Monthly Archives November 2020

Greece, Egypt want Biden to play ‘decisive role’ in Turkey maritime dispute

Greek Prime Minister Kyriakos Mitsotakis says he expects US President-elect Joe Biden’s incoming administration to play a “more decisive role” in calming tensions with Turkey in the eastern Mediterranean. “We have every reason to welcome, along with all our partners in the region, the return of the United States to its central role as a leader of Nato,” he said on Wednesday after a meeting in Athens with Egyptian President Abdel Fattah el-Sisi. “I believe that Greece and Egypt will welcome and have a positive attitude toward the determination of America’s contribution to the events of the Middle East and eastern Mediterranean
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Categories: News.

Erdogan calls for ‘two-state solution’ to Cyprus division

Turkish president visited breakaway Northern Cyprus to give backing to newly-elected leader Ersin Tatar Turkey’s President Recep Tayyip Erdogan visited breakaway Northern Cyprus Sunday, saying that he favored a permanent division of the disputed island into two states. Erdogan made the trip to lend his support to newly elected Turkish Republic of Northern Cyprus (TRNC) President Ersin Tatar – who was also previously prime minister. He won a tight vote last month “that could further strain ties with the internationally-recognised Cypriot government to the south,” Reuters reported. To continue reading click here
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Cyprus, preparing for LNG, still depends heavily on oil imports

Cyprus’ oil import dependency is high. According to the 2021-2030 National Energy & Climate Plan (NECP), Cyprus total primary energy consumption in 2018 amounted to about 48,400 boe/day (barrel of oil equivalent is a unit of energy based on the approximate energy released by burning one barrel of crude oil). Imported oil products provided most of it, about 43,400 boe/day. About 40 per cent of this energy was consumed by the EAC in power generation, with the rest used in transport, industry, heating/cooling (H&C), agriculture and services. Based on current plans, and with the new liquefied natural gas (LNG) terminal
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Rival Cypriot leaders pledge to back UN-led peace initiative

Rival Cypriot leaders held a rare meeting on Tuesday in which they pledged to support a United Nations-led Cyprus peace push involving Greece, Turkey and Britain, officials said. It was the first meeting between Republic of Cyprus President Nicos Anastasiades and Turkish Cypriot leader Ersin Tatar since the Ankara-backed hardliner was elected in the breakaway north of divided Cyprus last month. The pair “expressed their determination to positively respond to the UN secretary-general’s commitment to explore the possibility to convene an informal five-plus-United Nations meeting, in a conducive climate, at an appropriate stage,” a carefully worded UN statement said. To
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Huge volumes of discovered hydrocarbons remain ‘stranded’ in South Atlantic fields of Brazil, Angola and Falklands

Huge volumes of discovered hydrocarbons worldwide are currently ‘stranded,’ according to a study by Westwood Global Energy Group. The consultant has identified 119 fields in this category that were found between 2008 and 2016 with collectively 11 Bbbl of oil and 36 Bboe of gas, but currently not progressing toward development, including Brazil, Angola, and the Falkland Islands in the south Atlantic. These volumes, which cost an estimated US$ 24 billion to discover and with a combined value of US$ 65 billion [1], account for 40% of the reserves proven in high-impact discoveries in this period. Westwood’s analysis shows the
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Study finds no progress on many large oil and gas discoveries

Huge volumes of discovered hydrocarbons worldwide are currently ‘stranded,’ according to a study by Westwood Global Energy Group. The consultant has identified 119 fields in this category that were found between 2008 and 2016 with collectively 11 Bbbl of oil and 36 Bboe of gas, but currently not progressing toward development. These volumes, which cost an estimated $24 billion to discover and with a combined value of $65 billion [1], account for 40% of the reserves proven in high-impact discoveries in this period. Westwood’s analysis shows the highest volume of ‘stalled’ gas is in the Ruvuma-Rufiji basin offshore Mozambique and Tanzania where 166
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Will Natural Gas Isolate Turkey And Integrate Israel In The Eastern Mediterranean?

For generations, the area around the eastern Mediterranean Sea has been filled with turmoil. From the Arab-Israeli conflict to the divided island of Cyprus and the general animus between Greece and Turkey, the region’s problems have seemed intractable. Over the last decade however, the discovery of massive natural gas deposits underneath the eastern Mediterranean Sea is reorienting the entire region. The rush to obtain energy independence and security by discovering and laying claim to gas and oil reserves is immensely important to the countries in the area. It is forcing them to reconsider historical relationships and presenting them with new possibilities
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Turkey Expands Gas Drilling In The Black Sea

After announcing a major natural gas discovery in the Black Sea earlier this year, Turkey has started drilling for gas at a second location in the sea, Turkish Energy and Natural Resources Minister Fatih Dönmez said on Twitter on Thursday. The Turkish drillship Fatih returned to drill for gas in the Black Sea at the Türkali-1 borehole, and the campaign will last 75 days, the minister said. Early last month, Dönmez said that Turkey plans to deploy a third drillship to explore for natural resources in the Black Sea. Turkey’s third drillship, Kanuni, will begin exploration in the Black Sea in early 2021 and
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