Saturday, March 4, 2017

Libyan strongman's forces lose control of key oil export terminal - FRANCE24

2017-March-04

The forces of eastern Libya's military strongman Khalifa Haftar have lost control of a key oil export terminal they had seized last year, a spokesman conceded on Saturday.

Colonel Ahmad al-Mismari said that the rival forces had overrun the main airfield in the oil port of Ras Lanuf and identified them as Islamists of the Benghazi Defence Brigades.

An array of forces, most of them loyal to the UN-backed government in Tripoli, have been involved in efforts to oust Haftar from the oil ports, whose seizure enabled him to pose a major challenge to its authority.

But the Tripoli government on Friday evening denied any involvement in the renewed offensive on the oil ports, condemning it as a "military escalation".

The forces involved in the latest assault are a mixture of Islamist militias, eastern tribes opposed to Haftar and members of the Petroleum Facilities Guard which controlled the ports before Haftar's takeover.

Friday, March 3, 2017

TurkStream to make large contribution to energy security in Greece - WORLD PIPELINES

Friday, 03 March 2017 09:36
Stephanie Roker

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Giorgos Tsipras, Secretary General for International Economic Relations at the Greek Ministry of Foreign Affairs, took place at the Company’s headquarters on 1 March.

The parties expressed their appreciation for the current state of the Russian-Greek partnership in the energy sector and discussed its development prospects. A focus was placed on efforts for securing transit of Russian gas across Greece to Italy as part of the TurkStream project.

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

Logo of Austrian oil and gas group OMV at Vienna gas station
on November 9, 2016 REUTERS,Heinz-Peter Bader
Fri Mar 3, 2017 | 5:44pm ESTReporting by Maria Sheahan and Shadia Nasralla; editing by Grant McCool

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

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

Cyprus and Egypt sign series of bilateral deals - CYPRUS MAIL

Cyprus Finance Minister Harris Georghiades and Egypt's Minister
for Investment and International Cooperation Dr Sahar Nasr
MARCH 3RD, 2017

CYPRUS and Egypt on Friday signed a series of agreements and MoUs to enhance bilateral ties and further their strategic partnership.

During a ceremony in Nicosia, Finance minister Harris Georgiades, and his Egyptian counterpart Sahar Nasr, signed an agreement in the field of labour.

The Egyptian minister also signed an agreement with Transport minister Marios Demetriades on the protection and return of stolen or illicitly imported, exported or transferred cultural property.

MoUs were also signed with the Cyprus Investment Promotion Agency and the
Chamber of Commerce and Industry with the Egyptian businessmen’s association.

Georgiades spoke of “another important step in enhancing the political and economic ties” between the two countries.


“We consider our relationship with Egypt as one of strategic importance. We consider Egypt a valued partner and we remain committed to further expanding and enhancing our already excellent and closed ties and today we have made an important step in this direction,” he said.

US backs Greece’s efforts to build EU energy connections

MARCH 3, 2017, 18:42
Kostis Geropoulos

DELPHI, Greece – The United States strongly supports Greece’s efforts to build its energy connections with Europe, US Ambassador to Athens Geoffrey Pyatt told the Delphi Economic Forum on March 3.

“Projects like TAP (the Trans Adriatic Pipeline), the Bulgaria-Greece-Interconnector (IGB), Revythousa (LNG terminal) and the proposed FSRU (Floating Storage Regasification Unit) near Alexandroupolis all help cement Greece’s critical role in transforming the energy security in southeast Europe and will help drive economic growth in the years ahead,” Pyatt said.

Newly found reserves in the East Mediterranean could also help boost Europe’s energy security. A solution to the Cyprus issue could facilitate the export of hydrocarbons from the East Med, German Marshall Fund Vice President Ian Lesser told New Europe on the sidelines of the Delphi forum.

Business in Brief: Pipeline for Gas to Turkey Could Be Ready in Four Years, Delek-Avner CEO Says - HAARETZ / REUTERS

TheMarker Mar 03, 2017 12:10 AM

Pipeline for gas to Turkey could be ready in four years, Delek-Avner CEO says
An underwater pipeline connecting Israel’s massive offshore natural gas field Leviathan to Turkey could be built within four years [TEKMOR note: special emphasis on 'could'], one of the partners in the project said Thursday. Israel has been pursuing several regional export deals for its newfound gas reserves and the Leviathan group is moving ahead with development plans since making its final $3.75 billion final investment decision last week.

Yossi Abu, CEO of Delek Drilling and Avner Oil, said a new 500-kilometer (310-mile) pipeline could have gas flowing to Turkey by the end of 2020, about a year after it comes online for the Israeli market. “This is the target,” he told reporters at a news briefing.

Thursday, March 2, 2017

Farstad PSVs start support work offshore Egypt - OFFSHORE MAGAZINE

MARCH/02/2017
Offshore staff

AALESUND, Norway – Farstad Shipping has won a contract to support a field development project offshore Egypt from an unnamed international operator.

