Salvador Gabarro, the chairman of Spanish utility Gas Natural for 12 years until November 2016, died in the morning of March 17 in Barcelona at the age of 81, the company has announced. He was appointed a director of Gas Natural in July 2003 and its chairman in October 2004 and five years later...
A Spanish and Italian partnership is exploring a possible boost in natural gas purchases from producers based in Israel in an agreement that could increase output and bring a long-running legal fight in the Eastern Mediterranean to an end.
Интервью с Джорджем Пападопулосом, одним из советников Трампа по внешней политике. Он рекомендует Израилю забыть о Турции и сосредоточиться на Египте, а также говорит, что через три года США войдут в тройку лидеров по экспорту газа. Запомните 2016 год как время исторической значимости. США становятся важным игроком на рынке экспорта сжиженного газа, а к концу десятилетия выйдут на третье место в мире по объему экспорта, после Катара и Австралии», — говорит Джордж Пападопулос (George Papadopoulos), новый советник потенциального кандидата в президенты США от Республиканской партии Дональда Трампа.
It is a period of confusion. The recent financial results for the third quarter of 2015 are heaping pressure on oil and gas companies in a moment when European, American and Russian politicians are actively intervening in the debate about the Nord Stream II project and Ukraine is going through challenges...
Forecasts predict a cold winter, autumn is already having an impact on energy consumption (according to GIE data, several countries are already withdrawing gas from their UGS facilities), and many companies are looking at investments in countries were the sun still shines: after Eni’s discovery...
Восточное Средиземноморье стало зоной активной разведки газовых ресурсов, особенно после обнаружения трех месторождений у берегов Израиля и Кипра. Тем не менее недавно итальянская компания ENI нашла в египетских водах одно из крупнейших залежей природного газа, что может серьезно изменить расклад в региональной энергетике.
В Кишиневе ночью с 24 на 25 июля активисты общественных организаций, члены и бывшие члены оппозиционных партий разбили палаточный городок на улице Болгарской напротив дома олигарха Влада Плахотнюка. Запись Молдавский протест впервые появилась Рабкор.ру.
Соглашение по газу, которое правительство Израиля готовится подписать с газовыми монополистами "Делек" и Noble Energy, делает значительные уступки этим компаниям, которые могут снизить доходы от налогообложения на миллиарды шекелей.
Уже сегодня в Молдавии может погаснуть свет. У страны нет своей электроэнергии и своих электросетей. Она пользуется киловаттами, которые испанская компания Union Fenosa, владеющая проводами, покупает в Приднестровье - у Молдавской ГРЭС. Собственником электростанции является Интер РАО ЕЭС . Российский продавец обвиняет испанского покупателя в неплатежах и обещает задействовать рубильник. Крайним в этом истории оказался молдавский потребитель. Подробнее читайте на нашем сайте www.oilru.com
Egypt is looking to import natural gas from Israel. Once a net natural gas exporter, Egypt is now facing a severe energy crisis that is threatening more power outages and an increase in the price of electricity for the private and commercial consumer. A mismanagement of the country’s resources led to a domestic shortfall. Egypt previously exported gas to Israel and Jordan via the Arab Gas Pipeline. Several attacks to the pipeline in the aftermath of the 2011 revolution that toppled Husni Moubarak have led to the disruption in the flow of gas from Egypt to its neighbours. The disruption of gas has left the Kingdom of Jordan energy thirsty and with a spiking energy bill that is putting a strain on the economy and the government’s budget. Israel’s discovery of natural gas could not be more timely. Not only is Israel studying various options for the export of its gas found mainly in the giant Tamar (10 Tcf) and Leviathan (21 Tcf) fields, but the country’s natural gas independence is now secured for decades to come. Importing natural gas from Israel would make both technical and economic sense for Egypt. The gas would flow via pipeline in the opposite direction than it did historically. For Israel, exporting the gas to far-reaching market has proven tricky. The complicated geopolitical landscape in the region have made all scenarios, including pipeline, LNG and FLNG, complex. Israel has expressed its regional strategy, starting by exports to its surrounding: Jordan, Egypt and