EBRD to provide $500M for TANAP -DAILY SABAH - ANADOLU AGENCY

ANKARA, August 4, 2017

On Oct. 18, the board of the European Bank for Reconstruction and Development (EBRD) should approve a $500 million financing package for Azerbaijan's Southern Gas Corridor Inc. to be used for the Trans-Anatolian Natural Gas Pipeline (TANAP) project, the largest part of the Southern Gas Corridor.

An EBRD statement pointed out that the World Bank approved $800 million in financing and the Asian Development Bank approved $600 million in financing for TANAP, which will cost $8.6 billion.

Also, the statement indicates the European Investment Bank is considering providing financing for TANAP, emphasizing that the project is important for Turkey and Europe in terms of energy security and resource diversity.

First petrol station to sell LPG opens in Nicosia - CYPRUS MAIL

August 4, 2017

Annette Chrysostomou

The first petrol station in Cyprus selling liquefied petroleum gas (LPG) for gas-fuelled vehicles has opened in Nicosia after securing all the necessary licences.

The petrol station which is owned by oil and gas company Petrolina and carries the Agip brand is located on Larnaca Avenue in Nicosia. According to a statement by Petrolina, it meets all the safety and environmental standards of the EU, complies with Cyprus legislation and the regulations set out by the energy ministry.

“Business moves of this kind offer the consumer alternatives to energy use and contribute to a better quality of life,” Energy Minister Giorgos Lakkotrypis commented.


Dinos Lefkaritis, director of Petrolina said the move is part of the company’s strategy to offer innovative products, adding “the company’s objective is to operate other petrol stations with LPG in the near future.”

Rosneft delivers 129,000 tonnes of LNG to Egypt - TASS / REUTERS

August 04, 17:09 UTC+3

MOSCOW, August 4. /TASS/. Rosneft delivered 129,000 tonnes of liquefied natural gas (LNG) to Egypt under the contract with Egyptian Natural Gas Holding (EGAS) in the first half of 2017, the company said.

IT was reported earlier that Rosneft would supply 10 consignments of liquefied natural gas to Egypt with a total volume of 600,000 tonnes; deliveries would be carried out from May to October 2017. In 2016, Rosneft Trading SA delivered three tankers to the processing facilities of EGAS.

Egypt’s General Petroleum production rates 'unprecedented': Ministry - AHRAM ONLINE

Friday 4 Aug 2017

Egypt’s state-owned General Petroleum Company has reached unprecedented production rates of 57,000 barrels of oil equivalent per day, the petroleum ministry said in a Friday statement.

The increased production rates follow the discoveries of two new fields, NES-5 and NES-7, the statement added.

New seismic surveys planned for launch in December - ENERGY PRESS

04/08/2017

EDEY, the Greek Hydrocarbon Management Company (Hellenic Hydrocarbons Resources Management), plans to stage new seismic surveys later this year at an area covering 46,000 square meters south of Crete. This offshore area had been scanned in 2013 by PGS from north to south but will now be looked at from east to west.

The hydrocarbon company is also moving to conduct more detailed surveys in areas west of Crete and south of the Peloponnese covering 11,000 square meters, while PGS will apply new techniques to soon reprocess older data gathered from the Ionian Sea in an area covering 26,000 square meters.

The news concerning these three initiatives, highlighting EDEY’s intention to intensify local hydrocarbon sector efforts, is expected to be announced today in specialized international industry media to promote the prospect of new sesismic data sale purchases by international oil companies.

Hydrocarbon licensing changes avoided ahead of Crete tender - ENERGY PRESS

04/08/2017

The government has softened its stance on an intention to implement hydrocarbon sector revisions that could offer investors production sharing agreements rather than leasing agreements for new tenders.

Governmemt officials fear that such changes to the licensing system would undermine the prospects of future tenders, including an imminent effort aiming to offer investors blocks off Crete. This upcoing effort has drawn the attention of international oil industry giants such as ExxonMobil and Total.

KYSOIP, the Government Council for Economic Policy, which yesterday endorsed a hydrocarbon sector modernization plan forwarded by energy minister Giorgos Stathakis, decided to keep the current licensing model unchanged – at least for the time being.

Noble Energy results beat, but output forecast drags on stock - REUTERS

AUGUST 3, 2017 / 5:09 PM

Reporting by Ernest Scheyder; Editing by Lisa Von Ahn

(Reuters) - U.S. oil producer Noble Energy Inc on Thursday posted a surprise quarterly profit, excluding special items, on a rise in crude prices and cost cuts, but a tepid production forecast sent its shares down nearly 5 percent.

