East Mediterranean Breaking News:

Future of Gas in Europe and what it means for Cyprus
This was the subject of presentations by European Commission (EC) senior officials at a number of recent gas conferences. Not surprisingly the key messages for the future of gas in Europe were quite similar: The new EC is driving new green policies Natural gas has a future role in Europe but it must be decarbonised Smart integration of electricity and gas is essential to enhance energy efficiency Electricity will become the predominant from of energy by 2050, with use of gas declining between 2030-2050. The new European Green Deal will set the tone and direction. Ursula von der Layen, the new EC President, has committed to deliver this 100 days after taking office, giving the climate change debate a new direction. Its main aims are: Europe to become the first climate-neutral continent, enshrine the 2050 climate-neutrality target into law and increase the carbon reduction target for 2030 to at least 50 per cent. For the original Cyprus Mail article please click here.
Egypt Signs $430-Million Gas Deal with Texas’ Noble Energy
Egypt said on Saturday it had signed several multimillion-dollar energy investment accords including a $430-million deal for Texas-based Noble Energy to pump natural gas through the East Mediterranean Gas Company’s pipeline. Under another agreement with Noble, which will also be financed by the US International Development Finance Corporation, the energy company will manufacture petroleum products in partnership with Egyptian company Dolphinus Holdings. The cabinet detailed the plans at the end of an Africa investment forum held on the site of the country’s planned new administrative capital in the desert east of Cairo. To continue reading the article please click here.
Libya’s NOC Sets Sights on 1.5 mil b/d Oil Output Target in 2020
Libya’s main oil chief has set his sights on boosting oil production to 1.50 million b/d in 2020 from current levels of 1.25 million b/d, as the country’s oil production and exports have been largely unaffected this year despite the civil unrest engulfing the North African country. Mustafa Sanalla, the head of state-owned National Oil Corporation, said late-Wednesday the rise assumes 350,000b/d of new output coming online next year, but that this will be slightly offset by a natural decline rate of 7%-8%. Output has remained much below 1.6 million b/d since 2011 when the country descended into civil war that led tothe downfall of the Muamar Gadhafi regime. The last time the country produced 1.50 million b/d was October 2012, according to S&P Global Platts data. For more information and to continue reading please click here.

CALL FOR PAPERS NOW CLOSED

To submit a papers or ask information please contact us at conference@emc-cyprus.com

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.