natural gas, outdoing Turkey. Rome and Moscow historically have had close commercial ties within the energy sector, being Eni, an oil and gas Italian company and one of the largest multinationals in the sector, the first Western business to become a commercial partner to the Kremlin. This year Italy has become Russia’s second market, buying 18,3 billion cubic meters gas, against the 17,9 billion cubic meters acquired by Ankara. According to Bloomberg, Germany remains far in its first place, with 42,7 billion cubic meters gas purchased from Siberian gas fields.

Russian gas is a precious resource for Italy since it provides more than one-third of its total domestic demand. Natural gas originated in Russia reaches Italy mainly through the Trans Austria Gas (TAG) pipeline, a 380 kilometers duct hold at 89% by Eni. At this moment, 40% of national requirements are met by Gazprom, the Russian business that is also a major oil and gas companies worldwide, as well as being state-owned at 50%. The rest of Italian energy needs are mainly covered at 25% by Algeria and at 6% by Libya, while the country imports from Qatar the majority of liquefied natural gas which is later processed at the regasification plants.

Interview: President of Cyprus on Sisi, gas deal, Turkey and Syria - EGYPT INDEPENDENT

December 10, 2018, 2:24 pm
Gamaa Hamduillah

This edited interview of President Nicos Anastasiades, of the Republic of Cyprus, was originally authored by Gamaa Hamduillah and Fady Francis, and published by Egyptian newspaper Al-Masry Al-Youm on Friday, December 7, 2018.

Al-Masry Al-Youm: After the 30 June Revolution, and President Abdel-Fattah al-Sisi’s 2014 rise to power in Egypt, the past four years witnessed a great development of Egyptian-Cypriot relations, in all fields and departments. How do you see the future of relations between Egypt and Cyprus, during President Sisi’s second term?

President Anastasiades: Bilateral relations between Cyprus and Egypt are at their highest point ever, and this reflects our readiness to further broaden our ties in the future, and reach the full potential of our partnership, including engaging the private sector. It is always with great pleasure that I meet President Sisi, and I look forward to continuing close work together, with the common aim of promoting peace, stability and prosperity in our region.

House ratifies Egypt-Cyprus pipeline agreement, other recent agreements - ENTERPRISE

Monday, 10 December 2018

The House of Representatives’ Legislative Committee approved yesterday the Egypt-Cyprus agreement to establish a natural gas pipeline connecting Cyprus’ Aphrodite natgas field to liquefaction plants at home, according to Youm7. 

The pipeline will be used to bring in natgas for re-export to Europe, a key element of Egypt’s bid to become an energy hub for the Eastern Mediterranean.

The committee also approved a USD 65 mn grant from USAID to support water infrastructure, and a KWD 100,000 grant from the Arab Fund for Social and Economic Development to purchase equipment for the Theodor Bilharz Research Institute in Giza.

UPDATE 1-Egypt approves BP purchase of 25 pct of Nour gas concession - REUTERS / EGYPT TODAY

Sun, Dec. 9, 2018

CAIRO, Dec 9 (Reuters) - BP and UAE-based Mubadala Investment Co are to buy stakes in the Nour deepwater gas concession off the northern coast of Sinai, following approval by Egypt’s petroleum ministry on Sunday. 

Nour lies near the Zohr gas field, which was declared the biggest in the Mediterranean when it was discovered in 2015. Zohr is estimated to hold about 30 trillion cubic feet of gas and has raised interest in gas exploration in Egypt.

BP will buy 25 percent and Abu Dhabi state fund Mubadala 20 percent of the Nour concession from Italian energy company Eni , the petroleum ministry said in a statement.

Eni, which had held 85 percent of the concession through a subsidiary, will now hold 40 percent. Egypt’s state-controlled Tharwa Petroleum Company holds the remaining 15 percent.

Eni and Tharwa were originally due to start drilling the first exploratory oil well at Nour in late September.

Geopolitical Stakes Are Huge On This Tiny Island - OILPRICE.COM

Dec 08, 2018, 11:59 PM CST

Damir Kaletovic

The specter of a rumored U.S. military buildup in Cyprus that would draw a major Russian response now adds to the ongoing Greek Cypriot-Turkish conflict over the island and the oil and gas riches it promises.

Ever since the massive hydrocarbon discovery in Cyprus’ exclusive economic zone (EEZ) in 2011 by American company Noble Energy the island has been the center of a geopolitical game that doesn’t stop with rife tensions between Turkey and the Greek Cypriots.

And now this game is drawing nearer to its climax, with much at stake.

Cyprus--an island in the eastern part of the Mediterranean Sea—is divided into the Greek-dominated Republic of Cyprus in the south and the Turkish-controlled north. Since 2004, the Republic of Cyprus has been a member of the European Union, and the northern ‘entity’ remains recognized solely by Turkey.

But it is the EEZ—the exclusive economic zone—where this geopolitical game of chess is being played out.