While Noble did not cut its capital budget as some peers have done in recent weeks, Wall Street has generally rewarded companies that pump more oil, not leave it in the ground.

Houston-based Noble forecast third-quarter production at 340,000 to 350,000 barrels of oil equivalent per day, about 8 percent below Wall Street's expectations.

Shares of Noble were down 4.7 percent at $26.72 in morning trading.

Russian gas pipelines to go ahead despite U.S. sanctions - REUTERS

AUGUST 3, 2017 / 1:11 PM
Oksana Kobzeva, Alissa de Carbonnel

MOSCOW/BRUSSELS (Reuters) - New U.S. sanctions will make it harder for Russia to build two gas export pipelines to Europe but the projects are unlikely to be stopped.

U.S. President Donald Trump has reluctantly signed into law further sanctions on Russia but some of the measures are discretionary and most White House watchers believe he will not take action against Russia's energy infrastructure.

This would allow Gazprom's two big pipeline projects to go ahead, although at a higher price and with some delays.

The Kremlin, dependent on oil and gas revenues, sees the pipelines to Germany and Turkey - Nord Stream 2 and TurkStream - as crucial to increasing its market share in Europe.

It also fears that Western partners - needed to develop the deepwater, shale and Arctic gas deposits that will fill the pipelines - will be scared off by sanctions.

Senate approves $4M. budget for US-Israel energy center - JERUSALEM POST

AUGUST 2, 2017 21:04
SHARON UDASIN

The center is meant to contribute to natural gas deployment in Israel, expand water and energy production in both countries and improve cybersecurity systems for critical infrastructure.
Fulfilling a vision that has been three years in the making, the Senate Appropriations Committee committed $4 million on Tuesday toward establishing a Joint United States-Israel Energy Center.

The funds, which will match an equal amount provided by Israel, will serve to build a virtual hub for energy collaboration supervised by the US Department of Energy and Israel’s National Infrastructure, Energy and Water Ministry.

DESFA bids of 400 mln or over, minister says - KATHIMERINI

02.08.2017 : 22:42
CHRYSSA LIAGGOU

Energy Minister Giorgos Stathakis has given candidate buyers of gas grid operator DESFA a 400-million-euro bar to clear ahead of next Monday’s submission of non-binding bids.

The minister on Wednesday visited DESFA’s headquarters to learn about the company’s financial state and told employees there were three conditions that would secure the smooth development of the current process for the concession of a 66 percent stake to a strategic investor.

Dorad to buy Karish, Tanin gas for $500m - GLOBES

2 Aug, 2017 17:23
Amiram Barkat

Tanin, Karish owner Energean now has more than half the contracts needed to development the Israeli gas fields.

The board of directors of the Dorad power station, headed by chairman Erez Halfon, today approved the signing of a document of principles for the purchase of natural gas from the Karish and Tanin reservoirs, owned by Energean. 5.5 BCM of natural gas will be supplied over 14 years under the deal.

Market sources estimated the total value of the deal at over $500 million. The terms of the deal reflect an average price of $4 per heating unit, the lowest price in such deals in recent years. Supply in the deal is slated to begin in the fourth quarter of 2020, when gas from Karish and Tanin is expected to begin flowing.

Croatia's Crosco gets deal to drill 12 gas wells in Egypt, Iraq - SEE NEWS

ZAGREB (Croatia), August 2 2017 (SeeNews)

Ukrainia's UkrGasVydobuvannya (UGV) has said it signed a 47 million euro ($55.6 million) contract with Croatia's Crosco for the drilling of 12 natural gas wells in Egypt and Iraq.

UGV has signed two contracts with Crosco, each for the drilling of six wells at EMSCO-605 land rig in Egypt and R-67 land rig in Iraq, the Ukrainian company said in a statement on Tuesday.

The start of drilling works is scheduled for the third quarter of 2017, with Crosco planning to drill four wells annually, UGV noted.

Zagreb-based Crosco is an integrated onshore and offshore drilling and well services contractor. It is part of Croatian oil and gas company INA.

Egypt: FSRU BW Singapore hits LNG STS milestone - LNG WORLD NEWS

August 2, 2017

Gas shipping giant BW said its FSRU BW Singapore that is currently operating in Egypt has reached a ship-to-ship transfer milestone.

