Tuesday, January 16, 2018

Egypt’s role indispensible in developing east Med gas hub -Butler - ENTERPRISE /FINANCIAL TIMES / AL SHOROUK


Tuesday, 16 January 2018

Egypt can once again become an energy exporter and “build on its existing role as one of the most important trading hubs in the region, ideally placed to link western and eastern markets,” Nick Butler writes for The Financial Times. “Egypt’s opportunity is that it finds itself at the crossroads of the emerging international trade in natural gas,” Butler writes. The potential collaboration on natural gas export between Egypt, Cyprus, Israel, and even potentially from Lebanon leaves Turkey as the loser regionally after having “destroyed its opportunity to provide an export route for gas from Cyprus by trying to link trade to a settlement of the island’s longstanding territorial division.” Butler insists that Egypt’s role will be vital in any major development, saying “in the Middle East nothing is ever simple and there will many a slip before the new pattern of trade is in place. But if the eastern Mediterranean is to be developed, Egypt’s role as the new regional trading hub looks indispensable.”

Sunday, January 14, 2018

Gas supply changes in Turkey - NATURAL GAS WORLD / THE OXFORD INSTITUTE FOR ENERGY STUDIES


Jan 10, 2018 11:59:pmOIES | Gulmira Rzayeva

SUMMARY

The Turkish government is in the process of making significant structural changes in the country’s energy sector in attempts to lessen its dependence on current import and transmission infrastructure capacity which is constrained and cannot meet gas demand in peak periods.

The Turkish government is in the process of making significant structural changes in the country’s energy sector in attempts to lessen its dependence on current import and transmission infrastructure capacity which is constrained and cannot meet gas demand in peak periods. It intends to diversify supply sources and gas import types (both pipeline gas and LNG/FSRU) to ensure imports are available from a wider range of available sources on competitive terms, at the same time storing more gas in the country once downstream infrastructure capacity allows, to export the excess of gas in the future.

 Consequently, BOTAŞ expects its maximum daily gas supply capacity to almost double by 2023, from the current 252 mcm/d (including storage capacity) to 473 mcm/d as new projects come on stream. This will extend Turkey’s ability to import gas from various sources by eliminating technical constraints. By doing so, Turkey intends to ensure supply security during the peak demand seasons and to reduce its dependence on existing suppliers, allowing it room to manoeuvre between them and other new options. 

Turkey is also expanding capacity at its existing LNG receiving terminals and building new FSRUs, taking advantage of the fact that this method of importing natural gas is available in a flexible and near immediate manner. This will give BOTAŞ and private companies an advantage in meeting the growing demand in winter time, instead of having to increase annual pipeline contract quantities (ACQ) due to the application of “take or pay” clauses.

Saturday, January 13, 2018

Introducing Zohr - EGYPT TODAY

Sat, Jan. 13, 2018
Doaa Farid 

CAIRO - 13 January 2018: Egypt officially started operations of the Mediterranean’s giant gas field Zohr last month, less than two and a half years since its discovery
and is currently producing 350 million cubic feet a day.

Development works of Zohr went faster than scheduled, as the initial plan was to start production in 2019. But the government is now expecting self-sufficiency of natural gas before the end of 2018, with gas production amounting to 6 billion cubic feet a day. The 350 million cubic feet per day output is the first result of a series of phases in the field. Minister of Petroleum and Mineral Resources Tarek El Molla announced in late December that the first phase of the project would be finalized in June 2018, when production will hit more than 1 billion cubic feet a day. Zohr gas is now pumped through the national grid, processed at the Ministry of Petroleum’s gas treatment plant in Port Said. The newly added production capacity pushed up Egypt’s natural gas production to 5.5 billion cubic feet per day, up from 5.1 billion.

Discovered in 2015 by Italian energy company Eni, Zohr gas field covers an area of 100 square meters with a depth of 1,450 meters. Investing around $10 billion in the project, Eni estimates a total output of approximately 30 trillion cubic feet of gas. The new field will help secure energy needs of a country that consumes around 6 billion cubic feet of gas a day, with 65% of them going toward the electricity sector.

