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CYPRUS - THE EASTERN MEDITERRANEAN HUB, A SOURCE OF ENERGY FOR EUROPE

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Held under the Auspices of
H.E. the President of the Republic of Cyprus - Mr. Nicos Anastasiades

East Mediterranean Breaking News:

Reporter’s Notebook: A long road back for oil and gas
Houston’s oil and gas industry is facing a long recovery from the coronavirus pandemic if my family’s travel spending — or lack thereof — is any indication. Since the pandemic began to close the U.S. economy in March, my family has spent just $386 to gas up our two cars, about a quarter of the $1,412 we spent over the same six-month period last year. Our family of four spent nothing on flights so far this year, down from $1,220 by this time last year. Although my wife returned to work last month at a local school district, I’m still working from home like most of my colleagues at the Houston Chronicle. My usual 57-mile, round trip commute from Cypress to our Southwest Freeway office has been replaced by a short walk from my bedroom to the study. I’ll get to enjoy my shorter commute for several more months, as Chronicle editors say my coworkers and I won’t return to the newsroom for the remainder of the year. Click here for the original article
Egypt, Cyprus focus on natural gas pipeline amid tensions in eastern Mediterranean
At a time when the oil and gas industry is facing economic uncertainty as part of the consequences of the coronavirus pandemic and the decline in global prices as a result of an oversupply, the eastern Mediterranean region is marred by a frantic struggle over natural gas resources. Eastern Mediterranean countries have rushed to demarcate their maritime borders and exclusive economic zones in a bid to facilitate the gas exploration process. The United States Geological Survey estimated the natural gas reserve in the Mediterranean in 2017 at 340-360 trillion cubic feet with a financial value ranging between $700 billion and $3 trillion. Read more: https://www.al-monitor.com/pulse/originals/2020/09/egypt-cyprus-natural-gas-pipeline-east-mediteranean-turkey.html#ixzz6Y0cumlBC
Oil and gas companies have assured plans on track
Oil and gas companies have assured the government they remain committed to their projects in Cyprus’ exclusive economic zone and will stick to schedules revised due to the coronavirus situation, the energy minister said on Tuesday. “We have been in touch with all companies engaged in our EEZ… they anticipate that the delays owing to the coronavirus will not be repeated and that their programme will continue normally, under the timetables agreed,” Natasa Pilides told MPs. Whereas energy companies have had to discontinue several projects across the world, thankfully Cyprus is not among these, she added. Sometime in the coming weeks the government will hold a conference call with all the companies concerned. To continue reading the original article please click here

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.

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.