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Tag: Damietta

The East Mediterranean gas revolution (ABO.net)

Posted: October 20, 2016 at 1:40 pm   /   Oil & Gas

By Nicoló Sartori. The recent discoveries give the region an unprecedented opportunity to foster cooperation on energy and its exports, as well as to reach for diplomatic ways to handle the region’s conflicts. The gas discoveries in the East Mediterranean have generated an outburst of enthusiasm, fostering an image of the region as a global […]

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lng

Egypt eyes Idku LNG restart following Shell deal

Posted: October 9, 2016 at 7:46 pm   /   Oil & Gas

Egypt is slowly moving closer to restarting LNG exports following a deal with Shell to raise the volume of gas sent to the Idku LNG plant. Shell cut a deal with the Egyptian government in mid-September to send 3.54 million cubic metres per day to Idku from the company’s gas fields to compensate for some […]

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Egypt's oil and gas sector rallies

Posted: October 9, 2016 at 7:33 pm   /   Oil & Gas

In late August Shell announced that it had discovered 142bn cu metres of natural gas at its Alam El Shawish concession in Egypt’s Western Desert, with the possibility of more reserves to be recovered, representing one of the largest finds in the region in recent years. This follows another discovery by the Egyptian General Petroleum […]

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Egypt: The Eastern Mediterranean's Next Natural Gas Hub?

Posted: September 7, 2016 at 12:11 pm   /   Oil & Gas

On Aug. 31, Egypt and Cyprus signed a preliminary deal for an underwater pipeline. For Egypt, the deal is part of a broader strategy to position itself as a hub of energy development and consumption. • The eastern Mediterranean will attract great interest from international oil and natural gas companies over the next decade. • […]

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Bloomberg: Talks to end Israeli case against Egypt over natural gas

Posted: September 4, 2016 at 12:45 pm   /   Oil & Gas

Negotiations are ongoing between the two companies that operate the Israeli gas field Tamar along with the Spanish Union Fenosa Gas SA (UFG) to drop an Israeli arbitration court case against Egypt, US business agency Bloomberg revealed on Tuesday. Quoting an anonymous source, Bloomberg explained that the two companies that run Israel’s Tamar natural gas […]

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Eni

Eni in talks with big oil companies about sale of Zohr stake – sources

Posted: August 14, 2016 at 2:15 pm   /   Oil & Gas

Italy’s Eni is talking to oil companies including Lukoil, ExxonMobil, Total and BP about selling at least a 20 percent stake in its giant gas field in Egypt, industry sources said. Eni owns the whole of Zohr and has said it is interested in bringing in partners as part of its strategy of selling some […]

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El-Molla: Idku and Damietta liquefaction plants to operate at full capacity by 2020/2021

Posted: August 7, 2016 at 11:26 pm   /   Oil & Gas

Petroleum Ministry agreed with Shell to adjust the 9B gas prices and export 125m cubic feet daily. The Ministry of Petroleum and Mineral Resources aims to rerun Idku and Damietta factories for liquefaction in their full capacity in order to export gas shipments to global markets by 2020/2021. Petroleum Minister Tarek El-Molla told Daily News […]

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Interfax: All quiet on Egypt’s LNG export front until after 2020

Posted: July 17, 2016 at 8:17 pm   /   Oil & Gas

Industry sources from inside and outside Egypt are confident the country can resume exporting LNG by the end of the decade. However, they have warned that the number of cargoes shipped from Idku will not rise out of single digits per year before then. A source from Egypt’s Ministry of Energy, who wished to remain […]

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Will Israeli natural gas flow in Egypt’s pipelines?

Posted: July 15, 2016 at 4:31 pm   /   Oil & Gas

A recent visit by Egypt’s Foreign Minister could signal potential cooperation between Israel and Egypt in the eastern Mediterranean gas fields. However, given domestic market needs mixed with a complicated history in Egypt-Israel business relations in the energy sector, the future remains unclear. In a rare trip, Egypt’s Foreign Minister Sameh Shoukry paid Israel a […]

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ICC tribunal assignment spells success for Egyptian EGAS

Posted: June 18, 2016 at 5:08 pm   /   Oil & Gas

An ICC tribunal has rejected claims for contractual penalties worth more than US$270 million plus interest against Egypt’s state-owned natural gas supplier EGAS, finding that the claimant had assigned all its rights under a gas supply contract to a third party. Counsel to EGAS, Shearman & Sterling, reports that a tribunal composed of David St […]

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