Friday, January 12, 2018

Shell's Gaza Gas Field Sale Hits Problems - HART ENERGY / REUTERS



Friday, January 12, 2018 - 12:20pm

It may prove to be Royal Dutch Shell Plc's (NYSE: RDS.A) hardest sell. The Anglo-Dutch group is struggling to find a buyer for its gas field off the Gaza Strip, even among energy companies long used to dealing with projects fraught with political and security risks.

At least one European company has shown interest in the undeveloped Gaza Marine Field following a reconciliation deal in October between the two rival Palestinian factions, a source involved in the talks said.

But the firm's discussions over the field, located about 30 km (20 miles) off the Gaza coast, have ground to a halt since tensions in the wider region have taken a fresh turn for the worse, the source told Reuters.

"Until the political situation is resolved I really can't see anything happening here," he said.

Gaza Marine has long been seen as a golden opportunity for the cash-strapped Palestinian Authority to join the Mediterranean gas bonanza, providing a major source of income to reduce its reliance on foreign aid.

At Rome ‘Club Med’ summit, Greece gets a line on TAP gas to Italy - NEW EUROPE

JANUARY 12, 2018, 18:49 
Kostis Geropoulos

But East Med exports from Cyprus, Israel still pipe dream for now


As heads of state and government of Cyprus, France, Greece, Italy, Malta, Portugal and Spain, or so-called “Club Med,’ convened in Rome on January 10 for the fourth Summit of the Southern European Union countries, Cyprus President Nicos Anastasiades reportedly discussed energy issues with French President Emmanuel Macron and Italian Prime Minister Paolo Gentiloni. Currently, Italian energy major ENI and France’s Total are drilling for natural gas in Cyprus’ exclusive economic zone (EEZ). Also in Rome, Greek Prime Minister Alexis Tsipras and Gentiloni reportedly discussed energy cooperation. Greece and Italy are cooperating to bring Caspian gas to Europe via the Trans Adriatic Pipeline.

Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.

Thursday, January 11, 2018

Why Turkey supports TurkStream, TANAP? - ANADOLU AGENCY

11.01.2018 
Murat Temizer

With TANAP and TurkStream, Turkey will gain spare capacity for extra gas imports from new sources and for future re-exports

ANKARA - Turkey's new supply sources with new TANAP and TurkStream natural gas pipelines will help supply security and help meet demand surges in line with the Turkish government's energy policy to diversify sources, according to the latest report of the Oxford Institute for Energy Studies (OIES) on Thursday.

The Gas Supply Changes in Turkey report written by Gulmira Rzayeva, a fellow in the OIES discerned that the Turkish government is in the process of making significant structural changes to the country’s energy sector and the country expects two natural gas pipeline projects to be operational in the near future.

Israeli bank eyes Energean gas field development project - KATHIMERINI /REUTERS

10.01.2018 : 20:36

Bank Hapoalim wants to take a more active role in Israel’s growing natural gas sector and hopes to lead funding for two offshore gas fields being developed by a Greek energy firm, a bank official said on Wednesday.

Greece’s Energean has said it expects to spend up to $1.5 billion to tap the Karish and Tanin fields, which are situated off Israel’s coast and have combined gas reserves estimated at 2.4 trillion cubic feet.

“Until today, Bank Hapoalim, and the local financing market in general, have given funds as part of a consortium, but never leading it,” said Itamar Furman, who manages the energy sector at Hapoalim, Israel’s biggest bank.

Egypt's gas transmission strategy - PETROLEUM ECONOMIST

10 January 2018
Gerald Butt

With natural gas from the super-giant Zohr field now flowing ashore, plans are in place to make distribution of the fuel more efficient and to expand wind power

For the Egyptian government, 20 December 2017 was a red-letter day. It was when Eni produced first gas from the Zohr field 190km (118 miles) from the coast. Zohr is by far the biggest natural gas discovery in the Eastern Mediterranean, with estimated reserves of 30 trillion cubic feet. The arrival of Zohr gas ashore—at an initial rate of 350m cubic feet a day, rising to 1.2bn cf/d under Phase 1—is a major factor in the Egyptian government's decision to phase out liquefied natural gas imports during the course of this year and prepare for the restart of exports.

But the priority for the Egyptian authorities is to make sure that domestic demand for gas is satisfied—in particular for power generation. Nothing is more calculated to stoke social unrest than lengthy power cuts in Cairo and other overcrowded cities during the stiflingly hot summer months.