The platform supply vessels Far Server and Far Serenade should have started the 3.5-month campaign, with options to extend by 30 days.

Work starts on Leviathan field’s first phase - OIL & GAS JOURNAL

HOUSTON, MARCH/02/2017
By OGJ editors

Wood Group has begun detailed engineering for the 30,000-ton fixed platform to be installed offshore Israel to handle production from deepwater Leviathan natural gas field (OGJ Online, Feb. 23, 2017).

Operator Noble Energy Inc. has drilled two of the four wells to be completed subsea in about 5,200 ft of water during the first development phase. Each will be able to produce more than 300 MMcfd of gas.

Twin 73-mile, 18-in. flowlines will carry production to the platform, which will be set in 270 ft of water about 6 miles from shore.

Subsea 7 engineering teams start on Atoll project offshore Egypt - OFFSHORE MAGAZINE

March/02/2017
Offshore staff

LUXEMBOURG – Subsea 7 says the last stage of the offshore campaign is under way in the Egyptian sector of the Mediterranean Sea for Phase One of the West Nile Delta project on the Taurus and Libra fields.

Fabrication has started for Phase Two on the Giza, Fayoum, and Raven fields. The company’s work on the East Nile Delta project is substantially completed and its engineering teams have mobilized for the newly awarded Atoll project.

Offshore Brazil, the last of the company’s newbuild Brazilian PLSVs, Seven Cruzeiro, started a long-term contract in January.

In the UK North Sea, preparations have continued for installation of pipeline bundles for the Culzean, Callater, and Western Isles projects.

Subsea 7 is cautiously optimistic about future prospects. It says the oil and gas market has achieved a degree of stability in recent months and there are indications that project sanctions will increase.

Israel Quietly Begins Exporting Natural Gas to Jordan Amid Political Sensitivities - HAARETZ

King Abdullah II of Jordan on Capitol Hill in Washington D.C.,
February 3, 2015. Allison Shelley, AFP
Mar 02, 2017 12:39 AM
Eran Azran 

To keep the Israeli side at arm's length, the gas is technically being sold to the Jordanians by an American company.

Israel has begun quietly exporting natural gas to Jordan after two Jordanian companies – Arab Potash and Jordan Bromine – were connected to Israel’s national pipeline network.

The deliveries to the two companies, which operate plants on the Jordanian side of the Dead Sea, began in January, but all the sides involved opted to keep a low profile because of the political sensitivities in Jordan about doing business with Israel.

State-owned Arab Potash and Jordan Bromine signed an accord three years ago to buy the gas from Israel’s Tamar gas field in a 15-year, $500 million deal, with the U.S. State Department acting as a go-between.

RAE summons DESFA over LNG unit upgrade delay and cost - ENERGY PRESS

02/March/2017

Despite announcing its completion of a 25.1 million-euro investment, DESFA, the natural gas grid operator, has failed to satisfy RAE, the Regulatory Authority for Energy, which summoned operator officials for a hearing on project delays and costs concerning the grid’s infrastructure.

Concerns raised by the recent energy crisis prompted the authority to make this move. RAE has requested further details on the reasons behind project delays, according to energypress sources.

Wood Group begins detailed engineering of Leviathan for Noble Energy - WORLD OIL

March/2/2017

HOUSTON, Texas -- Wood Group recently completed the seven-month front-end engineering design (FEED) for Noble Energy’s Leviathan Field Development Project in the Eastern Mediterranean Sea and has started the detailed engineering for the platform, including the topsides and jacket. The FEED and detail design has a total contract value of approximately $95 million.

The estimated 30,000-ton fixed platform is being initially designed to process 1.2 Bcfd of gas, expandable to 2.1 Bcfd to accommodate future production. The platform will be installed in an 86-m water depth.


The Leviathan project adds to Wood Group’s portfolio of projects executed for Noble Energy. Wood Group previously designed the Tamar platform topsides; the Tamar onshore compression plant which receives natural gas from the Mari-B and Tamar fields in the Mediterranean Sea; and the topsides and jacket for the Alen production platform, offshore Equatorial Guinea.

Egypt's Sisi and Germany's Merkel to inaugurate megaproject in Egypt - AHRAM ONLINE

German Chancellor Angela Merkel (L) and Egyptian President Abdel
Fattah El-Sisi (R) in Berlin, May 2015 (Reuters)
Thursday 2 Mar 2017
Mahmoud Aziz


The two leaders will inaugurate the first phase of a Siemens project to build three new power plants in Egypt

German Chancellor Angela Merkel is set to arrive in Cairo Thursday on a two-day visit to meet with Egypt's President Abdel-Fattah El-Sisi, and to inaugurate with her counterpart the first phase of a Siemens megaproject.