Putin says TurkStream Gas Pipeline Could be Extended via Greece - ASIAN OIL & GAS

Friday, 07 December 2018 04:19

Russian President Vladimir Putin said on Friday that the TurkStream gas pipeline could be extended further into Europe via Greece, as he met Greek Prime Minister Alexis Tsipras in Moscow.

The first line of TurkStream, which runs from Russia to Turkey via the Black Sea bed, is intended for Turkish consumption only. Russia has said that a second line will also end in Turkey and Europe must choose the route and build the extension itself.

Several routes, including via Greece and Bulgaria, are under consideration.

"We are ready for implementation of large-scale infrastructure energy projects jointly with Greece. This is also about connecting southern Europe to TurkStream via Greece," Putin said at a joint briefing with Tsipras in Moscow.

Gazprom is building TurkStream to bypass Ukraine, the key route used to ship Russian gas to Europe, amid political tension.

Its two lines will each have a capacity of 15.75 billion cubic metres of gas per year, with the first due to be operational by the end of 2019. 

Reporting by Vladimir Soldatkin and Polya Ivanova; Editing by Kirsten Donovan

Egypt to test-run Giza, Fayoum gas fields - MENAFN

December 6, 2018, 8:56:59 AM

Egypt was announced to have decided to test-run Giza and Fayoum fields before this month ends, as part of a plan to boost natural gas output from deep waters.

The trial is to be launched with Egypt aiming to produce an average of 700 million cubic feet of gas a day from the fields by the first quarter of next year.

Since June this year, Egypt was able to see a 10 percent jump in its natural gas production to reach 6.6 billion cubic feet a day.

This increase was recorded after Egypt imposed hikes on production at Zohr offshore gas field for it to stand at 2 billion cubic feet per day.

The country is looking to see its gas production surge to hit 6.75 billion cubic feet per day before this year comes to an end, with a target to turn into an energy hub.

Use of LNG ‘a one-way street’, EAC boss says - CYPRUS MAIL

December 5, 2018 

Gregoris Savva

The use of liquified natural gas (LNG) for electricity generation is the only option for Cyprus to diversify its energy mix and avoid stricter fines on emissions from power generation, the chairman of the electricity authority (EAC) Andreas Marangos has said.

In an interview with CNA, Marangos said the EAC was ready for the two major challenges, namely the liberalisation of the electricity market and the use of natural gas for electricity generation.

He acknowledged that fluctuations in electricity bills which often cause reaction from the public and businesses but are “a reality” dependent on international oil prices, as 90 per cent of power generation is dependent on imported liquid fuel.

“The way to have lower and more stable prices is the introduction of natural gas in energy generation. A reduction in the electricity bills will depend on the natural gas purchase price but also on the introduction of solar plants and renewable source of energy to the system,” he said, as the Cyprus Natural Gas Company has launched a call for tenders for LNG import terminal.

Government dismisses reports on EastMed pipeline as baseless - KATHIMERINI / KNEWS

04 December 2018 - 09:47

The Government has dismissed reports that question the viability of the EastMed pipeline. The proposed EastMed pipeline will transfer natural gas from the Eastern Mediterranean to Europe. Commentators have argued that the project is not economically viable, given the distances and depth involved, pointing out that the final price of the Cypriot natural gas would not be competitive.

Government Spokesman Prodromos Prodromou said on Monday that the reports were baseless, adding that when the necessary consultations will be concluded there will be an agreement among the participating states on the pipeline.

“Results will be announced officially once they have been reached,” he told the press.

Asked about ExxonMobil’s exploratory drill in block 10 of Cyprus Exclusive Economic Zone and the US’ reported intention to build a gas terminal in Cyprus, the Government Spokesman said that “the works proceed normally as the Ministers of Foreign Affairs and Energy have established on - site”.

He said that the Government will not decide a priori or preclude any possibility with regard to the commercial exploitation of the gas fields and that the best decisions will be made depending on the technical and economic data.

IEC seeks Tamar, Leviathan bids for NIS 2b gas deal - GLOBES

3 Dec, 2018 14:19

Sonia Gorodeisky

Israel Electric Corp. is hoping to cut the price of gas by generating competition between the two partnerships.

Israel Electric Corporation (IEC) (TASE: ELEC.B22) has contacted both the Tamar and Leviathan partnerships, both partly owned by Yitzhak Tshuva, to provide bids to supply 2 billion cubic meters (BCM) of gas annually over two years, Delek Drilling LP (TASE: DEDR.L) notified the Tel Aviv Stock Exchange this morning. At current gas prices the deal has an estimate value of about NIS 2 billion.

According to the report, the gas is to be supplied between October 2019 and the end of June 2021. This time scale extends from when gas is due to begin flowing from the Leviathan reservoir to the start of supply of gas from the Karish reservoir, controlled by Greek company Energean Oil & Gas plc (LSE: ENOG; TASE: ENOG).