the Palestinians. Exporting gas to Egypt would also allow Israel to use Egypt’s unused export terminals to reach lucrative markets in Europe and Asia. Egypt’s Energy Minister Sharif Ismail confirmed to local media that importing gas from Israel was a possibility. He added that decisions on import are made with Egypt’s best interests at sight. The partners in the Leviathan and Tamar fields have signed MOUs to export natural gas respectively to BG’s LNG plant in Idku and to the LNG plant in Damietta, operated by Union Fenosa Gas. Recent regulatory hurdles in Israel have however made Israel’s regional ambitions questionable. A climate of uncertainty and hostility is surrounding the development of Israel’s offshore resources. In December 2014, Israel’s Antitrust Commissioner announced he was reconsidering an agreement that would have allowed Delek and Noble to pursue their partnership in the Leviathan and Tamar if they sold two smaller fields, Tanin and Karish. A final decision is expected by February 2015, but there is no doubt that the risk of the partners being qualified a cartel might deter international investors from participating in Israel’s gas developments, push Noble out and defer the development of the Leviathan further beyond 2018, and with it all the deals attached. Karen Ayat is an analyst and Associate Partner at Natural Gas Europe focused on energy geopolitics. She reads International Relations and Contemporary War at King's College London focusing on Natural Resources and Conflict. She holds an LLM in Commercial Law from City University London and a Bachelor of Laws from Université Saint Joseph in Beirut. [email protected] her on Twitter: @karenayat
Cyprus’ hopes of stepping into the gap opened up by Israel’s gas problems are at risk of foundering on collapsing gas prices, The Cyprus Weekly has learned. The opportunity for sales of Cyprus gas to Egypt appeared to increase on December 23, when Israel’s Antitrust Authority ruled that the partnership in the giant Israeli Leviathan field constituted a monopoly. Unless a solution is found, this could stop them exporting from Leviathan. The Leviathan partners had signed a letter of intent to supply the Idku plant in Egypt with 7bcm per year for 15 years. Problems with Israeli supply focused more attention on Cyprus’ talks to supply gas to BG’s Union Fenosa Liquefied Natural Gas (LNG) in Egypt from the Aphrodite field in Block 12. However, former chairman of the Cyprus National Hydrocarbons Company Charles Ellinas says that the oil-related drop in gas prices could have a negative impact on Cyprus’ efforts. MORE
The Tamar gas field may be upgraded at a cost of between $1.5 billion and $2 billion, including the construction of an underwater pipeline to a plant in Egypt run by Spain’s Union Fenosa Gas, the partners that own and operate the field said Thursday. The partners are considering expanding production with three new wells and upgrading a production platform near Ashkelon, with the aim of doubling the field’s capacity to 20 billion cubic meters annually, said Delek Group, which owns Tamar together with Noble Energy of Texas and Israel’s Isramco and Dor Alon. The pipeline is contingent on the partners signing a supply deal with UFG, it said. Delek said the expansion program is to be in place by 2017. Shares of Delek Drilling and Avner, the two Delek Group units with stakes in the Tamar field, rose by 1.1% to 19.20 shekels ($5) and 0.8% to 3.43 shekels, respectively, in Tel Aviv Stock Exchange trading Thursday. MORE
The last days further turned the spotlight on two areas: the East Mediterranean and the Baltic countries, with some more relevant news coming from Croatia, Russia and the United Kingdom. The current debate about European legislation made the headlines too. The most unexpected news has to do with some declarations about Eni’s participation in the South Stream project. The Italian company will continue to engage in South Stream if required investment does not exceed 600 million euros, otherwise it will consider leaving the project, Eni CEO Claudio Descalzi said on Tuesday. South Stream is the bone of contention between Budapest and Brussels. Hungary will continue supporting European sanctions on Russia, while preserving its political and economic ties with the Kremlin on issues such as the Russia-led South Stream natural gas pipeline project. Pavel Zavalny, President of the Russian Gas Society and Deputy Chairman of the State Duma Committee on Energy, sent his views on the issue to Natural Gas