The two leaders are scheduled to hold a press conference shortly after their meeting.

Sisi and Merkel will inaugurate the first phase of a project, run by the German company Siemens, to build three new power plants in Egypt.

Arbitrator rules Egypt must compensate EMG - GLOBES

2 Mar, 2017 15:56
Aviv Levy


The international arbitration panel ruled that Egypt failed to protect the Sinai pipeline from terrorists.


An announcement published yesterday by Ampal-American Israel Corporation concerning the arbitration ruling issued in the past few days by the International Centre for Settlement of Investment Disputes (ICSID) in Washington DC is likely to give hope to the company's bondholders. The company went bankrupt under controlling shareholder Yosef Maiman, with debts of nearly NIS 1 billion.

Dana Gas provides market update on its drilling program in Egypt - DANA GAS

Sharjah, UAE 2 March 2017

Dana Gas, the Middle East’s leading regional private sector natural gas company, provides a market update on its BP-operated Mocha-1 well, drilled in the El Matariya (Block 3) onshore concession in Egypt. 

The Mocha-1 exploration well on Block 3 has been completed. The well reached the top of the targeted Oligocene at a depth of 5,375 metres and reached total depth at 5,940 metres, making it the deepest onshore Nile Delta well drilled to date. The well was drilled through the Messinian (conventional) to Oligocene (deep) targets and encountered hydrocarbons. Whilst the Messinian objective encountered wet gas, the primary Oligocene target did not encounter gas in commercial quantities and the well has been P&A’ed. This important exploration well has helped to de-risk other Oligocene prospects and has proven the presence of a working petroleum system in the onshore Oligocene for the first time. The data is being analysed and evaluated to determine further followup potential. 

Can Leviathan Be Prevented From Swallowing Israel's Gas Market? - HAARETZ

Mar 02, 2017 12:50 AM
Avi Bar-Eli 

The field's partners pivoted to the domestic market in response to market shifts, but the government is stuck in 2015 with outdated regulations - and the public will pay the price.


A year ago, the partners in the Leviathan offshore natural gas field made major changes in the plan to develop the reservoir in the wake of the collapse of world energy prices and difficulties finding export markets.

Instead of building a floating offshore platform over the wells they are drilling, capable of handling large quantities of gas for export, they decided to make do, at least in the first stage of development, with using cheaper, more limited means to transport the gas to Israel. The floating platform will wait for the project’s second stage, when the partners hope to sign export contracts with Egypt or Turkey [or Greece/Italy].

Wednesday, March 1, 2017

Mapping The Eastern Mediterranean Gas Puzzle - HART ENERGY / WOOD MACKENZIE

Wednesday, March 1, 2017 - 7:00am Bas Percival, Wood Mackenzie 

This year is set to be pivotal for the Eastern Mediterranean upstream sector, with players expected to position themselves on an ever-evolving chessboard of markets, exploration activity and pricing.

In many ways, 2016 laid the groundwork for the activity Wood Mackenzie expects to see this year. Israel implemented a regulatory framework that will speed the way toward final investment decision (FID) for the Leviathan development; progress on the super giant Zohr Field continued at breakneck speed following FID in February 2016; and Cyprus launched its third licensing round, garnering interest aplenty.

Technical study for Alexandroupoli LNG unit by this summer - ENERGY PRESS

01/March/2017

Technical studies for a floating LNG terminal being planned for Alexandroupoli, northeastern Greece, are expected to be completed by this coming summer.

The prospective project was described as one of pivotal importance for Europe’s energy security and US interests, Robin Dunnigan, Deputy Assistant Secretary for Energy Diplomacy at the US Department of State’s Bureau of Energy Resources, noted yesterday following talks with officials at Gastrade, a Copelouzos corporate group company interested in the LNG unit’s development, as well as Greece’s energy minister Giorgos Stathakis.

The official pointed out that the US’s transformation from natural gas importer to exporter has led to a revision of the country’s outlook on the southeast European region and projects such as the prospective Alexandroupoli facility.

Naftogaz seeks to conduct independent audit of Egyptian project for possible sale - INTERFAX

01.03.2017, 11:51 

National joint-stock company Naftogaz Ukrainy intends to attract an investment and banking advisor who will assess how much the company can receive from sale of its assets in Egypt, Naftogaz Commercial Director Yuriy Vitrenko has said.

"He will assess real offers and how much [buyers] are ready to give for this project. We will compare it with our expectations," he told reporters in Kyiv on Tuesday.

Cyprus deal would boost Israel’s gas plans, ambassador says - CYPRUS MAIL

March 1, 2017
Elias Hazou

A peace deal on Cyprus would speed up Israel’s plans to export its gas to Turkey, the Israeli envoy to Ankara said on Wednesday. 


“We think that the solution to the Cyprus problem can speed up the energy project,” ambassador Eitan Naeh was quoted as saying, adding it was a “win-win” for all concerned.