Wednesday, January 10, 2018

Germany’s DEA eyes boosting investment in Egypt - EGYPT TODAY



Wed, Jan. 10, 2018

CAIRO – 10 January 2018: Germany’s DEA Group planned to pump more investments in Gulf of Suez and Disouq regions in Egypt, CEO of the group Maria Moraeus Hanssen said Wednesday.

In a meeting with Minister of Petroleum Tarek El-Molla, Hanssen stated that Egypt is now an attractive investment destination especially after latest gas production from new fields, such as Zohr giant field and North Alexandria concession.

Oil and gas services subject to the VAT - ENTERPRISE

Wednesday, 10 January 2018

The Finance Ministry will be applying the value-added tax on 20 petroleum services that had been subject to a sales tax, according to Al Mal. 

While E&P operations are still exempt from the VAT, ancillary goods and services provided to operations at rigs are not. 

The list sent to the Oil Ministry last week includes medical and social services, supplying sites with passenger cars and spare parts, prepaid mobile phone cards, alcoholic beverages and tobacco, sportswear and gear, accounting services, as well as tour organization and operation, among others.

Tuesday, January 9, 2018

Geopolitics cloud prospects for East Mediterranean gas finds - FINANCIAL TIMES / ENERGY EGYPT


January 9, 2018

Fields are attractively close to Europe but political risks make development complex.

When gas started flowing from the Zohr field last month it was an important step in Egypt’s drive for energy independence and signified that the eastern Mediterranean was finally establishing itself as a force in gas production.

Claudio Descalzi, chief executive of Eni, the Italian group leading the $12bn project, said Zohr would “completely transform Egypt’s energy landscape, allowing it to become self-sufficient and turn from an importer of gas into a future exporter”.

Zohr is the largest hydrocarbon discovery made in the Mediterranean and the hunt is on for more. Israel and Cyprus see similar potential to end dependency on energy imports and generate an economic windfall by exporting surplus supplies. Lebanon is also opening its waters to exploration.

Monday, January 8, 2018

BTE2 Well Adds 25 mscf/d to Natural Gas Production - EGYPT OIL & GAS


Monday, 8th January 2018

Egypt’s BTE2 Well, which is operated by Royal Dutch Shell’s Joint Venture in Egypt, Badr El Din Petroleum Company (BAPETCO), has started production phase on January 7th, increasing the country’s natural gas output by 25 million standard cubic feet per day (mscf/d), which is planned to be increased to 50mscf/d after completing the drilling of BTE1 Well, Badr 3 Wells’ Manager, Anton Artes, told Al-Ahram Gate.

Egypt could replace Qatar as the main supplier of LNG to the UAE and Oman - ENTERPRISE

Monday, 8 January 2018

Egypt could replace Qatar as the main supplier of LNG to the UAE and Oman once we reach self-sufficiency by the end of the year, The National’s Jennifer Gnana says

Egypt’s imports of LNG have declined as it increases domestic production, but demand in other countries in the region is expected to continue increasing as LNG “forms part of a critical mix in the drive towards cleaner energy in the GCC.” 

While Qatar currently supplies its Gulf neighbors with LNG through a pipeline, recent political fallout has pushed the region’s biggest consumers to look elsewhere to supply their consumption. 

Egypt, “which enjoys warmer political ties with the UAE and Saudi Arabia, could look to supply its regional neighbors,” particularly when it ramps up production from the Zohr gas field, Gnana says.

Sunday, January 7, 2018

Turkey will not risk actively disrupting Cyprus’ energy plan, Greek minister says - CYPRUS MAIL

The exclusive economic zones of Greece and Cyprus as per UNCLOS


January 7, 2018

Any attempt on the part of Turkey to foment a fait accompli in Cyprus’ maritime area would be irrational and Ankara would not take such a risk, according to Dimitris Vitsas, Greece’s Alternate Minister of National Defence.

In an interview with the Cyprus News Agency, Vitsas also said he does not expect Ankara “to risk a defeat”, when asked about the possible emergence of a Turkish drillship in the area, and Athens reaction to such a move.

