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Tag: Cyprus

Eni CEO: Drilling offshore Cyprus could be put on hold

Posted: February 24, 2018 at 3:35 pm   /   Oil & Gas

The head of Italian energy firm Eni said Thursday that planned drilling in search of gas off Cyprus could be put on hold until Turkey can be convinced to pull back its warships preventing a rig from reaching the site. Eni CEO Claudio Descalzi made the remarks after Turkey’s energy minister earlier insisted that his […]

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Bloomberg: Cyprus, Egypt nearing gas agreement

Posted: February 23, 2018 at 3:52 pm   /   Oil & Gas

Cyprus to sell Aphrodite gas to Egyptian LNG plants: minister. Noble Energy, Delek on Monday offered gas from Israeli fields. Cyprus is nearing an agreement to sell natural gas to Egypt, marking the second potential supply deal in as many days with the North African country vying to position itself as a regional energy hub […]

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Eni confirms Calypso-1 gas discovery in Block 6 offshore Cyprus

Posted: February 9, 2018 at 9:08 pm   /   Oil & Gas

Eni announces a gas discovery Offshore Cyprus: Eni has made a lean gas discovery in Block 6 Offshore Cyprus with Calypso 1 NFW. The well, which was drilled in 2,074 meters of water depth reaching a final total depth of 3,827 meters, encountered an extended gas column in rocks of Miocene and Cretaceous age. The […]

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Egypt rejects Turkey’s stance on Cyprus demarcation agreement

Posted: February 9, 2018 at 8:37 pm   /   Oil & Gas

Egypt warns Turkey over Eastern Mediterranean economic interests. Egypt on Wednesday warned Turkey against any infringement of its economic rights in the eastern Mediterranean under a maritime border demarcation agreement signed in 2013 with Cyprus that allows exploration for gas in the area. The discovery of the massive Zohr gas field in 2015 has spurred […]

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Eni, Total reportedly make large natural gas discovery offshore Cyprus

Posted: February 6, 2018 at 7:07 pm   /   Oil & Gas

Eni and Total have reportedly made what is believed to be a large gas discovery at their Calypso prospect in the Block 6, offshore Cyprus. News reports have cited Cypriot Minister of Energy, Commerce, Industry and Tourism Yiorgos Lakkotrypis on Friday said that there were ‘encouraging signs’ at the project, however he refused to give […]

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Eni: Egypt likely to become Europe’s gas shipping hub

Posted: February 5, 2018 at 6:14 pm   /   Oil & Gas

Egypt may become a natural gas shipping hub by annually shipping up to 20 billion cubic metres of gas to Europe over the coming few years, Reuters reported, citing CEO of Italy’s Eni Claudio Descalzi. Gas projects in east Mediterranean countries such as Egypt, Cyprus, and Israel will remarkably help Europe to diversify its gas […]

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Eni: East Mediterranean is key to diversifying Europe's gas imports

Posted: January 31, 2018 at 4:18 pm   /   Oil & Gas

Gas projects in east Mediterranean countries such as Egypt, Cyprus and Israel will be key to help Europe diversify its gas imports as output in the North Sea is dropping and Russian supplies are rising, the head of Italy’s Eni said on Monday. Claudio Descalzi said Egypt could play the most crucial role in gas […]

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Charles Elinas: Egypt has the advantage in exporting natural gas to Europe

Posted: January 29, 2018 at 3:27 pm   /   Oil & Gas

Price, not politics, stymying East Med gas. By Charles Ellinas. The greatest problem making exports of East Med gas, especially from Cyprus and Israel, challenging and difficult, is not political risk, but commercial due to the low global gas prices. You experience political risk when you reach the point of selling. If the prospect of […]

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FT: Egypt is most viable route for Europe to exploit East Med gas

Posted: January 13, 2018 at 6:48 pm   /   Oil & Gas

The opportunity that Levantine gas provides: Egypt is the most viable route politically to exploiting this resource. Gas pipelines often turn out more pipe dream than reality. Or, in the case of those that cross borders, they can involve projects that take so long to negotiate that by their completion the rationale for them has changed. […]

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FT: Geopolitics cloud prospects for East Mediterranean gas finds

Posted: January 9, 2018 at 3:29 pm   /   Oil & Gas

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 […]

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