Egypt’s gas gain doesn’t have to be Israel’s loss

Israeli fears that a new Egyptian gas find could be harmful are overblown. 

Israel’s fears that Eni’s massive Mediterranean gas find off the coast of Egypt will derail its own limping gas development plans don’t have to come to pass, according to Claudio Descalzi, the Italian oil and gas company’s chief executive.

The Zohr field’s discovery on August 30 firms up the potential for a new Mediterranean hub, which can receive gas from some of the biggest newcomers in the industry and send it on to the EU, a market that’s desperate to diversify its supply, Descalzi told POLITICO this week.

Focus Group(s): Policy and Regulation
Games Changers for LNG Markets in the East Mediterranean

This article explores the impact of global dynamics in natural gas pricing and regional game changers on the gas markets in the East Mediterranean. Putting Egypt, Israel and Cyprus in focus, the authors offer a snapshot of policy and market developments pre- and post-August 30th, when ENI’s major natural gas field discovery was announced. This way, the analysis below provides insights in such key questions What market environment do the new energy exporters find themselves in today? and what are the export routes that could bring the East Med gas to the European markets?

Focus Group(s): Commercial, Policy and Regulation
ENI’s Mammoth Discovery And Egypt's Chance

Securing foreign investments and establishing more attractive terms when it comes to its natural resources, have been the two items on the top of the new Egyptian government's agenda according to Credit Suisse.  This allowed for an energy exploration deal to be signed between Egypt’s oil ministry and Italian energy giant, Eni SpA, back in June. This deal, worth $2 billion, followed a memorandum of understanding in March, and allowed Eni to explore in Sinai, the Gulf of Suez, the Mediterranean and areas in the Nile Delta.  Eni is no stranger to Egypt; it has been operating there for over 60 years through its Egyptian subsidiary IEOC (International Egyptian Oil Company) which produces a daily output of around 200,000 barrels of oil.

Focus Group(s): Policy and Regulation, Commercial
Young and Talented Greeks rebrand Greece - Interview with the Vice President of the GEF

“Let our energy shape a brighter future”

Dr. Angelos Gkanoutas Leventis is another high- skilled, young Greek professional who left Greece at the age 18 to “discover” the world of economics of the oil market. Holding the position of a Fellow in the CITYPERC Research Centre (City University, London) on the energy and hydrocarbon markets research and being part of the commercial management team in BP, he is the founder and Vice- Chairman of Greek Energy Forum (GEF), an exclusive group of energy professionals sharing common interest in the broader energy industry in Greece and Southeastern Europe. The members of the GEF originate from a wide spectrum of energy-related backgrounds, benefiting the Greek Energy Forum with a multi-disciplinary skillset and a holistic approach of the energy sector.

Focus Group(s): Engineering and Technology, Commercial, Power Markets, Policy and Regulation, Trading and Shipping
Financing Gas Projects in the Eastern Mediterranean

In this paper, the authors provide a detailed assessment of the factors that influence investment in gas and related infrastructure projects worldwide with a focus on the Eastern Mediterranean. They examine the relative merits of project finance and corporate finance for the development of offshore gas resources and for bringing the gas to market. In this analysis, they draw lessons from experience around the world and from the track record of the companies involved in exploration and production in the Eastern Mediterranean. 

Focus Group(s): Commercial
Greek LNG As A Strategic Priority, Not A Conditional One

 “A well-connected EU energy market where energy flows freely across borders and no Member State remains isolated from the EU energy networks is a pre-condition for creating a resilient Energy Union with a forward-looking climate policy.” 

These were the words used by the European Commission in the opening statement of the press release published following the meeting of the Central Eastern and South-Eastern European Gas Connectivity High Level Working Group (CESEC) meeting which took place in Dubrovnik on the 10th of July.

Focus Group(s): Policy and Regulation
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