TEKMOR Note: A Cyprus settlement is not possible on the current negotiation basis. EU-member Cyprus will carry on with its energy plans whereas the Turkish Cypriot minority, concentrated in the formerly majority Christian, now illegally occupied-colonised north, will become even more dependant on Turkey.

LNG plant at Vassilikos still an option, president says - CYPRUS MAIL

President Anastasiades,Mediterranean Oil and Gas Forum 2017
March 1, 2017
Angelos Anastasiou

Monetising the Aphrodite gas field is a top priority for the government, which based on expected future gas finds is also looking at options, including a liquefaction terminal at Vassilikos, President Nicos Anastasiades said on Wednesday.

In his speech at the 8th Mediterranean Oil and Gas Forum in Nicosia, Anastasiades presented the government’s strategy for the development of the hydrocarbons sector, which includes improved cooperation among the region’s countries.

Leviathan agreement opponents won't admit mistake - GLOBES

1 Mar, 2017 13:50
Amiram Barkat

Noble Energy's final investment decision (FID) disproves theories that the company has no intention of developing the field.

"The interest of the Leviathan owners is not to develop the reservoir, because they want to get as much money as possible out of Tamar. There won't be anything, because there is nothing. It's nothing but PR. The state should nationalize Leviathan and bring it back to state management, and put an end to this farce, in which Noble Energy and (Delek Group Ltd. (TASE: DLEKG) controlling shareholder) Yitzhak Tshuva do whatever they want with our gas" (television commentator Alon Nisser, January 19, 2017).

Tuesday, February 28, 2017

Who needs the Southern Gas Corridor? - ENERGY POST


February 28, 2017
Anna Roggenbuck

In its dogged pursuit of the Southern Gas Corridor, the European Commission is shutting its eyes to the human rights record of the Azerbaijani regime, writes Anna Roggenbuck, policy officer at CEE Bankwatch Network. According to Roggenbuck, there is no justification for this massive gas pipeline project, since it is also bad for the climate and, as recent events show, will not even help reduce Europe’s dependency on Russian gas.


Ministers, ambassadors and envoys from at least 15 countries, including Maroš Šefčovič, the European Commission’s Vice President for the Energy Union, gathered in the Azerbaijani capital last week to discuss the progress on the Southern Gas Corridor (SGC), the largest energy project the EU is currently pursuing.

But over the past couple of months, it seems the European Commission’s justifications for this controversial undertaking have been crumbling by the day.

Qalaa’s ERC in talks with Aramco, Shell over fuel imports - ENTERPRISE / YOUM7

Tuesday, 28 February 2017

Qalaa Holdings subsidiary Egyptian Refining Company (ERC) is in talks with Saudi Aramco, Kuwait National Petroleum Company and Shell to import an additional 1.2 mn tonnes of feedstock needed for its operations at USD 3.7 bn refinery in Mostorod, ERC’s Managing Director Mohamed Saad tells Youm7.

Eni’s offshore drilling gamble looks set to pay off - FINANCIAL TIMES

28.02.2017
Andrew Ward

Position of energy group’s chief is mired in uncertainty because of corruption probeEni chief denies wrongdoing in corruption case

Over a lunch of locally caught Mediterranean seafood, Claudio Descalzi delivers a pep talk to managers around a large dining table in the offices of a petroleum plant near Port Said, Egypt.

“We need to do more, more, more every day,” says the chief executive of Eni, the Italian oil and gas group.

EU's Move to Kill South Stream Cost Southeastern Europe Future Energy Security - SPUTNIK NEWS

28.02.201, updated 10:16

The countries of Southeastern Europe saw their future access to energy imperiled when EU bureaucrats decided to block the South Stream project, Srbijagas CEO Dusan Bajatovic told Sputnik Serbia; he stressed the importance of the Balkan region obtaining access to Russian gas via the Turkish Stream gas pipeline.

In an interview with Sputnik Serbia, Srbijagas chief executive Dusan Bajatovic said that EU bureaucrats' decision to block the South Stream project had cost Southeastern Europe its future access to energy.

He also underscored the significance of the Russian gas reaching the Balkan region via the Turkish Stream gas pipeline.

Monday, February 27, 2017

Delek Group Dusting Off Plans to Split Itself Into Two - HAARETZ

Delek Group controlling shareholder Yitzhak Tshuva. Tomer Appelbaum
Feb 27, 2017 3:49 AM
Eran Azran 

As sale of Phoenix stalls, conglomerate weighing plan to spin off non-energy businesses into separate company.


Delek Group, the holding company controlled by Yitzhak Tshuva, is reviving plans to split itself into two groups amid expectations that the sale of its insurance company Phoenix to China’s Fujian Yango Group will not win approval from regulators, The Marker has learned.