The aim of IEC is to try and cut the price of natural gas used in the production of electricity but a competitive process to procure amounts of gas above its commitment to the Tamar partners. At the same time, IEC is anyway trying to lower the price of gas in its agreement with the Tamar partners, which amounts to $6 per thermal unit, 33% over the price closed recently with Energean by private electricity producers.

Remarks at the Budapest Energy Summit - Francis R. Fannon - U.S. DEPARTMENT OF STATE

December 3, 2018Remarks
Francis R. Fannon
Budapest Energy Summit

Budapest, Hungary

Introduction

Good morning. Thank you Piroska for the kind introduction. I’ve seen a lot of Budapest and I’m pleased to be here today for the Budapest Energy Summit.

Today I would like to discuss Europe’s energy security: the challenges and the opportunities.

The United States has been engaged in energy issues as key to foreign policy since the 1800s. The State Department, at that time, worked to secure markets abroad for U.S. oil and kerosene, some of our largest exports at the time. In the 1970s, the Department was at the forefront in managing oil supply shocks, with then Secretary of State Kissinger helping to found the International Energy Agency.

Eni to drill tenth well in Egypt’s Zohr field next January - ENTERPRISE

Monday, 3 December 2018

Italy’s Eni will begin drilling its tenth well in the Zohr gas field in January 2019 at a cost of USD 300 mn. 

The addition of the tenth well is expected to boost output production by 200 mcf/, and is predicted to take two months to complete. 

Production from the tenth well remains dependent on Eni’s sixth treatment plant, which is currently under construction and expected to be completed by 1Q2019. 

The company recently had to close the ninth well in Zohr after drilling due to lack of capacity at its treatment plants.

EastMed gas pipeline increasingly doubtful - CYPRUS MAIL

December 2, 2018
Charles Ellinas

So far it has been easier finding gas in the region than exporting it. The story behind the much-vaunted EastMed pipeline explains why

The EastMed gas pipeline from Israel through Cyprus and Greece to Europe is back in the limelight.

It was reported on November 24 that the governments of Israel, Cyprus, Greece and Italy reached agreement on the construction of this pipeline based on the results of a feasibility study funded by the EU. However, government sources from Cyprus said that even though an inter-governmental agreement is in sight, a few weeks are still needed to complete the process and obtain approval by the European Commission (EC).

The project is being performed by Edison, an EDF Group company, and Greece’s Depa with about €35 million in funding from the EC, as a project of common interest (PCI). In a recent presentation Depa reported the capacity of the pipeline to be 10-16 billion cubic metres per year (bcm/yr). The project is currently designed to initially carry 10bcm/yr from the East Med to Greece, about 1900km, where it will connect to the Poseidon pipeline in Italy, about 300km.

Even though for the East Med region exporting 10bcm/yr gas is quite important, it is only about two per cent of annual European gas consumption. This should put into context exaggerated claims from the region that the EastMed pipeline will “to some extent minimise Arab influence on Europe!”

The EastMed pipeline so far has the support of the four governments and the EC, but no international oil company (IOC) or investor has yet expressed interest to join.

The four governments and the EU cannot fund the project. This requires IOC and investor participation, and above all it requires buyers for its gas.

Rosneft applies for natural gas import license - ENTERPRISE

Sunday, 2 December 2018

Rosneft applies for natural gas import license: Russian energy giant Rosneft has begun the process of acquiring a license to import natural gas, sources told Al Mal on Thursday. The company has apparently received preliminary approval from the government to form a JV with a local entity for the activity, they added. If true, the move indicates that not only is the government jump starting the process of issuing gas import licenses, but that it has drawn the appetite of oil and gas majors.

Background: After being formed in 2017, the Natural Gas Regulatory Authority — the country’s regulator overseeing a newly liberalized gas import and distribution market — has not moved to issue licenses as quick as some in the industry had hoped. The regulator had postponed in September the issuance of natural gas import licenses to private sector companies, ostensibly because the private sector was “unprepared.” This all appeared to change following the signing of an agreements paving the way for gas imports from Israel. The Oil Ministry is ready to consider permit requests from the private sector to help Egypt become a regional hub for gas trading, Oil Ministry spokesperson Hamdi Abdel Aziz had said at the time. EGAS has renewed preliminary approvals giving Qalaa’s TAQA Arabia, BB Energy and Fleet Energy the import licenses.

East Mediterranean partnership signals an energy revolution - JERUSALEM POST

Tsipras (L), Netanyahu (R)

DECEMBER 1, 2018 22:24
EMMANUEL NAVON 

Natural gas has turned Greece from a rival to an ally just as relations between Israel and Turkey started deteriorating.

The announcement in November that Israel, Cyprus, Greece and Italy have agreed to build a natural gas pipeline (the longest in the world) from Israel’s offshore gas fields to Europe, clearly indicates that Israel has chosen the Greek option over the Turkish one. In the past, Israel had considered a pipeline to Europe via Turkey, but the idea was dropped in favor of the Greek option. Building a natural gas pipeline via Turkey would have been cheaper and more viable economically, but it became politically unfeasible due to Turkey’s hostile policy toward Israel, Cyprus and Greece.