BW LNG’s first floating storage and regasification unit (FSRU) has completed its 100th STS transfer on 22 July 2017, the company said in a brief statement through its social media channels.

BW Singapore was earlier this year relocated to the port in Sumed from the port of Ain Sokhna.

The FSRU started serving as Egypt’s second LNG import terminal in October 2015 under a five-year contract with the Egyptian Natural Gas Holding Company (EGAS).

Egypt Rushes Maritime Negotiations, Making Way For Offshore Discoveries - HART ENERGY

Wednesday, August 2, 2017 - 1:36pm
Abdelghani Henni

Egypt is speeding up negotiations with neighboring countries to finalize the demarcation of borders in the Mediterranean, which holds huge natural gas reserves compared to the Red Sea.

The country has initiated talks with Greece to draw the maritime border, according to local sources. Egypt and Cyprus are also expected to sign the official border agreement in the next few weeks. In addition, the country plans to intensify seismic activities in the Red Sea following the agreement with Saudi Arabia.

In early June, Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla said the Ganoub El Wadi Petroleum Holding Co. agreed with five international oil companies six months ago to conduct a $750 million seismic survey in the Red Sea to prepare reports on the reserves of oil and gas in the territorial waters after the demarcation of the border with Saudi Arabia.

Jordan exported 560k cubic feet of LNG to Egypt in the past four months - ENTERPRISE

Wednesday, 2 August 2017

Egypt bought 560K cubic feet of LNG from Jordan in the past four months as part of an agreement which would see Egypt import 140K cubic feet of gas per month for 10 months, according to Ahram Gate. 

Jordan exported about 670 mcf of LNG last year to Egypt, says the Oil Ministry.

Israeli Government Failing to Encourage Natural Gas Use in Transport Sector - HAARETZ

Aug 02, 2017 5:52 AMOren Dori 
Despite huge domestic reserves, precious few experimental cars run on natural gas in Israel, new study finds
Seven years after Israel’s government declared it would use the country’s vast natural gas energy reserves to power cars and trucks, virtually nothing has been done, according to a study released this week by the Samuel Neaman Institute for National Policy.

As of today, just two or three cars on an experimental basis are fueled by natural gas even though Tamar, the largest field at present, boasts an estimated 318 billion cubic meters of gas and the much bigger Leviathan reservoir, with 613 BCM, is due to begin production in 2019.

Meanwhile, globally, over the last seven years, the number of natgas-powered cars on the roads doubled to 23 million vehicles, most of them in Asia and a $23 billion market, the researchers point out. By 2024, that number should reach about 30 million.

Egyptian Prime Minister Sheriff Ismail meets Eni CEO Claudio Descalzi - ENI

Cairo (Egypt), 01 August 2017,17:10

The Egyptian Prime Minister Sherif Ismail met today with Eni's CEO Claudio Descalzi.

The meeting, also attended by the Minister of Petroleum and Mineral Resources Eng. Tarek El Molla, focused primarily on the future of Zohr's mega field and the positive impact it will have on the national energy economy. Eni CEO Claudio Descalzi outlined the progress being made with the rapid development of the project: thanks to the significant operational synergies that Eni has been able to exploit with its facilities in the area, the development of Zohr is 80% complete less than two years after the discovery was made, a record in the oil industry.

With a potential of 850 billion cubic meters of gas in place, not only will Zohr be able to satisfy almost all of the total domestic gas demand for the coming decades, .it will also allow Egypt to return to being a net energy exporter.

Israel's role in Turkey's gas hub - PETROLEUM ECONOMIST

London/Tel Aviv, 1 August 2017
Gina Cohen, Aura Sabadus

Turkey needs more gas and wants to diversify the sources. LNG and a pipeline from Israel are the answer

A recurring theme in Turkish political discourse has been an ambition to establish an energy hub to capitalise on the country's strategic location linking resource-rich countries to its east with European markets to its west. Israeli gas and new flexible supplies of liquefied natural gas can help Turkey deliver on the aim.

So far, Turkey's strategy has lacked clarity and the objective has been open to multiple interpretations, each reflecting the country's tortuous relations with its neighbours and the poor level of market liberalisation and regulatory reform that would be needed to create a viable gas hub.