Delek has sought to reposition itself as a wide-ranging conglomerate, with holdings in everything from energy to real estate, vehicles and insurance, into a group focused on energy exploration.

Egypt to receive first shipment from Iraqi oil deal in March: Ambassador - AHRAM ONLINE

Monday 27 Feb 2017Menna Alaa El-Din

Iraq is expected to deliver in March the first oil shipment to Egypt as part of a one-year agreement reached by the two countries in late 2016, Iraqi Ambassador to Cairo Habib Al-Sadr said on Monday.

In an interview with Al-Ahram daily newspaper, Al-Sadr said the first batch, set at one million barrels per month, would be delivered at the end of March 2017, adding that the deal should bridge the gap between oil production and consumption in Egypt.

The ambassador, who took office two months ago, said he had been working "behind closed doors" to speed up the shipment's delivery, given its importance for both countries.

The Biggest-ever Infrastructure Project in Israel Gets Under Way - HAARETZ

Feb 27, 2017 6:38 AM
Eran Azran 

Plans to develop Phase 1 of the Leviathan gas field were approved last week. TheMarker answers who, what, where, when, why and how much

The largest infrastructure project in Israel’s history is about to get under way, after the partners in the Leviathan offshore natural gas field announced on Thursday the approval of a final investment decision of $3.75 billion in phase one of the project. Gas should be available to the Israeli market by the end of 2019, according to the plan.

It was a long road to the decision, which comes nearly seven years after gas was first discovered at the giant Mediterranean Sea field. During the intervening period, global energy prices collapsed, potential customers came and went and Israel underwent the long and painful process of sorting out its regulatory regime.

Phase one of the plan agreed upon by Noble Energy, Delek Drilling, Avner Oil Exploration and Ratio Oil Exploration involves drilling four subsea wells.

Sunday, February 26, 2017

Egypt turning the corner - IN CYPRUS / CYPRUS WEEKLY

February 26, 2017
Charles Ellinas

Tarek El Molla took over his role as Egypt’s Minister of Petroleum in September 2015, just after the discovery of the giant Zohr gas field. Since then, Egypt’s natural gas fortunes have been undergoing a massive transformation.

Firstly, gas from Zohr is expected to be achieved end of this year, and Egypt is now boldly predicting that it will achieve self-sufficiency by end of 2018, and re-start exports by 2020.

Egypt is in the process of implementing a modernisation programme with six major objectives to reform and transform all aspects of its oil and gas industry over the next four years:

How Will Jordanian Activists Reconcile ‘No Normalization With Israel,’ ‘Lower Fuel Prices’? - THE ALGEMEINER / JORDAN TIMES

FEBRUARY 26, 2017 4:08 PM
Elder of Ziyon

From the Jordan Times:

Activists have vowed that 2017 will be a year of “increased activism” against Jordanian normalisation of ties with Israel, with a particular focus on the two countries’ recent gas deal.
Activists from anti-normalisation campaigns have marked the beginning of what they predict will be an “eventful year” of activism, aimed at cancelling the gas deal with Israel and forcing the resignation of the government.
They said 2017 will be a period of concerted “anti-normalisation” activities which Jordanians from all backgrounds engage in, including protests against the gas deal, both on campuses and in the streets.

Video: EGYPS coverage, interview with BP's CEO, Bob Dudley - DMC TV CHANNEL / EGYPS

Osama Kamal interviews Bob Dudley - CEO of BP (approx. 12 minutes, @1:07:14) at the recent (14-16 Ferbruary 2017) Egypt Petroleum Show EGYPS 2017. Among other things he explains the reasoning behind a farm-out agreement after a find has already been made, OPEC's balancing act with the advent of shale gas and his great optimism on Egypt. BP's 2016-2017 investments were the largest in Egypt than in any other part of the world (BP operates in over 40 countries). 

Video: EGYPS coverage, interview with CEO of ENI - DMC TV CHANNEL / EGYPS

Osama Kamal interviews Claudio Descalzi (approx. 9 minutes, @57:50), CEO of ENI at the recent (14-16 Ferbruary 2017) Egypt Petroleum Show EGYPS 2017. Among other interesting things Descalzi says he expects the Zohr farm-out deal with Rosneft to be finalised by end of March 2017. Both BP (10%, signed) and Rosneft (30%) have an option by end of 2017 to increase their share in Zohr's Shoruk block by an additional 5%, which would leave Shorouk's owners as follows: 50% ENI, Rosneft 40%, BP 10%. 



Turkey's natural gas imports down by 4.5 pct in 2016 - DAILY SABAH / IEA

26.2.2017

Turkey has imported 46.164 billion cubic meters (bcm) natural gas in 2016, 2.2 bcm less compared to the total 48.266 bcm in 2015, according to the International Energy Agency (IEA).

The main decrease was seen in the gas imported from Russia, which decreased by 2.25 bcm from 26.623 bcm to 24.373 bcm.