Natural gas has turned Greece from a rival to an ally just as relations between Israel and Turkey started deteriorating. Israel discovered the huge Leviathan gas field in 2009, shortly before the 2010 MV Marmara incident, which contributed to the rift between Israel and Turkey. In 2010, Benjamin Netanyahu became the first sitting Israeli prime minister to visit Greece, and the Israeli and Greek air forces started their first joint military exercises. In September 2011, Israel and Greece signed a security cooperation agreement. Israel now uses Greek airspace for training purposes.

ExxonMobil's VP, Tristan Aspray, interviewed in Cyprus - SIGMA LIVE

30 November 2018 - SigmaLive TV

ExxonMobil Commences Drilling Despite Turkey's Verbal Threats - FORBES

Nov 29, 2018, 11:54am

Antonis Antoniou

ExxonMobil XOM +0.56% continues its exploratory offshore drilling in Cyprus’ Exclusive Economic Zone (EEZ) and — contrary to the Cypriot government’s fears — no Turkish ships appeared on the horizon.

Drillship Stena IceMax entered Block 10 of Cyprus’ EEZ and began drilling a couple of days ago. So far, there has been no actual response from Turkey, even though the government of Recep Tayyip Erdoğan had said that it would “react” to any kind of exploration activity in the Cypriot EEZ.

Turkey has vocally laid claim to parts of Cyprus’ EEZ and even though Block 10 does not fall within one of those areas, Turkey has nevertheless repeatedly warned (or, perhaps, threatened?) that it would react in order to protect the rights of Turkish Cypriots.

But there has been no action by Turkey so far to prevent ExxonMobil’s exploration effort.

Ministers of Energy, Foreign Affairs, US ambassador and ExxonMobil VP visit Stena Icemax - CYPRUS NEWS AGENCY

.NICOSIA 29/11/2018 17:56
Gregoris Savva

Ministers of Energy, Foreign Affairs, Georgios Lakkotrypis and Nicos Christodoulides, Kathleen Doherty, the US Ambassador to Cyprus, and ExxonMobil’s Vice President Tristan Aspray visited earlier today the drillship that carries out an exploratory drilling at the Deflini target in block 10 of Cyprus Exclusive Economic Zone on behalf of the ExxonMobil and Qatar Petroleum.

The exploratory deep-water drilling began on November 16 and is expected to be concluded by the end of the year.

Sources told CNA that during their visit to Stena Icemax, the two Ministers accompanied by Doherty, Aspray and other officials toured the drill ship's various installations and talked to the captain and crew as well as to the technical crew associated with the drilling.

Bulgaria eyes stake in planned LNG terminal in Alexandroupoli - KATHIMERINI

WEDNESDAY NOVEMBER 28, 2018, 09:22

Sofia plans to take a minority stake in a liquified natural gas (LNG) terminal near Greece’s northern city of Alexandroupoli, Bulgarian Energy Minister Temenouzhka Petkova has said, according to reports.

In comments made earlier this week, Petkova reportedly said that LNG offers Bulgaria an opportunity for further diversification of natural gas supplies, on top of the one billion cubic metres of gas from Azerbaijan, for which the Balkan state signed a contract several years ago.

“When we talk about the Greece-Bulgaria [gas] inter-connector, we must note the importance of another opportunity for diversification of gas deliveries and that is our participation in the Alexandroupoli terminal,” Petkova was quoted by the Independent Balkan News Agency (IBNA) as saying.

“It is a project of extreme importance to the entire region. It is in full synergy with the Greece-Bulgaria inter-connector and that is why the Bulgarian government discussed the prospect and took the decision to participate in this project as a shareholder, so that we have the opportunity for gas deliveries from various LNG sources, including the US, Qatar and Algeria,” she said, according to the report.

The TurkStream Opportunity - CENTER FOR STRATEGIC & INTERNATIONAL STUDIES

November 28, 2018

Nikos Tsafos

As the battle for the Nord Stream 2 pipeline project continues, the offshore section of the TurkStream gas pipeline, from Russia to Turkey, was inaugurated on Monday, November 19. Two broadly similar projects have triggered sharply different responses—no one is threatening sanctions over TurkStream, there are no grand legal or diplomatic chess moves to stop the project, and the op-eds and conferences denouncing the project are few and far between. That is good news—no one needs more Nord Stream 2-like controversy. But it is also good news because TurkStream can enhance energy security; but only if Europe acts. For a continent bitterly—and, often, needlessly— divided by pipelines, TurkStream offers an opportunity to depoliticize gas and show that new infrastructure can be a win-win for Russia and Europe.