A Turkish fait accompli in Cyprus’ maritime area would be irrational, Greek Minister tells CNA - CYPRUS NEWS AGENCY


CYPRUS/Nicosia 07/01/2018 11:12 
Antonios Gkildakis

Any attempt on the part of Turkey for a fait accompli in Cyprus’ maritime area would be irrational, says Dimitris Vitsas, Greece’s Alternate Minister of National Defence, while noting that cooperation between Athens and Nicosia takes all options into account.

In an interview with the Cyprus News Agency, Vitsas also says that he does not expected Ankara “to risk a defeat”, when asked about the possible emergence of a Turkish drillship in the area, and Athens’ reaction to such a move.

Speaking about efforts for a Cyprus settlement, the Greek government official says that the Turkish side must realize that stagnation does not lead anywhere.

Friday, January 5, 2018

Egypt's Zohr: Towards self-sufficiency in gas? - AHRAM ONLINE


Friday 5 Jan 2018
Amany Ismail

Egypt’s Zohr Field, the largest offshore natural gas field in the Mediterranean, started production on 16 December. It could prove to be a permanent remedy to Egypt’s power needs and bring it closer to the goal of self-sufficiency in the energy sector in 2018.

Thursday, January 4, 2018

Saudi Aramco shows interest to do business in Cypriot EEZ - CYPRUS NEWS AGENCY

04/01/2018 10:36 
CNA - CYPRUS/Nicosia

Saudi Arabian oil company Saudi Aramco has expressed interest to do business in Cyprus’ Exclusive Economic Zone, according to a PIO press release.

It is noted that on the sidelines of President Anastasiades’ official visit to Saudi Arabia, Energy Minister George Lakkotrypis held contacts with officials of the Saudi Ministries of Energy and Tourism as well as with officials of Saudi Aramco, a worldwide giant on oil.

According to PIO, during the meeting , the Saudi Aramco representatives expressed interest to do business in Cyprus' EEZ, mainly because of the stability of Cyprus as an EU member state as well as its geology and perspectives as an energy centre.

Wednesday, January 3, 2018

Cypriot Energy Minister meets Saudi Aramco - LAKKOTRYPIS TWITTER ACCOUNT

Saudi Aramco's President & CEO Amin H. Nasser (left) with Yiorgos Lakkotrypis, Cypriot Energy Minister (right)


Lakkotrypis' tweet (3/JAN/2018: Excellent meeting with @Saudi_Aramco President & CEO Amin H. Nasser. Very pleased to discuss #Saudi interest in #Cyprus #EEZ and our region.

Cabinet approves India-Israel MoU to boost oil and gas sector - OUTLOOK INDIA

03 JANUARY 2018 Last Updated at 4:14 PM

New Delhi [India] - The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the signing of a Memorandum of Understanding (MoU) between India and Israel on cooperation in the oil and gas sector.

The MoU is expected to provide an impetus to India - Israel ties in the energy sector.

The cooperation envisaged under the agreement will facilitate promotion of investments in the two countries, technology transfer, R&D, conducting joint studies, capacity building of human resources and collaboration in the area of startups.

Tuesday, January 2, 2018

Oil Ministry to issue oil and gas exploration tenders for Red Sea concessions soon - ENTERPRISE

Tuesday, 2 January 2018

The Oil Ministry is preparing to sign 12 new oil agreements with a combined investment value of at least USD 433 mn, Minister Tarek El Molla said yesterday, Al Masry Al Youm reports

The ministry is also gearing up to issue the first international tenders for oil and gas exploration along Egypt’s Red Sea border with Saudi Arabia. 

The tenders are contingent on geological scans in the area, which industry sources had previously said should be complete sometime in 1H2018.

Jordan allocates initial $2 million for joint pipeline project with Israel - MIDDLE EAST MONITOR

January 2, 2018 at 3:07 am

The gas will mostly be coming from the offshore Leviathan natural gas field, being developed off the coast of Haifa

Jordan has allocated 1.5 million dinars (around $2.1 million) in the 2018 national budget for a gas pipeline linking the Hashemite Kingdom with Israel. According to Al-Ghad newspaper on Sunday, the cost of the joint Jordanian-Israeli project is expected to rise to 3 million dinars ($4.2 million) in 2019, and to 6 million dinars ($8.5 million) by 2020. The pipeline will pass over the Sheikh Hussein border crossing, 90 km from Amman.