The imports from Turkey's second largest gas provider Iran slightly decreased from 7.926 bcm to 7.704 bcm.

Imports from Azerbaijan increased by 312 mcm to a total of 6.48 bcm.

Around 15 percent of the total natural gas was imported in the form of LNG through the LNG terminals located in Turkey's western Izmir and northwestern Tekirdağ provinces.

Saturday, February 25, 2017

Eni starts extraction of 200m cubic feet of gas per day from Zohr in October - DAILY NEWS EGYPT

Saturday February 25, 2017
Mohamed Adel

Company to rent a temporary gas processing plant until the completion of the permanent unit, says source


The Italian company Eni aims to begin pumping 200m cubic feet of gas per day from the deep-water Zohr field in the Mediterranean by October, through a temporary ground gas processing station.

A source at the Egyptian Natural Gas Holding Company (EGAS) told Daily News Egypt that Eni will rent a temporary station until it completes the establishment of the permanent treatment plant.

He added that Eni is set to complete the first phase of the treatment plant with a capacity of 650m cubic feet of gas per day by the end of 2017.

Aircraft Carrier ‘USS George H.W. Bush’ Docks at NATO’s Base in Crete

USS George H.W. Bush
Feb 25, 2017
A. Makris

U.S. aircraft carrier USS George H.W. Bush sailed into Souda’s port in western Crete on Saturday, for the second time in the last few days.

The warship, which docked at NATO’s harbor in Marathi, was accompanied by three more vessels of the U.S. Navy and is expected to stay in Chania for about ten days. Its crew started disembarking after noon.

USS George H.W. Bush, nicknamed the “Avenger”, can carry 85 aircrafts and helicopters and about 6,000 crew members.

Egypt emerging from the doldrums - FREE PRESS JOURNAL

Feb 25, 2017 09:36 am
Sunanda K Datta-Ray

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

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

International Conference in Cyprus to focus on Mediterranean gas - FAMAGUSTA GAZETTE

Saturday, 25 February, 2017

Fourth Eastern Mediterranean Gas Conference (EMGC) to take place on 14-15 March in Nicosia aims to explore the region’s potential natural gas resources and the path to production.


The conference organized by Gulf Publishing Company is sponsored by Deloitte and Cyprus Hydrocarbons Company and supported by Tiger Offshore, Petroleum Economist, World Oil, and Gas Processing.

Friday, February 24, 2017

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

FEBRUARY 24, 2017
Haluk Direskeneli

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

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

Hellenic Petroleum reports record profits in 2016 - ANA-MPA

24/ 02/ 2017

Hellenic Petroleum announced record profits, production and exports in 2016 and said that last year it managed to lower its debt and to raise its domestic market share.

Net profits totaled 329 million euros in 2016, from 45 million in the previous year and a loss of 369 million in 2014, while EBITDA amounted to 836 million euros.

Comparable results showed an EBITDA of 731 million euros in 2016 and net profits of 265 million euros, from a loss of 117 million euros in 2015 and a profit of 2.0 million in 2014.
Hellenic Petroleum's board will seek shareholders' approval to a plan to pay a 0.20 euros per share dividend.

Southern Gas Corridor Advisory Council prioritizes TANAP - ANADOLU AGENCY / DAILY SABAH

BAKU, 24.2.2017

Energy and Natural Resources Minister Berat Albayrak attended the third ministerial meeting of the Southern Gas Corridor Advisory Council in Azerbaijan, where he was welcomed by Azeri President Ilham Aliyev.

In addition to cooperation in the energy sector, the meeting addressed the Southern Gas Corridor, consisting of the South Caucasus Pipeline, the Trans-Anatolian Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP), which will transport Azerbaijani natural gas to Europe.

President Aliyev stressed the importance of Turkey's high-level representation in the Southern Gas Corridor Advisory Council in the admission at the Haydar Aliyev Center in Baku.

Thursday, February 23, 2017

Leviathan partners ratify $3.75-billion gas-development plan - WORLD OIL

FEB/23/2017Yaacov Benmeleh

TEL AVIV (Bloomberg) -- The companies that own the rights to Leviathan, Israel’s largest natural gas reservoir, approved a plan to allocate $3.75 billion to develop the offshore site. Israel’s main gas equity index rose the most in almost five months.

The partners, led by Delek Group Ltd. and Houston-based Noble Energy, have agreed on a final investment decision, which lays out how the companies intend to spend the funds to develop Leviathan over the next three years, according to a Tel Aviv Stock Exchange filing Thursday.

The decision allows the partners to “launch the largest energy project in the history of Israel, that will also serve as one of the region’s energy anchors,” Yossi Abu, chief executive officer of Delek Drilling, said in an e-mailed statement. Delek Drilling holds a 22.7% stake in Leviathan and is a unit of Delek Group. “We will continue our activity to develop and expand our oil and gas assets in Israel and Cyprus,” Abu said.