Europe. According to Zavalny, the project would be a real pan-European project, facilitating the integration of the regional gas markets. European integration had been debated also in other contests. The topic was the main topic of a conference in Berlin, in which speakers suggested that signs of market integration are often underestimated despite the problems. ENTSOG also added that opposite interests are hindering its efforts to come up with a Network Code on Harmonised Transmission Tariff Structures for Gas (TAR NC), a cornerstone of the integration process. ENTSOG said that some positive signs come from the way European TSOs are involved in early implementation practices in issues related to Network Code on Capacity Allocation Mechanisms (CAM NC). The Baltic countries are moving forward with their plans to step up integration efforts. The fact that Finland is becoming the majority shareholder of Gasum clearly indicates that the geopolitical dimension of the European still matters. The attention paid by Finland’s Alexander Stubb and Estonia’s Taavi Rõivas is a further proof. The two countries inching towards an agreement on laying a gas pipeline between the two countries and building an LNG terminals on both sides of the Gulf. Similarly, also the East Mediterranean are progressing with the negotiations. For instance, partners in the Tamar field agreed with Union Fenosa Gas (UFG) on continuing negotiations for supplies of natural gas. They see a deal within six months. An eventual renewed interest on the area would also have an impact on the role of Greece. Its geostrategic location on the map offers a number of advantages, which can translate to an economic competitive advantage, as well as to an upgrade of its geopolitical role in South-East Europe. It comes as no surprise that Azerbaijan’s SOCAR is committed to its plan to acquire a majority stake in DESFA. SOCAR said the Commission is opening a “Phase II” in-depth investigation into the proposed transaction, with a final decision to be taken within 90 working days. Meanwhile, Höegh LNG announced the signing of a contract with EGAS of Egypt for a floating storage and regasification unit (FSRU). Croatia is trying to take advantage of the situation with its first offshore licensing round. Over the last days, Zagreb said that it will decide the best offshore bidders by mid-December. The country is intentioned to cut its gas import needs, despite some hurdles on the way hindering Croatian efforts. On the other hand, the British took advantage of its experience. The UK government announced 134 licences covering 252 block in the 28th offshore licensing round, adding that an additional 40% could be added later on after environmental assessments. UK-based IGas revised its shale GIIP estimates after announcing results of its exploration well at Barton Moss in PEDL 193 in the North West of England. Against this backdrop, Ukraine and Russia remain at loggerheads. Naftogaz clarified that it will prefer gas from the EU to Russian gas. Only in case of excess demand will we make use of our right to buy gas from Gazprom, Naftogaz’ CEO Andrei Kobolye, commented. Russia in the while is trying to maintain its centrality on the European gas markets, strengthening its ties with Azerbaijan and starting price negotiations with PGNiG. Sergio Matalucci Sergio Matalucci is an Associate Partner at Natural Gas Europe. Follow him on Twitter:[email protected]
On Thursday, partners in the Tamar field agreed with Union Fenosa Gas (UFG) on continuing negotiations for supplies of natural gas. ‘The Partnerships are pleased to update that on November 5, 2014, the Tamar Partners together with UFG agreed to extend the above mentioned period in order to continue negotiation which is in advanced stages towards completion and signing of the Binging Agreement,’ reads the note released on Thursday. The partners in the field are Noble Energy Mediterranean (36.00%), Isramco Negev 2 (28.75%), Avner Oil Exploration (15.625%), Delek Drilling (15.625%), Dor Gas Exploration (4.00%). In October, US-based Noble Energy and Israel-headquartered Delek Group announced their intention to sign an export deal with Egypt. Also on Thursday, RWE appointed Paul van Son as Country Chair in Dubai to increase the German company’s presence in the MENA/Turkey region from January 2015. ‘This increased involvement in the region will be a key component of international business development for RWE. Paul van Son will report directly to the CEO of RWE AG,’ the company wrote on its website.
