Posts by EmcUK

Lebanon calls Israel’s decision for natural gas exploration in disputed waters ‘dangerous’

Lebanon plans to begin explorations for natural gas and oil in the coming months Lebanense President Michael Aoun said Monday that Israel’s decision to start oil and gas explorations in disputed waters known as Block 72 is “extremely dangerous,” according to Lebanon’s National News Agency. Lebanon plans to begin explorations for natural gas and oil in the coming months near its Block 9 gas fields, located near Block 72, The Jerusalem Post reported. Last week, Israel’s Energy Minister Yuval Steinitz approved a license for oil and gas exploration in Block 72, raising concerns among the Lebanese about the possibility of
Read More

Categories: News.

Cyprus moves ahead with LNG terminal works eyeing EU market

Natural Gas Infrastructure Company of Cyprus (ETYFA) has issued the Notice to Proceed to the Consortium that was awarded the construction works of the liquefied natural gas (LNG) project in Cyprus, Cyprus’ Natural Gas Public Company (DEFA) Chairman Symeon Kassianides told New Europe in an interview on June 24. “The launch of the terminal project is scheduled for July 9 with a ceremony that will take place at Vasilikos with the participation of Cypriot authorities and all stakeholders of this major energy project of significant strategic and environmental importance,” he said. To read more from this New Europe article please
Read More

Categories: News.

Turkey-Greece Energy Dispute Heats Up

ISTANBUL – Tensions between Turkey and Greece are escalating as both sides vow to defend their territorial rights. The increasingly acrimonious dispute centers on a scramble for energy in the contested waters of the Eastern Mediterranean. Athens and Ankara are both backing their words with displays of naval force, and fears of a confrontation are growing. On Monday, the Greek Kathimerini newspaper published what it described as Greek defense “deterrent scenarios” against Turkey. The scenarios include using force if Ankara goes ahead with planned drilling near the Greek Island of Crete. To continue reading please click here
Read More

Categories: News.

Why offshore gas in the Eastern Mediterranean has a complicated road ahead

The gas fields of the eastern Mediterranean, discovered over the past decade, have conjured a mix of myth: Aphrodite goddess of beauty, the sorceress Calypso, and the sea beast Leviathan. But the process of bringing these resources to market has been an odyssey with many twists and turns. Now the political struggle has become a clash of the titans. The American firm Noble discovered the Tamar gas field off Israel in 2009, the giant Leviathan field in 2010, then Aphrodite off Cyprus (the Greek, internationally recognised country) in 2011. Eni of Italy found Zohr in deep water offshore Egypt in
Read More

Categories: News.

Aphrodite in need of fresh thinking

AS expected, Noble Energy, the operator of Aphrodite, is putting development of the gas field on hold. I warned about this in my article on May 10. Noble confirmed this week. It said that, while it remains true to its commitments in Cyprus, it is reconsidering the field’s development plan in the light of difficult global markets. Noble intends to enter into negotiations with the government to agree a new development timetable. But ominously, it indicated that this would depend on global market conditions, gas demand and prices. Coupled with David Stover’s – CEO Noble Energy – statement on May
Read More

Categories: News.

Noble hints at delay in plans for Aphrodite gas field

Noble Energy, the primary concession holder on the Aphrodite gas field, has signalled they are putting on hold plans to develop and monetise the reservoir, while reiterating their commitment to the project. In a statement provided to daily Politis, the US company said that tumbling commodity prices due to the economic fallout linked to the global coronavirus situation, have led them to “reconfigure” their work schedule in Cyprus as well. While avoiding the term ‘delay,’ it could be inferred that Noble was hinting at exactly that. To continue reading please click here.
Read More

Categories: News.

EIB approves Cyprus LNG import facility

The European Investment Bank on Thursday approved a project proposed by Cyprus Public Natural Gas Company (Defa) for the import of LNG to the island. The Cyprus Public Natural Gas Company made the following comment, through its spokesperson: “Following a meeting of the Board of Directors of the European Investment Bank (EIB), funding was approved today, June 11, in Luxembourg, with funding of € 150 million for the construction of the liquefied natural gas pipeline project in Cyprus. , the Natural Gas Infrastructure Infrastructure Company (ETYFA), a subsidiary of the Public Natural Gas Company (DEFA). To continue reading please click
Read More

Categories: News.

Cyprus gives go-ahead for first LNG terminal

Cyprus’ Natural Gas Infrastructure Company (ETYFA) has issued notice to proceed with the international consortium awarded the contract to build an LNG Import Terminal, the island’s largest energy project. According to ETYFA’s statement, by accepting the notice, “the parties of the Consortium declare their commitment and their ability to deliver the natural gas infrastructure for electricity purposes within the specified schedule”. The total project budget is €290 mln. Part of this capital expenditure will be covered by the European Union, in the form of a €101 mln grant through the “Connecting Europe Facility”. Another €43 mln was provided as equity
Read More

Categories: News.

Why offshore gas in the Eastern Mediterranean has a complicated road ahead

The gas fields of the eastern Mediterranean, discovered over the past decade, have conjured a mix of myth: Aphrodite goddess of beauty, the sorceress Calypso, and the sea beast Leviathan. But the process of bringing these resources to market has been an odyssey with many twists and turns. Now the political struggle has become a clash of the titans. The American firm Noble discovered the Tamar gas field off Israel in 2009, the giant Leviathan field in 2010, then Aphrodite off Cyprus (the Greek, internationally recognised country) in 2011. Eni of Italy found Zohr in deep water offshore Egypt in
Read More

Categories: News.

EMC 2020 Postponement Notice to 2021

Due to the outbreak of COVID-19 across the globe, the EMC Organizers, in agreement with CHC – Cyprus Hydrocarbons Company, hosting partner of the event, have taken the decision of postponing EMC 2020 – The Eastern Mediterranean Energy Conference & Exhibition to September 2021, always in Nicosia, Cyprus.  Even though EMC 2020 has not suffered any change in terms of either cancellations of participants or interest in the show, we believe that the concerns and difficulties for the people and companies to travel would drastically affect the overall quality of the event.  With these rescheduled dates we are committed to delivering a successful event and
Read More

Categories: News.