TurkStream will have two parallel lines: the first to deliver gas to Turkey, the second for onward sale to Europe (although markets will determine the actual volume split). Like other Russian pipelines, the short-term impact will be to change how Russian gas is sent to Europe: rather than flowing through Ukraine, Russian gas will be shipped straight to Turkey and, later, Europe through the Black Sea. Over time, as Russian exports grow, the pipeline will be delivering new gas rather than acting purely as a substitute route. This evolution takes time: gas transit through Ukraine fell by approximately 40 percent between 2011 and 2014, after the Nord Stream 1 pipeline came online, but it had largely recovered by 2017 (2017 volumes were about 10 percent lower than 2011).

EastMed gas pipeline must overcome major barriers - GLOBES

27 Nov, 2018 12:37

Gabriel Mitchell

Governments may be enthusiastic about the idea of an underwater pipeline linking Israel to Europe, but it is unclear how the financial and engineering challenges can be met.

Israel's Minister of National infrastructures Energy and Water Resources Yuval Steinitz has announced that the governments of Israel, Greece, Cyprus, and Italy have reached an agreement to build a pipeline that would transport Israeli natural gas to the European market. Diplomatic cooperation is a necessary component to realizing large-scale, multinational energy projects, but there is a point in every process where politicians need to step aside and make room for the entrepreneurs, corporations, and engineers who will determine the commercial and technical feasibility of this vision.

Israel, Cyprus, and Greece have demonstrated an enduring interest in collaborating on an ambitious undersea pipeline that would deliver Israeli and Cypriot gas to Europe. Since 2011, heads of state from these three East Mediterranean states have met on a regular basis and signed MOUs pledging future energy cooperation (in addition to other areas), if and when the climate is right. Italy's deepening participation in these dialogues only adds to the general sense of enthusiasm surrounding the appropriately named "EastMed pipeline".

Neither consensus between multiple governments nor the European Union's commitment of $100 million in a feasibility study - a number that sounds significant, but in comparison to the estimated $7 billion pipeline costs, is a drop in the ocean - promises that this vision will become reality. After all, the average Israeli family invests a larger percentage as a down payment for an apartment.

ENERGY: Total and ENI seek to expand Cyprus oil & gas search - FINANCIAL MIRROR

26 November, 2018

Energy giants Total and Eni have submitted a joint bid for another license to explore and exploit oil and gas offshore Cyprus despite warnings from Turkey, Cypriot authorities said Monday.

In October, Cyprus decided to invite France’s Total, Italy’s Eni and ExxonMobil to bid for unclaimed block 7 of its exclusive Economic Zone (EEZ).

“An application was received on November 26, as part of the procedure for a Hydrocarbon Exploration License for Block 7, by Total / Eni,” said a Cyprus Energy Ministry statement on Monday.

“In the coming days, the application will be examined by the Advisory Committee, which will prepare an Introductory Report for the Minister for Energy. Subsequently, the Minister will present a proposal to the Council of Ministers, where the relevant decisions will be taken,” it added.

Last month, Cypriot Energy Minister George Lakkotrypis said that, due to its geology, firms have expressed an interest in block 7 and so it was decided to invite companies, that already have licences in neighbouring offshore blocks, to express an interest.

Israel, Cyprus, Greece and Italy agree on $7b. East Med gas pipeline to Europe - THE TIMES OF ISRAEL

24 November 2018, 10:03 pm

Greece, Italy, and Cyprus have reached an agreement with Israel to lay a pipeline connecting the Jewish state’s gas reserves to the three countries, in a major project estimated at costing over $7 billion that will supply gas from the eastern Mediterranean to Europe, as the continent seeks to diversify its energy supply.

According to Hadashot TV, the European Union agreed to invest $100 million in a feasibility study for the project before the agreement was reached over the laying of the longest and deepest underwater gas pipeline in the world.

As part of the agreement, Israel and Cyprus will be granted preference over other countries in exporting gas to the European market, according to the report.

The EastMed Pipeline Project is to start about 170 kilometers (105 miles) off Cyprus’s southern coast and stretch for 2,200 kilometers (1,350 miles) to reach Otranto, Italy, via Crete and the Greek mainland.

The pipeline will have the capacity to carry up to 20 billion cubic meters (706 billion cubic feet) of gas yearly. Europe’s gas import needs are projected to increase by 100 billion cubic meters (3.5 billion cubic feet) annually by 2030.

Work on the project is expected to begin within a few months, and to conclude within five years, Hadashot TV reported.

EastMed pipeline to be ready in 2025, if all goes well - IBNA

23 November 2018, 11:09

Nefeli Tzanetakou

According to the Israeli Foreign Ministry, final decisions on the EastMed pipeline will be made in 2019, once a study on the project’s commercial feasibility is complete, while Israel, Cyprus and Greece are expected to sign an intergovernmental agreement in the upcoming period.

If, according to the study, gas demand in Europe and energy market forecasts justify the need to complete the project, in this case the 2,000-kilometer underwater pipeline – worth an estimated 6.75 billion dollars – we be ready for operation in 2025.

