{"id":632976,"date":"2018-02-25T04:06:51","date_gmt":"2018-02-25T04:06:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/25\/egypt-might-sign-export-agreement-for-east-med-gas-to-europe-as-early-as-mid-2018\/"},"modified":"2018-02-25T04:06:51","modified_gmt":"2018-02-25T04:06:51","slug":"egypt-might-sign-export-agreement-for-east-med-gas-to-europe-as-early-as-mid-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/25\/egypt-might-sign-export-agreement-for-east-med-gas-to-europe-as-early-as-mid-2018\/","title":{"rendered":"Egypt might sign export agreement for East Med gas to Europe as early as mid-2018"},"content":{"rendered":"

<\/a> Egypt might sign an export agreement to ship East Med gas to Europe as early as mid-2018:<\/strong> Egypt will sign a memorandum of understanding with the EU to export gas from the East Mediterranean through its liquefaction plants before mid-2018, said Oil Minister Tarek El Molla at the International Petroleum Week conference in London on Thursday, according to a ministry statement<\/a>.<\/p>\n

Egypt is also closing in on an import agreement with Cyprus and Greece: <\/strong>El Molla said a preliminary agreement to import gas from Cyprus had been reached. Last week<\/a>, Cypriot Energy Minister Georgios Lakkotrypis said that \u201cCyprus is close to selling natural gas to Egypt\u2019s liquefied natural gas plants, and we could reach an agreement in the coming weeks.\u201d El Molla also noted that Egypt and Greece are in talks to establish a framework for further energy cooperation.<\/p>\n

PM Ismail sees last week\u2019s USD 15 bn gas import agreement as part of int\u2019l arbitration compromise:<\/strong> Prime Minister Sherif Ismail appears to see that the agreement signed last week<\/a>, which would see Alaa Arafa-led Dolphinus Holding import USD 15 bn-worth of gas from Israel\u2019s Delek and Noble, as part of a compromise to withdraw the USD 1.76 bn international arbitration ruling against EGAS, EGPC and East Mediterranean Gas (EMG). \u201cWe reached an agreement to receive part of the gas in Egypt via its pipelines and this is part of the resolution to the arbitration,\u201d Ismail told reporters on Thursday, according to Bloomberg<\/a>. He said an understanding had also been reached with Israeli Electric Company, but declined to give more details. The agreement would also help resolve the USD 1.03 bn arbitration ruling awarded by a Cairo arbitration court to EMG, he added, AMAY reports<\/a>. \u201cThe goal is not the import of gas from Israel. We opened up the Egyptian market. We are strongly seeking to receive Cypriot gas, too,\u201d Ismail also said.<\/p>\n

Private-sector solution to arbitration hurdle?<\/strong> This comes as sources close to the agreement told Mada Masr on Friday<\/a> that Delek and Noble Energy have begun talks with shareholders of EMG to acquire the company. The sources added that the pipeline, which had been used to export has to Israel, would be reversed if the transaction goes through.<\/p>\n

Last week\u2019s agreement also opens the door to resolving a USD 270 mn arbitration case with Spanish Egyptian Gas Company (SEGAS)<\/strong>, which runs the Damietta liquefaction plant and is 80% owned by Spain\u2019s Union Fenosa, the anonymous sources said. While the status of the case is unclear, High Council for International Arbitration commissioner Judge Moustafa El Bahabety had told Enterprise in 2016<\/a> that the case would be resolved soon. Union Fenosa Gas had filed<\/a> a complaint with the ICC in 2013 alleging that \u201cits state partner had failed to comply with contracts by halting gas supplies in 2012 and not making payments.\u201d The company itself had been pushing to import gas<\/a> from Israel over the years.<\/p>\n

The source also added that last week\u2019s agreement to import 64 bn cubic meters of gas from Israel was only one third of the total amount of gas Egypt plans to import from Israel.<\/strong><\/p>\n

Turkey continues to bully Cyprus, shooting itself in the foot and winning Cyprus support from the US and EU in the process: <\/strong>Now that Egypt, Israel, Cyprus and Greece have finally gotten the ball rolling on gas exports, Turkey is resorting to even more outlandish gunboat diplomacy. Cyprus accused Turkey on Friday for a second time of threatening to use force against a drillship chartered by Eni, according to Reuters<\/a>. Turkey has vowed to prevent Greek Cypriots from exploring for oil or gas around the ethnically-split island. Ankara\u2019s flexing of muscles led the US and the EU to signal support for Cyprus. The US supports the right of Cyprus to explore for natural gas<\/strong> and develop its resources in its Exclusive Economic Zone, a US State Department spokesperson told Ahval<\/a>. At the same time, the EU threatened to cancel a summit with Turkish potentate Erdogan next month<\/strong> as a result of the aggression. \u201cThese actions contradict Turkey\u2019s commitment to good neighborly relations,\u201d EU President Donald Tusk told reporters in Brussels on Friday, according to Bloomberg<\/a>.<\/p>\n