In September 2016, Jordan’s government-owned National Electric Power Company (NEPCO) and Noble Energy signed an agreement to import 40 per cent of the Kingdom’s electricity-generating needs from Israel. Noble Energy owns 39 per cent of the Leviathan natural gas field in Israeli territorial waters.

Monday, January 1, 2018

Y. Lakkotrypis: The next 12 months will be defining for natural gas - PHILELEFTHEROS

Lakkotrypis, Cypriot Energy Minister (left)
1 January 2018, 1:10 pm 
Andreas Pimbishis

Note: Please use Google translation tool (right click anywhere on the Greek text) for this interview in Greek of Cypriot Energy Minister Yiorgos Lakkotrypis by Cypriot daily 'The Liberal / Phileleftheros'.


Γ.Λακκοτρύπης: Καθοριστικοί οι επόμενοι 12 μήνες για ΦΑ - ΦΙΛΕΛΕΥΘΕΡΟΣ

Οι επόμενοι 12 μήνες και οι γεωτρήσεις που θα γίνουν μέχρι το τέλος του 2018 θα καθορίσουν το τοπίο σ’ ό,τι αφορά στις επιλογές που έχει η Κύπρος για εκμετάλλευση του φυσικού αερίου. Σύμφωνα με τον υπουργό Ενέργειας, Γιώργο Λακκοτρύπη, «σήμερα έχουμε επιβεβαιωμένες ποσότητες ΦΑ 4.5 TCF (μέσος όρος).

Με αυτές τις ποσότητες η βέλτιστη επιλογή για εκμετάλλευση του ΦΑ είναι να το κατευθύνουμε με υποθαλάσσιο αγωγό προς την Αίγυπτο, εκεί να υγροποιηθεί σε ένα από τα δύο τερματικά της χώρας και να διοχετευθεί στις αγορές, πρωτίστως της Ευρώπης, με πλοία». Ξεκαθάρισε πως το Τερματικό Υγροποίησης είναι στις κορυφαίες μας προτεραιότητες, όπως έχει επανειλημμένα λεχθεί.

Ο Γ. Λακκοτρύπης αποκαλύπτει πως έχουν μελετηθεί 16 σενάρια για τις επόμενες γεωτρήσεις τα οποία κυμαίνονται από το χειρότερο, που είναι να μην υπάρξει άλλη ανακάλυψη πέραν του «Αφροδίτη» μέχρι και το καλύτερο που είναι ανακάλυψη φυσικού αερίου και στις τέσσερις γεωτρήσεις.

Sunday, December 31, 2017

Israeli pipeline, once a link to Iran, will remain a mystery - REUTERS


DECEMBER 31, 2017 / 2:50 PMReporting by Ari Rabinovitch, editing by Larry King

JERUSALEM (Reuters) - An oil pipeline company established decades ago by Israel and Iran, and a new Israeli company that is meant to replace it, can continue to operate secretly, an Israeli parliamentary committee ruled on Sunday.

The Eilat-Ashkelon Pipeline Co (EAPC) was a joint venture set up in 1968, when the two nations were friendly, to transport Iranian oil via Israel to the Mediterranean. Ties were cut after Iran’s 1979 Islamic revolution, and the enemies are now locked in arbitration that could be worth billions of dollars.

Saturday, December 30, 2017

SCPX project: construction complete at majority of facilities in Georgia - TREND NEWS AGENCY


30 December 2017 10:04 (UTC+04:00)

Construction work has been completed at majority of facilities as part of the South Caucasus Pipeline Expansion (SCPX) project in Georgia, Trend learned from Georgia’s Ministry of Economy and Sustainable Development.

"SCPX compressor stations’ construction is progressing. The first compressor station (CSG1), as well as pressure reduction station at Georgian-Turkish border (Area 81), the 62-kilometer SCPX pipeline extension, including connection with TANAP at the Turkish border is completed," said the source in the ministry.

The construction of the second compressor station (CSG2) is 90 percent complete, added the source.

"The expansion of South Caucasus pipeline is one of the most important developments in terms of energy security of Georgia and larger region, said the source.

Friday, December 29, 2017

Turkey’s first drilling ship passes Gallipoli - ANADOLU AGENCY

Deepsea Metro II reaches Sea of Marmara on way to Black Sea

29.12.2017
Burak Akay, CANAKKALE, Turkey

Turkey’s first drilling ship, the Deepsea Metro II, passed the straits of Gallipoli on Friday, the Turkish Petroleum Company said.

