Archives for Uncategorized

The Growing Alignment Between the Gulf and the Eastern Mediterranean

The synergies between the Gulf and the eastern Mediterranean theaters have grown substantially in recent years. Speaking at a meeting in Paphos, Cyprus in mid-April 2021 with his counterparts from Greece and Israel, as well as the former minister of state for foreign affairs of the UAE (now an advisor to the UAE president), the Cypriot foreign minister noted, “The evolving web of regional cooperation is creating a new narrative.” A week later, UAE and Israeli fighter jets flew together publicly — for the first time — in an international aerial exercise hosted by Greece. How can we explain the signs of growing
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Turkey’s Erdogan brushes off threats of EU sanctions, says Brussels ‘never honest’ with Ankara

Any potential economic sanctions the EU might impose on Turkey do not concern the country much, President Recep Tayyip Erdogan has said, accusing the bloc of never acting “honestly” towards Ankara. Speaking ahead of an EU leaders’ summit scheduled for Thursday, Erdogan said Ankara is not intimidated by threats of sanctions. At the same time, he signaled that Turkey was ready for negotiations in its spat with Greece over oil and gas exploration in the Eastern Mediterranean – but shifted blame for lack of progress onto Athens. “Any sanctions decisions that can be taken against Turkey do not concern us
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Global offshore oil and gas pipeline demand set for 26% drop in 2020, but recovery will be swift

The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year, with the size of total installations forecasted to reach 2,150 kilometers (km), a Rystad Energy analysis shows. This downturn’s impact on trunkline demand is, however, lighter than that of 2016, and recovery is likely to be swift, led by projects in the Middle East. Although it is set for a significant drop from last year’s 2,913 km, offshore trunkline demand is holding up much better now than during the previous downturn, when demand plummeted to just
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Categories: News and Uncategorized.

Turkey raises estimate of its ‘giant gas discovery’ but sceptics aren’t buying story on evidence so far

Turkey has raised its estimate of gas reserves in a field off its Black Sea coast to 405bn cubic metres (bcm) after discovering an additional 85bcm, President Recep Tayyip Erdogan said on October 17. Erdogan said in August that the field contained an estimated 320 bcm of gas, making it the biggest natural gas discovery ever made by Turkey, which is almost entirely dependent on oil and gas imports, largely from Russia, Iran and Azerbaijan, though recent months have seen the country turn more and more to liquefied natural gas (LNG) shipments, with the US becoming a growing provider. If
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Categories: clients, News, and Uncategorized.

Turkey’s growing energy demand and Eastern Mediterranean stance

As the economy and the population of Turkey grow, both business and consumer demand for energy increases. Turkey imports around $45 billion of oil and natural gas every year, and this constitutes the main cause of its current account deficit. Therefore, Ankara has been implementing policies that diversify its sources as well as reduce its dependence on imported energy. Currently, Russia is the biggest supplier of Turkey’s imported gas. A stable supply of oil and gas as well as the ability to meet future energy demands are priorities for Turkey, as they are for most countries. Turkey has been investing
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Will the lights stay on in Egypt?

In the blistering summer of 2014, Egyptians were facing spontaneous electricity blackouts for up to six hours a day, waiting hours in gas station lines often long enough to stretch across entire neighborhoods, and enduring hundreds of terrorist attacks targeting infrastructure. The energy industry was operating at just 70 percent as a result of a supply shortage that only added to high unemployment figures. Consumption surpassed production, and when the government diverted oil and gas ordinarily allocated for export to the local market, it accrued billions of dollars in debt to international oil companies. The energy crisis of 2013/14 was
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Categories: News and Uncategorized.

EMC Launches ‘EMC LIVE’ 2020 Webinar Series

With the 2020 edition of the EMC postponed to 2021, due to the Coronavirus pandemic, we are pleased to announce that in the meantime we have launched a series of live-panel webinars, which are aimed to further stimulate debate and help the industry assess the key changes happening in the region as we navigate our way through a tumultuous 2020. We are currently putting together the line-up of panelists but our planned 2020 EMC Live panels include: The Outlook for the Eastern Mediterranean’s Oil & Gas Industry – 29th July Assessing the Practical Considerations of Doing Business in the Eastern
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Categories: News and Uncategorized.