Egypt

As Egypt’s role as an option for sending more natural gas to Europe solidifies, the country’s petroleum ministry has announced a new tentative partnership with Chevron Corp. to explore ways to boost its liquefied natural gas (LNG) exports. In a memorandum of understanding (MOU) announced by Egypt’s Ministry of Oil and Mineral Resources, Chevron and…

News that the outage at Freeport LNG in the US will last longer than initially expected drove up the ICIS European TTF gas benchmark due to lower expected US exports. The ICIS East Asia Index (EAX) also climbed, underscoring its close ties to Europe’s prices.

The European Union (EU) has created a framework for potentially sending more natural gas to the continent following a tentative agreement between Israel and Egypt. The EU and the two potential partners clinched a memorandum of understanding (MOU) outlining collaboration efforts. The MOU highlights plans to send Israeli natural gas to Europe using liquified natural…

Israel has released a new bid round for offshore natural gas exploration licenses as it moves to aid Europe and boost its position as a regional energy hub. Israel’s Ministry of Energy has mapped around 25 exploration blocks in the Mediterranean Sea that will be grouped into six clusters for bid. The process could officially…

Italy’s Eni SpA is expanding partnerships and exploration in some of its existing territories in order to boost natural gas deliveries to Europe. Eni announced it is working closely with the state-owned Egyptian Natural Gas Holding Co. to increase gas production and liquefied natural gas (LNG) exports from the country, with a specific target of…

Egypt is moving forward with its plans to become a regional natural gas hub as its two liquefied natural gas (LNG) plants are running at full capacity for the first time in more than a decade.   Egypt’s Petroleum Minister Tarek El Molla told news media at the East Mediterranean Gas Forum last month that the…

Italian supermajor Eni SpA has struck natural gas in its first exploration well in the North El Hammad offshore Egypt in the Nile Delta, adding to a gusher of opportunities in the region.  Eni, which operates the block in the Eastern Mediterranean (Med) with partners BP plc and Total SA, said the discovery at Bashrush…

ExxonMobil Corp. has secured more than 1.7 million acres to explore offshore Egypt, helping to build its natural gas and oil portfolio in the Eastern Mediterranean.

Egypt recently reached a landmark settlement with Israel, ending a multi-year dispute over natural gas deliveries and possibly opening the way for more growth in the Middle East.