After years of dependence on natural gas supplies from its Egyptian neighbour, Israel now finds itself on the other side of the table. The gas will flow from Israel’s Tamar field to Egypt in the same pipeline that historically delivered gas in the opposite direction. The Tamar partners said to be discussing the sale of 5 billion cubic metres (bcm) of gas over three years to private customers in Egypt. The partners in Israel’s second largest discovery are also in talks to provide an annual 4.5 bcm of gas for 15 years to Union Fenosa Gas for its liquefied natural gas (LNG) plant in Egypt and a total of 1.8 bcm over 15 years to Jordan. The partners in the Leviathan, Israel’s largest field estimated at 21 Tcf, are also negotiating a deal with BG Group to export 7 bcm of gas a year over 15 years for their LNG plant in Egypt. The planned sales of natural gas by Israel to Egypt find their explanation in Egypt’s severe need for natural gas and its unused LNG export terminals. The Arab neighbour had mismanaged its indigenous production of natural gas by committing to gas export deals with Israel and Jordan that harmed local consumption and led the government to dishonour the agreements. Now Egypt is suffering from domestic shortfalls at home and fears that electricity shortages will increase domestic unrest and create further political tensions. Egypt’s export terminals also constitute an opportunity for Israel looking to market its gas in global markets. The termination of Israel’s talks with Australia’s Woodside was the confirmation that Israel does not have an immediate plan to construct its own LNG terminal and would rather opt for alternative export routes. Using Egypt’s LNG export terminals would allow Israel to reach global markets without having to embark in the costly and timely endeavour of building its own terminal. Noble’s talks with Jordan’s State Owned Electricity Co. are also the indication that Israel will be seizing regional opportunities by supplying gas to thirsty arab neighbours. Jordan too suffered from the disruption in the flow of Egyptian gas and is now undergoing a severe energy crisis. Despite national plans to develop indigenous resources and diversifying the energy portfolio to include renewable and nuclear sources. the Kingdom needs immediate relief and importing gas from adjacent Israel would help ease a spiking energy bills suffering from expensive imports. The potential deals between Israel and its Arab neighbours are commercially sensible, albeit politically sensitive. Final agreements will be subject to regulatory approvals from the authorities involved. However, looking at how Jordan announced the potential deal to its public as an agreement between Jordan’s state owned electricity company and an American company (Noble), and the sabotages to the pipeline transporting gas from Egypt to Israel in 2011, it is no guarantee at all that the deals will go through smoothly. Karen Ayat is an analyst and Associate Partner at Natural Gas Europe focused on energy geopolitics. She reads International Relations and Contemporary War at King's College London focusing on Natural Resources and Conflict. She holds an LLM in Commercial Law from City University London and a Bachelor of Laws from Université Saint Joseph in Beirut. [email protected] her on Twitter: @karenayat
В связи с профилактическими работами RED UNION FENOSA временно приостановит подачу электричества некоторым потребителям на территории автономии.
A 72-hour truce ended on Friday, causing the violence between Israel and Gaza to resume. Ceasefire efforts brokered by Egypt were able to secure another cessation of hostilities, albeit only temporary.. With no sight of a real solution to the problem, the probability of a pipeline from the Leviathan to Turkey is decreasing by the day. Turkey’s Energy Minister said: “If a pipeline is built from Israel, it will flow not with gas but with the blood of innocent children and mothers,” as reported by Hurriyet. The diplomatic ties between Israel and Turkey were headed towards normalisation since the March 2013 US-brokered apology by Prime Minister Netanyahu to the Turks over the Mavi Marmara incident. The Israelis had also fulfilled the second condition imposed by the Turks by committing to compensate the families of the nine victims who were killed on board of the Mavi Marmara ship that was headed to Gaza to break the blockage and bring humanitarian aid to the people of Gaza. The amount of the compensation was yet to be determined by Israel. The third condition imposed by the Turks to resume diplomatic ties with Israel was the lifting of the blockade on Gaza. Energy experts believe that Turkey would benefit economically from an energy deal with Israel and would realise its energy hub ambition by connecting the East Med to Europe. Turkey’s stance on Gaza has however remained unchanged throughout the years, and whether it stems from noble principles or pure populism is debatable.Another obstacle to an Israel-Turkey deal would be the problem of the division of Cyprus, Cypriot officials insist that any energy collaboration between Turkey and Israel needs the approval of the Republic of Cyprus. Since Israel’s action in Gaza, the Israeli-Turkish relation has regressed. Israel has yet to find a way to transport its large amounts of natural gas to export markets. Egypt has played a role in brokering the talks between Israel and Gaza proving that Israel and Egypt maintain full diplomatic relations. Egypt could play the role of a corridor to facilitate the transportation of Israeli gas to export markets namely Europe and Asia. Egypt has unused export facilities that could be used by Israel. On June 27 the Leviathan partners signed a letter of intent to hold talks with a