Iraq to supply Egypt with 1 million barrels monthly: ambassador - EGYPT INDEPENDENT / REUTERS

Thu, 23/02/2017 - 05:00

The Iraqi Oil Marketing Company SOMO has signed a contract for oil exports with the Egyptian government, al-Ahram quoted Iraqi ambassador to Cairo Habib Mohamed Hady al-Sadr as saying on Thursday.

The company forwarded the contract to the Petroleum Ministry for final approval, he added.

Sadr told al-Ahram newspaper that the first batch of oil, estimated at 1 million barrels, will be handed over to Egypt in the last 10 days of March 2018.

Egypt, Iraq and Jordan are preparing for a major strategic joint energy project, he added. The three countries will extend oil and natural gas pipelines from Basra oil fields through Aqaba port in Jordan to Egypt.

Noble Energy sanctions Leviathan project offshore Israel - NOBLE ENERGY

Houston, Feb. 23, 2017 (GLOBE NEWSWIRE)

First gas sales targeted for the end of 2019


Noble Energy, Inc. (NYSE: NBL) ("Noble Energy" or "the Company") announced today that it has sanctioned the first phase of the Leviathan natural gas project offshore Israel, with first gas targeted for the end of 2019. Noble Energy is the operator of the Leviathan Field, which contains 22 trillion cubic feet (Tcf) of gross recoverable natural gas resources.

David L. Stover, Noble Energy's Chairman, President and CEO, commented, "Leviathan marks our third major natural gas development offshore Israel. Bringing Leviathan online will expand Israel's supply of natural gas, further support the State's commitment to convert coal-fired power generation facilities to cleaner burning gas, and provide affordable energy resources to Israeli citizens and neighboring countries in the undersupplied region. Leviathan will provide a second source of natural gas for Israel through a separate tie-in location in northern Israel. Noble Energy's financial strength and capability, proven technical expertise, and phased Leviathan project development approach position us to commence first gas on schedule and within budget."

Turkey pipelines carried 500M barrels of crude oil in 2016 - DAILY SABAH

23.2.2017

Pipelines in Turkey carried a total of around 500 million barrels of crude oil for global markets in 2016, 50.9 percent of which was transported via the Baku-Tbilisi-Ceyhan Crude Oil Pipeline (COP).

According to data released by the Turkish Petroleum Pipeline Corporation (BOTAŞ), approximately 500 million barrels of crude oil were transported through Iraq-Turkey COP, Ceyhan-Kırıkkale COP, Batman-Dörtyol COP and Baku-Tbilisi-Ceyhan COP. The figure was around 1.2 percent less compared to the previous year's 505.3 million barrels. Last year approximately 254 million barrels were transferred through the Baku-Tbilisi-Ceyhan COP, some 50.9 percent of the total figure. In addition, 190 million barrels were transported through the Iraq-Turkey COP, 35.3 million were carried through the Ceyhan-Kırıkkale COP, and close to 20 million barrels were delivered through the Batman-Dörtyol COP during the same period.

Partners in Israeli Leviathan gas field okay $3.75 billion investment - REUTERS

Thu Feb 23, 2017 | 2:44am ESTReporting by Tova Cohen

The partners in the Leviathan natural gas field said on Thursday they approved a $3.75 billion final investment decision (FID) in the first phase of the giant reservoir, the largest energy project in Israel's history.

The reservoir, located 100 kilometers (62 miles) west of Haifa, was discovered in December 2010 and is one of the largest offshore natural gas discoveries in the world in the previous decade.

The project's $3.75 billion budget is in addition to $1 billion that has already been invested to date in various exploration, appraisal and planning activities.

According to the development plan that was approved last year by the government, the project will be completed within less than three years and the gas from Leviathan will be available to the Israeli market by the end of 2019.

Italy says no problem with construction of TAP pipeline - YAHOO FINANCE / REUTERS

February 23, 2017Reporting by Nailia Bagirova; Writing by Margarita Antidze; Editing by Joseph Radford

BAKU (Reuters) - Italy sees no problems with the construction of its section of the Trans Adriatic Pipeline (TAP), the country's economic development minister said on Thursday.

More than 200 olive trees in southern Italy stand in the way of a $45 billion pipeline designed to bring gas from ex-Soviet Azerbaijan and help wean the European Union off its dependence on Russian energy.

Local authorities want the pipeline re-routed away from the prized grove, which includes trees thought to be more than 400 years old. That may delay a project that is meant within three years to carry the equivalent of 10 percent of Europe's Russian energy imports.

