LNG

The Israeli Energy Ministry said four groups of companies have made bids in Israel's latest tender for offshore hydrocarbon exploration and production as interest grows in the East Mediterranean natural gas and LNG hub.

NewMed Energy, the Israeli natural gas company and LNG project developer in the East Mediterranean, said plans for the Aphrodite gas field offshore Cyprus are now focused on transportation of the gas by a pipeline to LNG processing facilities in Egypt.

Lebanon, the former ‘Switzerland of the Middle East’ and potential LNG importer, has Egypt standing by to help with supplies of pipeline natural gas as the nation ran out of hyrdocarbon fuel and cut power countrywide for a whole weekend with the situation expected to worsen.