The state-run firm said it was to be used for drilling in the Black Sea.

Thursday, December 28, 2017

Petrogress, Inc. (PGAS) is Strengthening Port Operations in Cyprus - NETWORK NEWS WIRE

December 28, 2017
  • MOU to undertake joint venture in Cyprus port operations
  • Set to enter upstream business by operating oil platform
  • Gaining eligibility to bid for Ghanaian government contracts
A recent announcement, which also appeared in the Greek media, shows that Petrogress, Inc. (OTC: PGAS) is doubling down in Cyprus. Through subsidiary Petrogress Int’l, LLC (“PIL”), the company has entered into a Memorandum of Understanding (MOU) with EDT Agency Services, Ltd., under which the two companies intend to combine operations at the Port of Limassol. The collaboration also extends to future developments at Vassiliko Energy Port, where the Cyprus Port Authority has announced plans for the construction of a $300 million industrial and energy harbor. 

The MOU calls for a 50/50 partnership between EDT and PIL, operating under PIL’s PG Cypyard & Offshore Terminal Services unit. The joint venture will provide support services to supply vessels and offshore exploration and production platforms and will help PGAS serve the E&P needs of major international oil companies in the Cyprus Exclusive Economic Zone (EEZ). The partnership is expected to not only boost PGAS’s revenues, but the company’s profile in Limassol and Vassiliko.

Turkey raises energy stakes as drillship sails through Aegean - KATHIMERINI

28.12.2017 : 21:24
VASSILIS NEDOS

The passage of a Turkish drillship through the Aegean on Thursday was seen as a loud message to Athens that Ankara plans to play a part in energy exploration in the Eastern Mediterranean and the wider region.

Although the Deep Sea Metro 2 and the Turkish corvette Bafra escorting it were traveling in international waters, their journey from an area southeast of the Peloponnese through the Aegean heading for Istanbul was viewed in Greece as a display of Ankara’s determination not to be left out of the region’s unfolding energy map, at a time when Athens has already begun initiatives to partially extend its sea zones.

Thursday’s route taken by the Deep Sea Metro 2 – charted by Turkey for exploratory offshore drilling in the Mediterranean Sea in 2018 – and the Bafra was known to Greece in advance, and for this reason both the Hellenic Armed Forces General Staff (GEETHA) and the navy were put on alert.

Government approves 4 oil, gas agreements worth $230M - EGYPT TODAY

Thu, Dec. 28, 2017

CAIRO – "The Egyptian government approved in its Thursday meeting four new oil and gas exploration agreements worth $230 million," Minister of Petroleum Tarek el-Molla announced.

Two of the four agreements are related to the Egyptian General Petroleum Corporation (EGPC) for exploration in the Red Sea and Western Desert areas, while the other two are related to South Valley Petroleum Holding Company (Ganope).

"The agreements include drilling 17 new wells," Molla added in a cabinet press conference.

EGPC chairman Abed Ezz el-Regal announced in September that EGPC will hold a new auction for oil and gas exploration before the end of 2017.

In August, Molla signed three new oil and gas exploration agreements in the Western Desert with a total value of $81.4 million in investments.

The agreements were signed between the EGPC, Royal Dutch Shell and Apex to drill 16 new wells using $23.2 million.

With new gas deals, Egypt closes in on energy hub goal - NASDAQ / REUTERS

December 28, 2017, 06:13:00 AM EDT
Patrick Werr

CAIRO, Dec 28 (Reuters) - Egypt is set to inaugurate a new wharf for natural gas and petroleum product tankers on the Gulf of Suez in the coming days, another step in its plan to become a regional energy hub.

The new 2.5 km wharf is being built by SUMED, which for decades has operated two pipelines from the Red Sea to the Mediterranean.

The country has been building fueling depots for ships along the Suez Canal and expanding its refining capacity. It has an extensive pipeline network and two idle gas liquefaction plants ready to export new gas as it arrives.