subsidiary of BG Group PLC about supplying the company’s gas liquefying plant in Egypt. The Tamar partners also signed on May 5 a non-binding agreement of intent to sell gas from the Tamar field to Union Fenosa Gas SA’s liquefied natural gas plant in Egypt. Historically, Israel received most of its natural gas needs from Egypt until the 2011 Egyptian revolution caused repeated sabotaging of the pipeline transporting gas from Egypt to Israel. Egypt is now suffering from its own energy problems as it undergoes severe shortages of natural gas due to flat production, growing consumption and ongoing export obligations. An energy deal between the two countries seems to be the optimal solution for the Israel’s quick, low cost and simple access to LNG markets. Karen Ayat is an analyst and Associate Partner at Natural Gas Europe focused on energy geopolitics. Email Karen [email protected] Follow her on Twitter: @karenayat
Israel’s export strategy has been the object of various speculations since the country’s Supreme Court ratified in October 2013 a June 2013 decision by Netanyahu’s cabinet to export about 40% of the country’s offshore natural gas reserves. Based on a total estimate of 900 billion cubic meters (BCM), the Israeli government in June decided to allocate 540 billion cubic meters (BCM) for the domestic market and allow the export of the remainder. But how will Israel reach export markets, via which route and using which technology? Noble Energy, the operator of Israel’s giant Leviathan field - which estimate was recently increased to 21.95 trillion cubic feet (Tcf) from 18.91 Tcf- has been studying various export options including LNG and pipeline scenarios. Israel has announced that it will start by exporting some of its natural gas to its immediate neighbours: Egypt, Jordan and the Palestinian Authority. Israel’s neighbours are in fact in need of the product and could import Israeli natural gas via pipeline. Egypt had historically been the main natural gas supplier for both Israel and Jordan until the Arab uprising in 2011 that led to the sabotage of the pipeline transporting Egyptian gas to Jordan and Israel. Egypt is now suffering from domestic shortages due to increasing Egyptian consumption, ongoing export obligations and flat production. In the absence of Egyptian gas, Jordan too entered a severe energy crisis that forced the Kingdom to import expensive fuel products and implement efforts to develop indigenous resources that include wind and solar, shale oil, natural gas and nuclear. Selling gas to its immediate surrounding via pipeline will only slightly reduce Israel’s export quota. Israel will look to reach further markets with larger appetites: Europe and Asia. The Leviathan partners considered selling part of the Leviathan (25-30%) to the Australian firm Woodside in exchange of its LNG expertise, as LNG will offer Israel the flexibility to reach lucrative markets regardless for their geographical locations. However, the negotiations between Israel and Woodside failed to reach an agreement due to the Israeli authorities rigid positioning in regards to tax and the parties’ failure to agree on the field development costs. Using Cyprus’ planned LNG terminal at Vassilikos to reach export markets was also advanced as an option but Israel has not expressed a decision to pool costs with the island for the construction of the multi-billion dollar facility and seems to have opted for alternative routes. A pipeline from Israel to the Turkish coast would give Israel access to Turkey’s internal market and Europe. Israel’s March 2013 reconciliation with the Turks over the Mavi Marmara incident led to believe that the likelihood of a Leviathan-Turkey pipeline was increasing. Turkey, with a large and growing domestic demand and expiring contracts is an attractive customer. Turkey could also serve as a gateway to Europe. However, various obstacles stand in the way of such a deal: the division of Cyprus and the deteriorated relations between Turkey and Israel. Firstly, Cypriot officials repeatedly expressed their opposition to an Israeli-Turkish deal that would bypass their agreement given that such a pipeline would have to cross Cyprus’ EEZ (to avoid Lebanese and Syrian waters). Secondly, the historically strong diplomatic ties between Israel and Turkey soured in 2010 following the Mavi Marmara incident that led to the killing of nine Turks on board of the ship. The renewal of the friendship became contingent on three conditions set by the Turks: Israel’s apology to Turkey, a financial compensation to the families of the victims and the lifting of the Gaza blockade. Netanyahu apologized to Turkey in March 2013 and promised to financially compensate the families of the victims. However, the ongoing Israeli assault on Gaza will no doubt impede the normalisation of the diplomatic relations between Israel and Turkey, and hence cause a major obstacle to the Leviathan-Turkey pipeline. Does Erdogan’s harsh speech stem from noble principles or is it animated by populism and the desire to please Arab friends? And did Israel lose its interest in resuscitating its friendship with the Turks? Has Israel decided that it will use Egypt’s export terminals instead and given up on pleasing Turkey? Currently, Egypt seems to be Israel’s only access to energy markets. Israel’s Tamar and Leviathan partners have signed letters of intent to sell respectively 4.4 BCM and 7 BCM annually to Union Fenosa and BG. The gas will be delivered to Egypt via pipeline and then headed to Asian markets. The deals are expected to be signed by the end of 2014. Karen Ayat is an analyst and Associate Partner at Natural Gas Europe focused on energy geopolitics. Email Karen [email protected] Follow her on Twitter: @karenayat