The political feasibility of the project is undoubtable, as the East Med pipeline will connect – at all levels - the Eastern Mediterranean with Europe.

Energy Min Stathakis inaugurates LNG expansion project in Revithousa - ANA-MPA

22 Νοεμβρίου 2018, 20:21:26

Greece on Thursday officially inaugurated the third tank of LNG in Revithousa. Environment and Energy Minister George Stathakis, addressing the inauguration ceremony said the project was creating new data in the natural gas market.

Presenting the government’s policy on natural gas, Stathakis said it was focusing on preserving networks under state control and their expansion in 18 regional cities, strengthening interconnections in the Balkans with projects such as the IGB pipeline and an intention to interconnect with FYROM, transforming Greece into a natural gas hub. He added that DESFA is playing a strategic role in this policy.

The Revithousa LNG terminal is one of the 13 operating in Europe and the only one in the Balkans. With the addition of the third tank the terminal’s capacity rises from 130,000 to 225,000 cubic meters, or 1,000-1,400 cubic meters per hour. The project also included an upgrading of port installations allowing biggest ships to dock (260,000 dwt from 180,000 currently). The project’s budget totalled 143 million euros, using community funds (35 pct), loans worth 80 million euros from the European Investment Bank and DESFA’s own capital.

Eni finishes drilling ninth well in Zohr field - ENTERPRISE

Wednesday, 21 November 2018

Italy’s Eni has completed drilling work on Zohr’s ninth deepwater well at a cost of USD 300 mn, according to an industry source. Early tests put initial production levels at 150 mcf/d.

The well was closed after the company finished drilling due lack of capacity at the treatment plant, but will enter production by the end of the year once the sixth gas treatment plant is completed. 

Production from the ninth well will increase Eni’s Zohr production to 2.25 bcf/d. Zohr’s total output will reportedly reach 2.95 bcf/d by the time the field’s development is complete in July 2019. 

Eni had previously estimated the field’s final output would reach 2.7 bcf/d.

Israeli Gas Exports to Egypt Will Initially Flow Through pan-Arab Pipeline - HAARETZ / REUTERS

Nov 20, 2018 4:19 AM

Ora Coren

When exports of Israeli natural gas to Egypt being sometime in the first half of next year, they won’t be going through the EMG pipeline in Sinai but through Israel’s domestic network and then on to the so-called pan-Arab pipeline.

Yossi Abu, chief executive of Delek Drilling, a partner in the two Israeli gas fields that will be selling energy to Egypt, said the EMG pipeline would only be used at a later stage. Later still, he said, gas from Israel’s Tamar and Leviathan fields would be delivered directly to EMG, thereby avoiding the Israeli domestic pipeline network altogether.

Speaking at an energy conference, Abu expressed optimism regarding exports not only to Egypt but to elsewhere in the region. Apart from exports to Egypt, he said the pipeline between Israel and Jordan would begin pumping in May or June next year and be fully operational by the end of 2019, ahead of schedule.

“We’ve succeeded in opening up the Egyptian economy, but that’s just the start,” Abu said. “There’s a lot to do on a regional level and that way become a global player.”

Abu spoke as Ron Adam, a Foreign Ministry official, told the conference that a decision on a Mediterranean gas pipeline linking Israel to Italy via Cyprus and Greece would be made next year after a market survey was completed.

If the survey reveals there is demand from European customers, the projected 2,100-kilometer, 25-billion-shekel ($6.75 billion) pipeline would come on line in 2025. An agreement between all the countries involved is expected to be signed at the end of the month.

Mathios Rigas' presentation at the 16th Israel Business and Energy Convention - ENERGEAN OIL & GAS

 

TurkStream: Who profits, who loses out? - DW

19.Nov.2018

Nik Martin

As Turkey and Russia inaugurate the sea section of the TurkStream gas pipeline, President Recep Tayyip Erdogan can boast of Ankara's new geopolitical influence. DW asks why the pipeline is causing such a fuss.

Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan on Monday marked the completion of the offshore phase of TurkStream, a natural gas pipeline connecting the two countries.

Erdogan told reporters TurkStream would be ready to operate in 2019 after tests are carried out, while Putin said the pipeline would make Turkey a "major European hub." The tie-up with Moscow would "without a doubt influence the geopolitical standing of the Turkish Republic."

The new energy cooperation comes despite Moscow severing ties with Ankara three years ago after a Turkish fighter jet shot down a Russian warplane on the Syrian border.

Turkish claims in East Med unveiled in maps - KATHIMERINI

18 NOVEMBER 2018 : 21:16

Angelos Syrigos, Vassilis Nedos

With drilling under way in Cyprus’s exclusive economic zone, Kathimerini has seen seven maps outlining Turkey’s claims in the Eastern Mediterranean, revealing its intentions in the region.

The maps, which have been cited in recent weeks by Turkish Defense Minister Hulusi Akar, suggest that any others in the region considering the demarcation of maritime regions would have to consult with Turkey first.

