Israel, Cyprus, Greece and Italy are expected to sign an intergovernmental agreement for the EU-backed EastMed pipeline project in March.

26/02/2019 09:33 Natural Gas

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Israel, Cyprus, Greece and Italy are expected to sign an intergovernmental agreement for the EU-backed EastMed pipeline project in March to transport natural gas from Israel’s Leviathan field and Cypriot fields via Crete to Italy, and then onward to the rest of Europe.

According to the European Commission, EastMed is a PCI (Project of Common Interest) in the current 3rd union list of PCIs. They have received a Connecting Europe Facility (CEF) grant to carry out a number of studies. “They applied to the 4th list the preparation of which is on-going. Adoption is foreseen by the Commission in late 2019,” a Commission spokeswoman told New Europe on February 22.

 

Meanwhile, the exact announcement date for the signing of the intergovernmental agreement is expected to follow an announcement reportedly this week by US energy giant ExxonMobil and Qatar Petroleum of the results from two-test drills offshore Cyprus for hydrocarbons. Media has speculated that ExxonMobil could announce a “sizeable find” similar to Egypt’s Zohr in Block 10 following exploration drills at wells Delphine-1 and Glafcos-1 in Cyprus’ Exclusive Economic Zone (EEZ).

Source: neweurope.eu

Zeebrugge LNG schedules Yamal transshipment, Qatari cargoes

12/08/2019 08:54:00

The Fluxys-operated Zeebrugge liquefied natural gas terminal in Belgium is set to receive a couple of Qatari cargoes and could accommodate a Yamal LNG cargo transshipment.

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Daily (09.08.2019): Oil prices rebounded by nearly 3% on Thursday, due to a firmer yuan and hopes for additional OPEC output cuts

09/08/2019 11:15:00

Oil prices strengthened on Thursday, rebounding from an earlier low, after Saudi Arabia showed readiness to discuss with other producers about the recent slump in crude prices. The prospect of additional output cuts from OPEC, coupled with a steadying yuan, supported prices. As a result, Brent crude rose by 2.1% to $57.38 a barrel. At the same time, WTI futures spiked by 2.8% to $52.54 a barrel, boosted by a fall in inventories at Cushing, Oklahoma, in the week to August 6.

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Belarus and Russia authorize 3.7% increase in oil transportation tariff as from 1 September

09/08/2019 08:53:00

Belarus and Russia have come to an agreement on raising the tariff on transporting oil across the Belarusian territory by 3.7% as from 1 September, the press service of the Belarusian state petrochemical concern Belneftekhim told BelTa after negotiations on 6 August.

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