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Egypt and Israel

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Egypt and Israel

Old 16th Jan 2020, 08:19
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Egypt and Israel

Interesting........

https://www.eg24.news/2020/01/reuter...ubic-feet.html

Reuters: Egypt receives gas from Israel at 200 million cubic feet

Wednesday 15 January 2020

Cairo – Agencies:

Two oil sources from Egypt told Reuters on Wednesday that the country started today receiving Israeli gas at 200 million cubic feet per day.

According to the historical agreement, a private company in Egypt, Dolphinus Holding, will buy 85 million cubic meters of gas valued at $ 19.5 billion from the Israeli Leviathan and Tamar fields for 15 years.

“Egypt started receiving 200 million cubic feet of gas per day, starting today, Wednesday, with the quantity gradually increasing,” one of the sources told Reuters, who asked not to be named. Gas is supplied via an underwater pipeline linking Israel and the Sinai Peninsula in Egypt.

Israeli officials described the export of gas as the most important deal concluded since the two countries signed a historic peace agreement in 1979.
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Old 16th Jan 2020, 08:28
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They agreed on this years ago - the Israelis (and the Egyptinas) have discovered vast new fields in the deepwater Med in the last 10 years - the Egyptians can use all the fuel they can get and buying it from Israel is a good deal for them - and the Israelis don't have to so spend billions on an LNG plant for export that would only be another target
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Old 16th Jan 2020, 16:48
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Also Israel will soon be supplying Jordan with gas. There are even outline plans to build a pipeline to Europe.
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Old 17th Jan 2020, 10:07
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If peace in Northern Ireland is possible then it might be possible in the Middle East as well. The more countries are linked by trade and investment the less likely they are to go to war. The Arab market is huge and Israeli products and technologies are well suited to it as the environment is similar.

Israel has the know how to grow food in the desert, and there are plenty of entrepreneurial high tech start up companies looking to expand outside the limited domestic market. The possibilities are limitless with the capital and expertise Israel could offer to the region. Not all Arab countries are rich in oil and many of those that are know it won’t last for ever and that Western countries are less dependent on it than they were back in the 1970s.
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Old 18th Jan 2020, 12:19
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Apologies for being pedantic.
Egypt has received 200 million Cu in a day, against a 15 year contract for 85 million? Perhaps the numbers need a sense check.

Apologies again - I spent 40+ years employed (allegedly working) in the North Sea gas industry.....
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Old 18th Jan 2020, 12:27
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From this weeks Gaffney Cline Oil Bulletin:-

This week was a historic one for the countries of the Eastern Mediterranean, which has become something of a global hot spot for natural gas in the last few years.

Two landmark events underlined the major opportunity for the region that stems from a string of successful gas discoveries that are finding their way to market in record time. The first of these events was the start of gas deliveries to Egypt from the Leviathan gas field in Israel. This gas will also find its way to other markets including Jordan, and even potentially Europe, via the LNG facilitates in Northern Egypt.

The second, and perhaps more fundamental event, was the signing of formal agreements to transition the East Med Gas Forum (EMGF), from a co-funded collaborative undertaking, to a fully qualifying international body, enshrined in a formal statute and with a constitution governing activities and funding. The current members of the EMGF include Egypt, Jordan, Palestine, Israel, Cyprus, Greece and Italy (the latter three being members of the EU). At the same ministerial meeting held in Cairo, France also indicated that it would like to join, and the US expressed a wish to be permanently represented as an observer.

The growing geopolitical role of natural gas, coupled with the increasing interconnection of global markets, means that international cooperation of this sort is becoming interwoven with many facets of foreign policy. In addition, with such intense competition emerging between different sources of gas globally, regional cooperation of this sort can play a key role in enabling economies of scale and other synergies that can make the difference between gas that is economic to produce, and gas that will remain in the ground.

Two other major global trends that regional collaboration can help to address include the growing reliance on wholesale markets to address volume and price risk, and the increasing focus on carbon intensity. Egypt is already going down a path of deregulation, aimed at the creation of a wholesale market for gas; but there is a long way to go before this can begin to match the sophistication of the more established hubs in Northern Europe. However, continuing integration of the regions gas transmission and LNG infrastructure means that an EMGF trading hub, complete with a financial market and futures contracts, could one day become a reality on a par with NBP and TTF.

On carbon intensity, many of the East Med developments have the benefit of high quality gas and minimal processing. This offers the region an opportunity to become a leader in low carbon intensity gas production, with which to leverage potential advantages in growing retail markets where consumers will pay a premium to keep the carbon consequences of their fuel requirements at a minimum.

As with all things gas, sometimes it is necessary to take the “long view” and plant seeds that might take decades to come to fruition. As we look at this week’s events in the Eastern Mediterranean, with the start of gas flowing across the region, and its new international body, one is reminded of the old English proverb, “Large streams from little fountains flow, Tall oaks from little acorns grow.”
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Old 20th Jan 2020, 11:38
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Originally Posted by krismiler View Post
...................... the Middle East as well. The more countries are linked by trade and investment the less likely they are to go to war. The Arab market is huge ......
Mmmmm! I think one Komrade Putin (who I gather sacked the whole Government last week/week before?) is hoping closer trade ties with Europe (ie exporting gas to Europe) means that he can do away with going to war too .... he simply waits until Europe is almost totally reliant and then ..... threatens to turn the taps off.....

Simples...... no war required!
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Old 20th Jan 2020, 11:42
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Personally I prefer 'Israel in Egypt' by Handel ... no war, good tunes and a happy ending ....
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Old 20th Jan 2020, 12:12
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Originally Posted by bobward View Post
Apologies for being pedantic.
Egypt has received 200 million Cu in a day, against a 15 year contract for 85 million? Perhaps the numbers need a sense check.
It's only a one letter mistake which for many news reports isn't too bad.
The actual figure is 85 billion cubic metres of gas.
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Old 20th Jan 2020, 13:50
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"he simply waits until Europe is almost totally reliant and then ..... threatens to turn the taps off

Fairs fair - the Brits have stopped him buying a house in S Kensington................
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Old 20th Jan 2020, 15:49
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Originally Posted by Asturias56 View Post
"Fairs fair - the Brits have stopped him buying a house in S Kensington................
That'll learn him!

End of Thread Creep!
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Old 20th Jan 2020, 22:33
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Originally Posted by bobward View Post
Apologies for being pedantic.
Egypt has received 200 million Cu in a day, against a 15 year contract for 85 million? Perhaps the numbers need a sense check.

Apologies again - I spent 40+ years employed (allegedly working) in the North Sea gas industry.....
I fall for the same issue and it took several attempts to find the difference..

Regarding the issue and Russia - I still don't understand why Europe and EU more specifically don't support the East Med pipeline to break the stronghold of Russian supplied gas.
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