However, the delineations on the maps only take into consideration Turkey and the mainlands of other countries facing its shores – ignoring the islands in between, such Rhodes, Karpathos and Crete, not to mention Cyprus.

The maps were created between 2010 and 2012, before Cyprus’s demarcation agreements with Egypt in 2003, Lebanon in 2007 and Israel in 2010.

These deals allowed Cyprus to delimit its exclusive economic zone in its southern and southeastern seas. Subsequently, it divided most of its maritime areas into 13 parts and proceeded with international tenders for their exploration and exploitation.

Undersea gas fires Egypt’s regional energy dreams - TIMES OF ISRAEL

NOVEMBER 18, 2018, 11:00 am

Mona Salem

Newly flowing gas from four Mediterranean fields, including the vast Zohr field, as well as deals with Israel and Cyprus, has helped ease Cairo’s financial woes

CAIRO, Egypt (AFP) — Egypt is looking to use its vast, newly tapped undersea gas reserves to establish itself as a key energy exporter and revive its flagging economy.

Encouraged by the discovery of huge natural gas fields in the Mediterranean, Cairo has in recent months signed gas deals with neighboring Israel as well as Cyprus and Greece.

Former oil minister Osama Kamal said Egypt has a “plan to become a regional energy hub.”

In the past year, gas has started flowing from four major fields off Egypt’s Mediterranean coast, including the vast Zohr field, inaugurated with great ceremony by President Abdel-Fattah el-Sissi.

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.

Repsol, ELPE nearing finalized deal for new Ionian Sea block - ENERGY PRESS

16 November 2018

EDEY, the Greek Hydrocarbon Management Company, and a consortium comprising Spain’s Repsol and ELPE (Hellenic Petroleum) have completed negotiations for exploration and production rights at a new Ionian Sea block on offer.

The two sides have delivered a draft agreement to the energy ministry. It will also be forwarded to a supervisory committee within the next few days for approval before being signed by all sides involved and submitted to parliament for ratification. The agreement could be finalized by the end of the month, sources informed.

ENERGY: ExxonMobil begins hydrocarbon exploration off Cyprus - FINANCIAL MIRROR

16 November, 2018

US giant ExxonMobil has begun exploration for oil and gas in block 10 of Cyprus’ Exclusive Economic Zone (EEZ), Energy Minister George Lakkotrypis said on Friday.

Lakkotrypis confirmed test drilling has started offshore Cyprus following a meeting with US Assistant Secretary of State for Energy Resources Francis Fannon in Nicosia.

Fannon is on a regional tour – that includes Israel and Egypt - to meet officials and private sector representatives to discuss energy security and regional cooperation on energy issues.

“His trip will highlight the economic opportunities in the energy sector for Eastern Mediterranean gas development and related exports and encourage discussions on how countries can harness this potential for increased regional stability and economic growth,” the State Department said.

Lakkotrypis said he discussed Cyprus-US energy cooperation, East Med hydrocarbons potential and the strategic significance of US companies active in the Cypriot EEZ.

Egypt pays Dana Gas USD 111 mn in arrears in 9M2018 - ENTERPRISE

Thursday, 15 November 2018

Egypt paid Dana Gas USD 111 mn in arrears owed in its Financial Results For 9M & Q3 2018, the company said in its earnings release on Wednesday. 

The story comes as Egypt has been stepping up payments to international oil companies (IOCs), with arrears to oil producers have fallen to their lowest levels yet, coming in at USD 1.2 bn at the end of FY2017-18. 

The company noted that its production output in Egypt fell to 34,500 boepd in 9M2018, from 39,600 boepd in 9M2017.

The Company's 9M 2018 revenue increased 6% to $351 million (AED1,287 mm) from $330 million (AED1,210 mm) over the same period last year. Correspondingly, Q3 2018 revenue increased 6% to $115 million (AED422 mm) from $108 million (AED396 mm). The increase in revenue, driven by higher realised hydrocarbon prices, helped offset production decreases in Egypt and the UAE.

US State Department backs Cyprus’s right to drill in EEZ - KATHIMERINI / KNEWS

WEDNESDAY NOVEMBER 14, 2018 - 08:42

Hours after Turkish President Recep Tayyip Erdogan urged all parties engaging in gas exploration activities in the Eastern Mediterranean not to pressure it over Ankara’s own energy plans in the region, the US State Department said Washington “discourages any actions or rhetoric that increase tensions in the region.”

“The US policy on Cyprus’s exclusive economic zone is longstanding and has not changed: the United States recognizes the right of the Republic of Cyprus to develop its resources in its EEZ,” a spokesperson said in response to a question by the Hellas Journal website.

In what was seen as a warning aimed at Greece, Cyprus and the US, Erdogan was quoted as saying on Tuesday, “we tell our friends: Don’t push us, don’t press us.”

Exxon expected to start drilling by week’s end - CYPRUS MAIL

TEKMOR Note: Welcome, USA!

