LNG

QatarEnergy, ExxonMobil and Egypt have agreed to assess commercializing Cyprus gas discoveries via Egypt’s existing LNG infrastructure. Supply from the Aphrodite discovery, estimated at 4.5 trillion tcf, will be routed to Egypt’s underutilized liquefaction plants at Idku and Damietta, with 12.2 mtpa capacity combined.

Delek Group, a stake holder in the East Mediterranean Tamar and Leviathan natural gas fields supplying Egypt, Israel and Jordan increased revenues by 88 percent and boosted operating income.

ExxonMobil and Qatar Petroleum, the leading global liquefied natural gas stakeholders, have made a large natural gas discovery offshore Cyprus in the Eastern Mediterranean, opening more prospects for regional LNG production.

Egypt is planning LNG production from feed-gas transported to its existing liquefaction plants near Alexandria via a pipeline linked to the Aphrodite natural gas offshore Cyprus as part of an East Mediterranean project costing up to an initial $1 billion.

French energy company Total and partners, Italian company Eni and Russian natural gas and LNG player Novatek, have signed two exploration and production agreements covering offshore Lebanon in the East Mediterranean.

Lebanon plans to award exploration and production licences in five offshore blocks in the East Mediterranean by November 15 this year in the Middle East country’s first attempt at establishing a domestic oil and gas industry to secure resource revenue and future infrastructure for LNG and gas-fired power.

Israeli East Mediterranean company Delek Group, with plans to supply natural gas to Jordan, Israel, Egypt and the Palestinian Authority has signed an agreement to acquire Canadian company Ithaca Energy for US$525 million.

UK maritime classification society Lloyd’s Register has been awarded a crucial role in oil and gas development strategies in Cyprus, where liquefied natural gas production is being considered onshore and offshore as well as pipeline exports.

July 6 (LNGJ) - Italian energy company Eni said it would begin exploratory drilling offshore southern Cyprus in 2017. Eni Chief Executive Claudio Descalzi confirmed the decision after a meeting with the President of the Republic of Cyprus, Nicos Anastasiades, that Eni remained committed to Cyprus and to the East Med in general as an exploration region. Noble Energy of the US and the Delek Group of Israeli have already been successful in Cypriot waters with the Aphrodite discovery amid related plans by Cyprus to build an onshore LNG plant at Vasilikos. Eni last year discovered the huge East Med Zohr natural gas field offshore Egypt with estimated resources of 30 trillion cubic feet.