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Tag: East Mediterranean

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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EGAS to issue natural gas exploration tender in 11 blocks before June

Posted: February 6, 2018 at 6:39 pm   /   Oil & Gas

The Egyptian Natural Gas Holding Company (EGAS) is planning on issuing natural gas exploration tenders in 11 offshore and onshore blocks before June, an unnamed EGAS source tells Al Shorouk. EGAS Chairman Osama El Bakly had previously announced the company’s plans to have a bid round for oil and gas exploration in East Mediterranean and […]

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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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Noble Energy considers participation in pipeline linking Cyprus gas to Egypt

Posted: December 10, 2017 at 7:10 pm   /   Oil & Gas

Noble Energy is trying to make a play for the potential gas pipeline linking Cyprus’ offshore gas fields to Egypt’s processing facilities, Al Masry Al Youm reports. The group’s senior Vice President of the Eastern Mediterranean area Keith Elliott met with Oil Minister Tarek El Molla to discuss this and other potential energy projects on […]

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El Molla discusses East Med – Europe gas pipelines with EU Energy Commissioner

Posted: December 6, 2017 at 12:39 pm   /   Oil & Gas

Oil Minister Tarek El Molla discussed increasing energy cooperation with EU Energy Commissioner Miguel Arias Cañete in Brussels yesterday, Al Masry Al Youm reports. Talks included the potential extension of natural gas pipelines between Egypt and Europe, which would see gas sent to liquefaction plants in Egypt before it’s re-exported. Cañete said he would lead […]

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Glimmer of hope for Cyprus to export its natural gas to Egypt

Posted: December 5, 2017 at 7:00 pm   /   Oil & Gas

Cyprus’ gas discovery in Block 12 has remained stranded since 2012 with no outcome in sight. The Aphrodite natural gas field off Cyprus is commercially viable and the field could produce 300 billion cubic feet (BCF) a year, which could be transported to Egypt by pipeline, the partners behind the project said. Texas-based Noble Energy, […]

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