November 14, 2018

Evie Andreou

The Stena Icemax drillship leased by ExxonMobil, is expected to begin drilling in Cyprus’ offshore block 10 by the end of the week, it was reported on Wednesday.

The drillship arrived on location in block 10 on Sunday and is preparing to begin drilling in the site dubbed by Exxon as ‘Delphine’ after the Greek mythology dolphin-shaped sea daemon that was in the service of god Poseidon.

Cyprus News Agency (CNA), said, citing sources, that at the moment the exact time of when the drilling will start cannot be determined due to technical and environmental factors.

The same is true for the duration of the drilling, which is expected to last around two months. Progress, sources told CNA, will depend on the speed of winds, pressure as well as hard rock that can be found during drilling.

The drilling rig will descend about two kilometres to the bottom and about two to three km further.

Israel looks to new Arab allies to export gas in volatile region - FINANCIAL TIMES

Jerusalem, 13 November 2018
Mehul Srivastava 

Netanyahu seizes on natural gas to turn Egypt and Jordan into economic partners

When Yuval Steinitz was doing his military service in the Israeli army, Egypt was an enemy and Israel lived in fear of having its oil supplies choked off by Arab rivals. But in recent years, as Israel’s energy minister, Mr Steinitz, 56, found himself in hush-hush meetings with Egyptian officials.

On the agenda: Israel’s gas conundrum. Since the late 1990s, it has discovered huge natural gas reserves off its coast. The initial finds allowed the tiny nation to wean itself off some energy imports, but additional discoveries — which could fuel Israel for 50 years, according to some estimates — have unlocked the potential for exports. “This was unthinkable just a decade or two ago,” Mr Steinitz told the Financial Times.

His problem is getting the gas out of an often hostile neighbourhood. Israel’s long-term goal is to fuel energy-hungry nations in Europe. But in the meantime Mr Steinitz has helped smooth a lucrative place holder agreement with Egypt — which has had a peace treaty with Israel since 1979.

Shell processing 300 mcf/d of gas at Idku liquefaction plant -sources - ENTERPRISE

Monday, 12 November 2018

Royal Dutch Shell’s Idku liquefaction plant is reportedly processing 300 mcf/d of natural gas, compared to 250 mcf/d last month, sources close to the matter said yesterday. 

Natural gas earmarked for exports also increased by around 50 mcf/d due to lower local consumption levels during winter. 

Shell and the Oil Ministry had agreed back in 2016 to gradually ramp up production at the Idku LNG plant.

Eni sells to Mubadala Petroleum a 20% stake in the Nour North Sinai Offshore concession in Egypt - ENI

Abu Dhabi (UAE), 12 November 2018

Eni further strengthens its ties with Mubadala Petroleum, building on the successful partnership in the Shorouk concession. The Chief Executive Officer of Petroleum & Petrochemicals, Mubadala Investment Company, and Chairman of Mubadala Petroleum, Musabbeh Al Kaabi, and the Chief Executive Officer of Eni, Claudio Descalzi, signed an agreement today for the sale of a 20% participating interest, out of Eni’s share, in the Nour North Sinai Offshore concession, in Egypt, to Mubadala Petroleum, a wholly owned subsidiary of Mubadala Investment Company.

BP to Invest $1.8B in Egypt - EGYPT OIL & GAS

Monday, 12th November 2018

BP will invest $1.8 billion in Egypt next year, according to BP’s chief executive Bob Dudley, The National reported.

“We’ve spent in the last two years $6.8bn in Egypt and it will be about $1.8bn dollars next year,” Dudley told The National in an interview in Abu Dhabi.

BP’s regional president of North Africa, Hesham Mekkawy, previously said that the company will invest $2 billion in Egypt during 2019.

BP’s latest spending plans are a substantial decrease from the $4 billion invested in Egypt in 2017.

Dudley also confirmed that the company will be investing significantly in Abu Dhabi, promising $1 billon each year. The company has already discussed investing in the Ruwais downstream facility with the Abu Dhabi National Oil Company (ADNOC). The Emirate is planning to invest $45 billion in the facility over the next five years in collaboration with international partners.

“We’ve reviewed and we’re part of the process with Ruwais. That’s yet to be decided”, Dudley said.

Oil Ministry expects USD 10 bn in new oil and gas investment during current fiscal year - ENTERPRISE

Sunday, 11 November 2018

INVESTMENT WATCH- Oil Ministry expects USD 10 bn in new oil and gas investment during current fiscal year. 

Oil Minister Tarek El Molla said on Saturday that his ministry expects some USD 10 bn in new investment in the sector in 2018-19. The figure includes both funding for both exploration and production activities. 

The minister said high appetite among international oil companies (IOCs) for Egyptian opportunities underscores their confidence in Egypt’s improved investment climate. 

The minister expects IOCs to bid in an upcoming sale of exploration blocks in the Red Sea region, saying it would be the first time blocks would be on offer in that region.