CYPRUS - THE SUSTAINABLE EMEA ENERGY HUB IN THE EASTERN MEDITERRANEAN

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East Mediterranean Breaking News:

The Global Oil & Gas Outlook 2020
Walking the tightrope—vigilance required to keep moving forward in 2020 As we, once again, move from one year to the next, how do we assess the oil and gas and chemical sectors’ performance in 2019 and its prospects for 2020? As always, there are headwinds and tailwinds, risks and opportunities, uncertainties and foreseeable trends, but in this report we aim to take stock of the main factors to watch for in 2020 across the diverse oil, gas, and chemical industry. Over the past decade, we have seen the heights of bullish optimism and seemingly limitless investment during the years of the $100 per barrel world, from 2011 to mid-2014, and the lows of the price crash and extended oil downturn, from mid-2014 to 2017. Neither extreme seems in the cards for an imminent return as the industry has learned valuable lessons from both episodes, but uncertainties are clearly still a challenge to performance and investment. As we evaluate the most prominent trends and issues for the oil and gas and chemical sectors in this outlook, executives in these businesses seem keenly aware of wider macroeconomic and business environmental risks, which seem to be gaining strength. Among these are: Weakening economic growth, not only in the United States but also in Europe and China; Ongoing, perhaps intensifying, trade tensions, which can create uncertainty, dampen growth, and lead to modifications in long-established supply chains; and The many political risks, of course, including the US election cycle, the outcome of the Brexit process in Europe, and tensions in the Middle East between multiple states and non-state actors with different objectives. And, while walking the tightrope across these shifting sands in 2020, fundamental changes in the long-term business environment could become more salient. So, attention to the coming disruptive forces associated with this century’s energy transition and sustainability imperatives is increasingly crucial alongside day-to-day positioning. COURTESY OF DELOITTE – for the full report please click here.
Israeli gas flows into Egypt
A statement from Noble Energy, which works on the offshore Leviathan field, noted that sales to Jordan had begun on January 1. First sales from the field were reported on December 31. Gas is exported to Egypt via the East Mediterranean Gas (EMG) pipeline, in which Noble has a stake. “I’ve been very pleased with the startup and early performance which has provided confidence in meeting our 2020 sales outlook,” said Noble’s senior vice president for the offshore J Keith Elliott. “Leviathan natural gas provides redundancy in supply domestically and enables Israel to further transition from coal, improving air quality for Israel’s citizens. Additionally, the asset supports regional economic co-operation and development through its exports to both regional and global customers.” Interconnections between the Israeli, Jordanian and Egyptian gas networks are now “fully operational”, Noble said. Exports from Leviathan go to Egypt’s Dolphinus Holdings. For the original article please click here.
The EMC Blog is Looking for Contributors!
As we near the event in April – the backdrop of the region’s oil and gas industry is becoming ever more complex. As such if you would like to submit a commercial, technical or other related blog pieces please do get in touch!

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EMC is part of the OMC – MOC group of events which covers the Mediterannean Energy Sector.

EMC is set to become the 3rd meeting in the mediterranean area strategically located in Cyprus which has recently emerged as one of the most interesting areas in the world energy circuit.

EMC 2020 is the essential platform for domestic and international stakeholders that invest, meet , network, share ideas and create new partnerships.

INVITATION LETTER BY CHC – CYPRUS HYDROCARBONS COMPANY

Professor Toula Onoufriou, President of CHC, Professor at the Cyprus University of Technology, and Chairman of the EMC Organizing Committee welcomes the oil&gas community at EMC 2020.

Dear Industry Colleagues,

It gives me great pleasure to welcome the energy industry players and stakeholders to Cyprus for the inaugural edition of the EMC – EASTERN MEDITERRANEAN OFFSHORE CONFERENCE & EXHIBITION.

The Mediterranean basin has proved to be a world-class energy source with huge hydrocarbon potential. Cyprus, on this focus, has become one of the most attractive energy destinations in the Mediterranean, with significant business opportunities, in a unique investment climate and a booming economy. Cyprus enjoys a golden era of prosperity from the hydrocarbon industry and the gas discoveries.

THE NEW MEDITERRANEAN ALLIANCE

The Eastern Mediterranean Gas Forum was the meeting place for the energy ministries coming from Cyprus, Egypt, Greece, Israel, Italy, Jordan, and Palestine held in Cairo to shape new alliances given the major gas discoveries in the East Mediterranean area making Cyprus the key meeting place to host a world class Exhibition and Conference.

THE KEY GLOBAL & REGIONAL ENERGY STAKEHOLDERS OPERATING IN THE EASTERN MEDITERRANEAN REGION:

ExxonMobil in block 10 raise Cyprus as one of the world-class energy countries to invest.

“These are encouraging results in a frontier exploration area. The potential for this newly discovered resource to serve as an energy source for regional and global markets will be evaluated further.”

Steve Greenlee,

President of ExxonMobil Exploration Company

ONGOING PROJECTS IN CYPRUS OVER THE NEXT 2 YEARS

The Ministry of Energy, Commerce and Industry of Cyprus will give more concession to energy companies to start drilling in eight separate sites over the next two years searching for natural gas in waters off the east Mediterranean island’s southern coast.

The Mediterranean basin is proved to be a world-class energy source with huge hydrocarbon potential. The recent energy discoveries in Cyprus, Such as: the Calypso discovery in block 6, the Aphrodite discovery in block 12 and the new recent discovery by ExxonMobil in block 10 raise Cyprus as one of the world-class energy countries to invest.

Under the Auspices of

Ministry of Energy, Commerce and Industry of Cyprus

National Host

CYPRUS HYDROCARBONS COMPANY

With the Support of

SHIPPING DEPUTY MINISTRY OF CYPRUS

CYPRUS EMPLOYERS AND INDUSTRIAL FEDERATION

In association with

CUT – CYPRUS UNIVERSITY OF TECHNOLOGY

CYPRUS-GREECE BUSINESS ASSOCIATION

EAST MED ENERGY RESEARCH CENTRE OF EXCELLENCE FOR GROWTH AND EDUCATION (EMERGE)

MEDITERRANEAN OFFSHORE
CONFERENCE & EXHIBITION
ALEXANDRIA, EGYPT