Wednesday, February 22, 2017

NPP project more important for Egypt than resumption of Russian tourist traffic — expert - TASS

Cairo, February 22, 20:53 UTC+3

Egypt’s political thinker believes the country will face an energy catastrophe if the country abandons building the nuclear power plant

The project of nuclear power plant (NPP) construction with Russia’s participation is much more important for Egypt than return of Russian tourists, Egypt’s political thinker and international petroleum strategist Professor Tarek Heggy told TASS in an interview on Wednesday.

"The NPP construction project in El Dabaa near Alexandria is important in itself and it is a much more significant project in positive terms than return of Russian tourists to Egypt," the expert said.

"Egypt will face an energy catastrophe if the country abandons building the NPP," Heggy said. National authorities "overstate their reserves and sufficiency of such resources as oil and gas," he said. "Egypt is at a very low level in terms of oil reserves and at an average level in terms of gas reserves," the expert added.

EGL transports SAIPEM cargo to Zohr - BREAK BULK

FEBRUARY 22, 2017

Heavy transport firm Egyptian Global Logistics has delivered outsized components for the Zohr gas project via the port of Alexandria on the West Verge of the Nile Delta.

The firm transported cargo weighing up to 40 tonnes and measuring up to 28 meters in length for EPC contractor Saipem’s operations in the Zohr gas field. The offshore gas field is located 120 miles north east of Port Said in Egypt.

The team from EGL handled logistics for the project, initially discharging from a gearless vessel at Alexandria Port before trucking to a storage area for reloading at the Saipem’s base at Abu Qir Port.

Cyprus President calls Israel a ‘natural partner’ - SAN DIEGO JEWISH WORLD

22 February 2017

NICOSIA, Cyprus (Press Release) — The President of Cyrus, Nicos Anastasiades, on Wednesday delivered a forceful address to an almost 100-member delegation of the Conference of Presidents of Major American Jewish Organizations visiting the country as part of the Conference’s 43rd Annual Leadership Mission to Israel.

Describing the relationship between Cyprus and Israel, the President declared, “In a world characterized by the rise of turmoil, extremism, sectarianism, and terrorism, Cyprus, and Israel—two countries at the heart of the Mediterranean that share the same values and common vision – are beacons of stability, and natural partners of the West in the Middle East.”

Is Noble Energy getting cold feet? - GLOBES

22 Feb, 2017 12:28Amiram Barkat

TEKMOR Note: See here Noble's press release about its decision to go ahead with the project.

Noble Energy is unwilling to take an investment decision until the gas agreement with Jordan is finalized.

The next milestone in the Israeli gas sector is scheduled for mid-2017; the partners in the Leviathan natural gas reservoir must produce a commitment to a $1.5 billion investment in developing the resource by then. According to the partners' interpretation, this amount includes the $1.2 billion that had already been invested in Leviathan before the current gas plan was formulated. If this is correct, then the milestone inserted in the plan is meaningless, because the developers have already gone far beyond that. Beyond that, one simple question arises: why has there been no official and binding decision to develop the reservoir?

Bulgaria-Greece gas link construction to start in early 2018 - energy min - SEE NEWS

SOFIA (Bulgaria), February 22

Bulgaria's energy ministry said on Wednesday that the construction of the gas interconnector Greece-Bulgaria (IGB) will start in the beginning of 2018.

The 182 km long IGB pipeline will connect the northeastern Greek city of Komotini with Stara Zagora, in southern Bulgaria. The link is estimated to cost 220 million euro ($241.8 million).

"The energy minister of Azerbaijan, Natig Aliyev, confirmed before Bulgaria's caretaker energy minister Nikolay Pavlov his country's commitment to deliver 1 billion cu m of gas annually to Bulgaria," the energy ministry said in a statement. One of the conditions for the Azeri gas supplies is the construction of the IGB link.

Tuesday, February 21, 2017

Leviathan partners raise $1.75b from international lenders - JERUSALEM POST

February 21, 2017 17:30 
Sharon Udasin

The partners signed the financing agreement with a consortium of about 20 international and Israeli lenders, led by J.P. Morgan Limited and HSBC Pank Plc.

In a key step toward furnishing Israel and its neighbors with a robust natural-gas supply, the Leviathan reservoir partners have secured $1.75 billion in loans for the basin’s development.

The partners signed the financing agreement with a consortium of about 20 international and Israeli lenders, led by J.P. Morgan Limited and HSBC Bank PLC, according to a report submitted to the Tel Aviv Stock Exchange on Tuesday morning. The funds are expected to support the A1 development stage of the Leviathan project.

TransGlobe Energy Corporation Announces an Operations Update

CALGARY, ALBERTA--(Marketwired - Feb. 21, 2017)

TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX:TGL)(NASDAQ:TGA) announces an operational update. All dollar values are expressed in US dollars unless otherwise stated.


EASTERN DESERT - 
ARAB REPUBLIC OF EGYPT
North West Gharib, Arab Republic of Egypt (100% working interest, operated)

The Company is pleased to provide an update on the NWG exploration and development activities.