Archives for News

Energean seeks help from Cypriot politicians in Israeli gas supply bid

Greek oil and gas producer Energean seeks to convince Cypriot parliamentary party leaders to pressure the government into accepting its proposal to sell its Israeli gas to Cyprus. In a statement on Tuesday, Energean said it had requested a meeting with Cypriot political leaders to “inform them of our proposal to import natural gas to Cyprus through a pipeline from Israel”. It said letters have already been to the parliamentary parties and Energean is waiting for meetings to be arranged. For more information please visit the original article.
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Categories: News.

Calling All Blog Writers!

We are pleased to announce the growth of the EMC programme and exhibition – an important part of this is the continued growth of the  the EMC blog – if you have any paper or article submissions please do get in touch! The content should be not contentious (political and commercial) and will help to assess and address the key technical, commercial and industry challenges facing the sector today. We look forward to hearing from you!
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Categories: News and Uncategorized.

EMC Conference Update

The EMC 2020 team is proud to announce that the conference is taking shape with over 80+ speakers from across the region. Whilst the team starts to work with approved speakers to assign them to specific slots we will be updating the programme each Friday.  
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Cyprus Signs Landmark Deal to Build €290 mln LNG Terminal

Cyprus on Friday signed a landmark deal with a Chinese-led consortium to build a €290 mln terminal for the import of liquified natural gas for electricity generation, said to be among the biggest energy projects. At a ceremony in Nicosia, Cyprus’ natural gas infrastructure company (ETIFA)) signed a contracted to build its first LNG terminal with the multinational consortium led by China Petroleum Pipeline Engineering. For the full article please click here.
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ME Oil & Gas Sector ‘Could Lose Big by not Going Digital’

The oil and gas industry in the Middle East region stands to potentially lose trillions of dollars by not fully embracing digital, said professional services firm Deloitte in its latest Middle East Point of View magazine. Topics discussed by Deloitte’s experts in the Fall 2019 issue of the magazine include: The oil and gas industry in the Middle East, smart cities, digital service tax, and national mandates, along with a special focus on Cyprus. In their article “Standing still is not an option”, Bart Cornelissen, Energy, Resources and Industrials leader and Youssef Barkawie, partner, Consulting, note: “The oil and gas
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The Biggest Oil Discoveries of 2019

Amidst all the talk revolving around finding newer sources of energy, the world is still making huge oil and gas discoveries. Since the shale boom, conventional oil discoveries have fallen steeply, and stands at its lowest in 70 years. There are still several amazing discoveries though, in the mysterious deep. In fact, 2019 has seen the discovery of 8 billion barrels of oil equivalent, compared to 10 billion barrels of oil equivalent in 2018.  What is disappointing though, is that our consumption rate is much higher than our current resource replacement rate. According to TradingBeasts, oil today accounts for as
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Israel tells Energy Companies to Pause on Cyprus Gas Project

JERUSALEM: Israel‘s Energy Ministry has advised three energy companies not to start work on the Aphrodite gas field off Cyprus until the two countries reach agreement over ownership of the reserves. Cyprus and Israel have been in dispute for several years over the gas reserves that straddle their maritime border, with no guarantee of any immediate resolution. Cyprus last month signed a 25-year concession with Noble Energy, Shell and Delek Drilling for exploitation of the Aphrodite field, which was first discovered in 2011. The director general of Israel’s Energy Ministry, Udi Adiri, sent a letter to officials at the three
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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
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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.
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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
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