Egypt\u2019s potential to become the region\u2019s energy hub continues to capture the imagination of the international press. <\/strong>The Financial Times\u2019 Ed Crooks<\/a> suggests that Egypt is well on its way to being a regional gas hub after the signing of the agreement, which he paints as being as significant as the Camp David Accords<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt might sign an export agreement to ship East Med gas to Europe as early as mid-2018: Egypt will sign a memorandum of understanding with the EU to export gas from the East Mediterranean through its liquefaction plants before mid-2018, said Oil Minister Tarek El Molla at the International Petroleum Week conference in London on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-632976","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"2d4745ab-f03d-49c8-aa16-005505c5db35","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[632966],"teaser":"","voice_url":""},"yoast_head":"\nEgypt might sign export agreement for East Med gas to Europe as early as mid-2018 - 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Shell resumes EastMed ops and more from Med Offshore Conference","author":"enterpriseam admin","date":"18 April 2018","format":false,"excerpt":"Is this it? Are we going to be the energy export hub to the EU next week? Egypt is expected to sign a new oil and gas agreement with the EU next week, Oil Minister Tarek El Molla said yesterday, without providing further details. While he framed the announcement as\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630449,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/22\/egypt-and-the-eu-to-sign-mou-on-energy-cooperation-during-energy-commissioners-cairo-visit\/","url_meta":{"origin":632976,"position":2},"title":"Egypt and the EU to sign MoU on energy cooperation during Energy Commissioner\u2019s Cairo visit","author":"enterpriseam admin","date":"22 April 2018","format":false,"excerpt":"Egypt, EU to sign energy cooperation agreement this week: Egypt and the EU are expected to sign an MoU on \"Strategic Cooperation in Energy\" this week during EU Energy Commissioner Miguel Arias Ca\u00f1ete\u2019s three-day visit to Cairo, which begins today. It\u2019s unclear when exactly the signing will take place and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601442,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/28\/egypts-position-as-regional-hub-secure-as-lng-demand-looks-set-to-grow\/","url_meta":{"origin":632976,"position":3},"title":"Egypt\u2019s position as regional hub secure as LNG demand looks set to grow","author":"enterpriseam admin","date":"28 February 2019","format":false,"excerpt":"Israel\u2019s LNG export dreams look increasingly dependent on Egypt: It is increasingly clear that an agreement between Cyprus, Greece, and Israel reached last December to proceed with an East Med pipeline will not give Israel the edge to exporting the region\u2019s gas to Europe without Egypt, according to an analysis\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/263.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624916,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/fate-of-natural-gas-pipeline-from-cyprus-hinges-on-nicosias-talks-with-aphrodite-field-partners\/","url_meta":{"origin":632976,"position":4},"title":"Fate of natural gas pipeline from Cyprus hinges on Nicosia\u2019s talks with Aphrodite field partners","author":"enterpriseam admin","date":"23 September 2018","format":false,"excerpt":"Fate of natural gas pipeline from Cyprus hinges on Nicosia\u2019s talks with Aphrodite field partners: Construction of an underwater pipeline linking Cyprus\u2019 Aphrodite natural gas field with liquefaction facilities in Egypt will reportedly start in 1Q2019, just as the final contracts for the project are signed, Oil Ministry sources claimed\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625892,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/26\/egypt-could-be-processing-natural-gas-from-cyprus-by-2022\/","url_meta":{"origin":632976,"position":5},"title":"Egypt could be processing natural gas from Cyprus by 2022","author":"enterpriseam admin","date":"26 August 2018","format":false,"excerpt":"Natural gas from Cyprus\u2019 Aphrodite field could begin flowing into Egypt by 2022, according to comments attributed to Cypriot Energy Minister Giorgos Lakkotrypis last week by the Cyprus Mail. The plan, however, is contingent on talks between the Cypriot government and a consortium made up of Noble Energy, Israel\u2019s Delek,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/632976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=632976"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/632976\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/632966"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=632976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=632976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=632976"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=632976"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=632976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}