(Oil Price) – Egypt is currently in talks with U.S. and other foreign companies to purchase long-term volumes of liquefied natural gas (LNG) instead of relying on the more costly spot market, according to an exclusive Reuters report, as the country’s gas production continues to decline. “The ministry (of Petroleum) is seeking three or four years of supply to hedge from
World Oil (Bloomberg) – Israel’s natural gas flows to Egypt have increased as much as 60% this month, according to a person familiar with Egyptian imports, as safety concerns from the war with Hamas eases and a major natural gas field resumes production. Shipments have risen to 350-400 MMcfd from about 250 MMcfd earlier in November, the person said, asking
Reuters CAIRO – Egypt’s Suez Canal must move quickly to upgrade its technical infrastructure if it is to avoid future shipping disruption, shipping industry sources said, as the major trade route tries to bounce back from a costly six-day closure. International supply chains were thrown into disarray on March 23 when the 400-metre-long (430-yard) container ship Ever Given ran aground
CNBC CAIRO — Egyptian authorities may seek over $1 billion in damages for helping to clear the Ever Given from the Suez Canal, as a dilemma emerges over who might foot the bill. “We will reach over a billion dollars in compensation,” Osama Rabie, the chairman and managing director of the state-owned Suez Canal Authority, told Egypt’s Sada El Balad channel
Reuters JERUSALEM – Seven energy ministers will sign the charter of a new Middle East energy forum that will promote natural gas exports from the eastern Mediterranean to Europe and other markets, Israeli energy officials said on Monday. “The East Mediterranean Gas Forum, which until now has been a stage for discussions only, is in fact becoming a real international
Reuters Egypt began importing gas from Israel’s largest offshore gas field, Leviathan, on Wednesday, a step Cairo hopes will help it become a regional energy hub. Rapid growth in Egypt’s natural gas supplies, boosted by the discovery of the Mediterranean’s largest field, turned it from a net importer to exporter in late 2018. ISRAEL DEAL Egypt’s Dolphinus Holdings signed deals
From Reuters Somewhere on its journey from the waters off Iran, around Africa’s southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own. The ship carrying 2 million barrels of Iranian crude was seized by British Royal Marines
From Bloomberg Egypt will begin receiving gas from Israel under a $15 billion deal around the middle of the year, after unexpected issues with the pipeline connecting the countries delayed the start-up by several months, people familiar with the situation said. Shares of the largest Israeli partner in the gas fields fell. Egyptian Oil Minister Tarek El-Molla told the CERAWeek
From CNBC BP has invested more money in Egypt in the last two years than anywhere else, the oil giant’s Chief Executive Bob Dudley told CNBC. “Today (the scale of our operations) is very big,” Dudley told CNBC Monday. “We produce oil in the Gulf of Suez but really our focus in the last five years has been this big push
From Bloomberg Talks are in progress to build a new underwater gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep, Israeli Energy Minister Yuval Steinitz said. Israeli gas stocks rose. Construction could begin as early as next year on the pipe to transport gas from Israel’s offshore
Leviathan anticipated production is at least 350 MMcf/day (gross) Noble Energy (ticker: NBL) gave more updates today regarding its agreements with the Eastern Mediterranean Gas Company S.A.E, the owners of the EMG Pipeline, a 90-kilometer pipeline located mainly offshore of Israel. The agreements will support delivery of natural gas from offshore Israel into Egypt, specifically the offshore Leviathan and Tamar
From Hellenic Shipping News/Platts Egypt and Cyprus have agreed to build a subsea pipeline to link the significant gas resources located in Cypriot waters with Egypt’s two — mostly idled — LNG export facilities. Egypt’s energy minister Tarek el-Molla and his Cypriot counterpart Yiorgos Lakkotrypis signed an intergovernmental pact Wednesday, signaling the countries’ desire to cooperate in bringing East Mediterranean gas
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