EBRD lends Egypt USD 200 mn to improve natural gas infrastructure - ENTERPRISE

Thursday, 28 December 2017

The European Bank for Reconstruction and Development (EBRD) is lending Egypt USD 200 mn to “finance the modernization of selected gas infrastructure facilities.” The EBRD loan “will be extended to the Egyptian Natural Gas Holding Company (EGAS) and its subsidiary Egyptian Natural Gas Company (GASCO) to fund the introduction of state-of-the-art technologies to recover waste heat from gas turbines used to drive gas compressors. The recovered heat will be used to produce additional energy, which will drive new electric compressors and replace fuels on-site. The introduction of new technology will lead to a reduction of over 250,000 tonnes of carbon-dioxide equivalent (CO2e) per year.” Oil Minister Tarek El Molla says “the EBRD will also provide technical assistance in addition to the USD 200 mn loan, which will contribute to the upgrading of gas metering systems throughout the Egyptian gas transmission network, a key step towards an efficient and cost conscious use of energy.”

Wednesday, December 27, 2017

DES.FA executive: LNG bunkering in Greece by 2020 - NAFTEMPORIKI

Wednesday, 27 December 2017 19:12
A. Tsimplakis

Supplying merchant vessels with LNG for their fuel needs - bunkering - is a pending priority for DES.FA, Greece’s natural gas transmission system operator.

According to the natgas utility’s director of corporate development, Iosif Florentin, who spoke recently at a roundtable discussion organized by the Hellenic Institute of Maritime Technology (ELINT), the first facility for supplying LNG as a fuel aboard vessels will be based at the current LNG terminal on the islet of Revythoussa, which lies just off the port of Piraeus and the adjacent industrial districts.

He said the facility can currently supply vessels that are larger than 20,000m3.

“By the end of 2018 an international tender will be declared for the construction of a new jetty II, which will exclusively serve vessels between 1,000 and 20,000m3, along with the addition of a smaller appendage and bollards to allow the supply of LNG to even smaller craft from the current jetty,” he said.

Drilling ship arrives off Cyprus for ENI - KATHIMERINI

27.12.2017 13:28

Drilling ship Saipem 12000 entered the Cypriot exclusive economic zone on Tuesday evening to start operating in the next few days for Italy’s ENI.

The vessel will anchor at the “Kalypso” field of the zone’s Block 6, to begin exploratory drilling for hydrocarbons in the next few days.

The drilling process is expected to last for about a month, followed by another drilling for ENI at the “Soupia” (i.e. Cuttlefish) field of Block 3.

ENI chief executive officer Claudio Descalzi stated last month that his company is very optimistic about the area’s natural gas prospects, which is why it has invested 150 million euros in it.

Tuesday, December 26, 2017

Libya's oil output revival thwarted by pipeline explosion - WORLD OIL / BLOOMBERG

DEC/26/2017
SALMA EL WARDANY

CAIRO (Bloomberg) -- Libya’s oil industry revival suffered a setback Tuesday after an explosion at a pipeline carrying crude to the OPEC nation’s biggest export terminal. Oil rallied as a result.

Production will drop by 70,000 to 100,000 bopd after the explosion, the state-run National Oil Corp. said in a statement. The pipeline, operated by Waha Oil Company, carries crude to the Es Sider terminal. The blast occurred 81 mi south of Sidra.

A New Era For Oil And Gas Majors - OIL PRICE

Dec 26, 2017, 6:00 PM CST
Irina Slav

Two and a half years ago, analysts asked when Italy’s Eni would be able to start producing gas from the giant Zohr field offshore Egypt. The overwhelming majority said this would happen no earlier than 2019, and most likely after 2021. But first gas from Zohr flowed earlier this month, in the latest sign that the future of the oil and gas industry will be very different from its past.

Big Oil has traditionally taken its time with new projects, especially offshore ones. They require a lot of exploration, a lot of planning, and a lot of equipment once the final investment decision has been made. But no longer: the 2014 crisis really changed the setting, forcing the mammoths of the industry to at least try to become more nimble and flexible.

Pipeline Puzzle: Who Will Consume Israel’s Natural Gas? - THE ALGEMEINER

DECEMBER 26, 2017 12:04 PM
Alex Traiman /JNS.org

By 2019, Israel’s large Leviathan natural gas field is expected to transform a once resource-poor developing economy into a major energy exporter. Yet for a politically-isolated Jewish state — in a region of oil-rich Arab nations that have often sought Israel’s destruction — finding viable consumers of Israeli natural gas is proving both difficult and expensive.