ENI drilling could lead to positive development for Europe - IN CYPRUS / CYPRUS WEEKLY

August 1, 2017

Italy’s energy giant ENI is currently carrying out drilling offshore Cyprus and this could lead to a positive development for the whole of Europe.

This is what Italian Minister of Defence Roberta Pinotti said in Nicosia on Monday evening after talks with her Cypriot counterpart Christoforos Fokaides.

“Italy’s ENI is working right now (here in Cyprus) and I believe that we will have a positive development for the whole of Europe,” Pinotti said.

“We have to work for security and to confront difficulties and obstacles. We have to work for the future welfare of Europe within the framework of a flourishing economy,” she added.

EGAS grants three companies preliminary approval to import gas - ENTERPRISE / AL BORSA

Tuesday, 1 August 2017

EGAS has granted three unnamed companies preliminary approvals on their requests to import natural gas privately and pump it through the national pipeline network, said EGAS Vice Chairman Amira El Mazni, according to Al Borsa.

Five companies had bid to import natural gas privately, including Dolphinus Holdings — rumored to have been in talks to import gas from Israel’s Tamar gas field — and TAQA Arabia.

Licenses to import gas will come once the Ismail cabinet approves the executive regulations of the Natural Gas Act.

The regs are expected to be completed by September.

Saipem EPCI contract variations finalised for Zohr field development - WORLD PIPELINES

Monday, 31 July 2017 09:40
Stephanie Roker

Saipem and Petrobel have finalised offshore contract variations worth US$900 million for engineering, procurement, construction and installation (EPCI) activities in relation to the ‘Optimised Ramp Up’ phase of the ‘supergiant’ Zohr field development project situated in the Mediterranean Sea off the Egyptian coast.

Petrobel is a joint venture between IEOC (an Eni subsidiary in Egypt) and Egyptian General Petroleum Corporation (EGPC) and is in charge of the development of Zohr on behalf of PetroShorouk, a joint venture between Egyptian Natural Gas Holding Company (EGAS) and IEOC.

The current variations to the scope of work include the installation of a 30 in. dia. gas export pipeline and an 8 in. dia. service pipeline, as well as EPCI work for the field development in deep water (up to 1700 m) of four wells and the installation of umbilicals. Works will commence in July 2017 and are due to be completed by the end of 2018.

In order to meet the requirements set by the client, Saipem will deploy several vessels from its highly specialised fleet, including the Castorone (the latest generation ultra-deepwater pipelayer); the subsea field development ship Saipem FDS2; the Saipem 3000 (a subsea construction vessel) and, finally, the Castoro 6 and the trenching barge Castoro 10.

Italy joins France in warning Ankara about Cyprus gas drilling - EURACTIV.com

Jul 31, 2017

Sarantis Michalopoulos

Italian Minister of Defence Roberta Pinotti is paying a “symbolic” visit today (31 July) to Cyprus in light of oil and gas drilling that a consortium of France’s Total and Italy’s Eni is now carrying out in the region.

Cyprus started offshore drilling for gas in its economic zone triggering the strong reaction of Turkey, which warned it would take counter-measures.

Turkey claims that Cyprus’s internationally recognised government has no jurisdiction to explore for hydrocarbons [See background].

As Cyprus prepares to start offshore drilling for gas in its economic zone, Turkey announced it was readying “countermeasures” and Greece replied it was “ready to defend its sovereign rights”, in a clear sign of growing tensions between the two NATO members.

Italian defence minister in Cyprus visit - IN CYPRUS / CYPRUS WEEKLY

July 31, 2017

Italian Defence Minister Roberta Pinotti will visit Cyprus on Monday where she will hold talks with her Cypriot counterpart Christoforos Fokaides.

During the meeting of the two ministers, they will sign an agreement on Exchange and Mutual Protection of Information. Pinotti will also meet with Cyprus President Nicos Anastasiades.

According to a press release by the PIO, Pinotti will be officially welcomed by Fokaides at the National Guard General Staff premises in Nicosia, where the meeting will take place.

Egypt has so far received half of contracted Iraqi crude shipments –source - ENTERPRISE / AL MAL

Sunday, 30 July 2017

Egypt has so far received half of its contracted 12 mn bbl of Iraqi crude oil scheduled for delivery in 2017, a source tells Al Mal. 

The latest shipment is the third since May. 

Refiner MIDOR received 50% of the total oil delivered, while AMOC got 14%. 

A portion of the refined product is re-exported back to Iraq.