Chevron is nearing a final greenlight on the expansion of Israel's Leviathan Gas Field
Chevron said that it is close to making a final decision on a possible capacity expansion for the Leviathan field, located off Israel's Mediterranean Coast. NewMed, Chevron’s partner in this field, said that in August partners in the Leviathan gas field signed a $35 billion deal, the largest in Israel’s history for gas exports to Egypt. This was mainly done via new pipelines.
Energean CEO: New $400 million Israel to Cyprus gas pipeline is awaiting approval from government
The head of Eastern Mediterranean gas producer Energean said on Tuesday that a $400 million pipeline will transport natural gas between Israel and Cyprus. Israel has also expressed its support. Energean signed on Monday a letter-of-intent with Cyfield, the leading Cypriot energy and industrial group, for…
$400m Natural Gas Pipeline Between Israel and Cyprus Awaits Government Approval
A $400 million pipeline to transport natural gas from Israel to Cyprus is awaiting government approval from both countries and Israel has expressed support, the head of Eastern Mediterranean focused gas producer Energean told Reuters on Tuesday.Energean on Monday signed a letter of intent with leading Cypriot…
Energean, a UK-based company, signs a 15-year contract for the transmission of Israeli gas
Energean, a British gas producer, announced on Friday that it had signed 15-year contracts for the planned Nitzana gas pipeline from Israel to Egypt. The agreement was part of a $4 billion contract with Israel. Energean reported that the deal with Israel Natural Gas Lines, a state-owned pipeline operator…
Renewing gas flows prevents a new energy crisis in rebel area of Moldova
The head of Moldova's largest energy firm said that gas will be re-routed to the separatist Transdniestria Region. This will prevent a repeat crisis of severe power and heat shortages in the region last January. This will allow the supply of hot water to resume and prepare for the start of winter heating season.
Australia Gas Market Interventions Fail, Regulator Finds
The Australian Competition and Consumer Commission said that the government's recent efforts to increase gas supplies and lower prices in Australia have largely been unsuccessful and could even be increasing the risk of shortage, according to the regulator. In a recent report, the Australian Competition and Consumer Commission (ACCC)…
Sources say that the German Economy Ministry is open to the idea of a SEFE-Uniper tie-up.
According to two sources familiar with the situation, the German economy ministry, which is responsible for the ownership of former SEFE Gazprom, would be open to combining the company with a bailed-out Uniper. Deliberations about a partial merger are taking place as the German government, which owns both…
Chevron, Israel Natural Gas Lines to Begin Construction of Gas Pipeline to Egypt
Chevron has signed a deal with state-owned pipeline operator Israel Natural Gas Lines to kickstart construction of the Nitzana natural gas pipeline to transport gas from the Leviathan gasfield to Egypt, the U.S. company said on Tuesday.Nitzana would ease an energy crisis in Egypt, which has spent billions…
Chevron and Israeli pipeline operator will launch new gas pipeline towards Egypt
Chevron announced on Tuesday that it had signed a contract with Israel's pipeline operator, a state-owned company, to begin construction of the Nitzana pipeline. The pipeline will transport gas from Leviathan to Egypt. Nitzana will ease Egypt's energy crisis. Egypt has spent billions on the importation of liquefied gas.
ExxonMobil is considering selling European chemical plants to FT, reports
The Financial Times reported that ExxonMobil was looking to sell its European chemical plants located in the UK, and Belgium, as the industry struggles with the impact of U.S. Tariffs and the competition from China. In recent weeks, the U.S. energy company has been in early discussions with advisors about possible sales that could bring up to $1 billion.
VCI: German chemical industry runs at its lowest capacity for more than 30 Years
The German Chemical Industry Association said Wednesday that its capacity utilization in the second quarter was at its lowest level for more than 30 year as sales and prices fell due to uncertainty surrounding U.S. Tariffs. VCI reported that the German chemical industry only operated at 72% of full capacity in the period April-June…
As the price cap increases by 2%, millions of Britons will see their energy bills increase.
After Ofgem raised its price cap to 2% in October, millions of British households who are already struggling with tight budgets will be faced with higher energy bills. This is despite the fact that the government is trying to reduce energy costs. The regulator, which is a non-ministerial department of the government…
Leviathan Natural Gas Field Signs $35b Supply Deal With Egypt
Israel's Leviathan natural gas field has signed the largest export agreement in the country's history, worth up to $35 billion to supply gas to Egypt, NewMed, one of the partners in the field, said on Thursday.The deal should ease an energy crisis in Egypt, which has spent billions of dollars on importing…
Germany wants to reduce its dependence on China for wind energy components
Germany's Economy Ministry published plans Tuesday to diversify sourcing of key components used in offshore wind turbines mainly by 2035, to reduce dependence on China. The government is implementing a "de-risking strategy" amid the geopolitical tensions between China and the United States, as well as after…
SEFE signs 3-year contract with ADNOC for LNG supply
SEFE, a German company, has signed a deal with ADNOC of the United Arab Emirates for liquefied gas. Deliveries are expected to start in 2025. After the Russian invasion of Ukraine, SEFE (Securing Energy for Europe), a state-owned company, seeks long-term supply agreements after losing most its Russian pipeline gas supplies in 2022.
EBRD lends Moldova 400 million euros for energy security
The European Bank for Reconstruction and Development announced on Tuesday a 400 million euro loan ($468 million) to the state-owned energy company Energocom of Moldova for purchasing gas and electricity on European markets in order to increase energy security for the country. This follows the decision of Russian energy giant Gazprom…
Germany reduces its gas security alert as supply bottlenecks ease
Katherina Reiche, Germany's Economy Minister, said that the German government had lowered its gas supply security grade to an early warning level from alarm as supply bottlenecks have eased. Berlin declared alert in June 2022 after Russia's invasion. There was a sudden decrease in the imports of gas from Moscow.
NextEra CEO: Renewables are needed to bridge the gap between expanding gas power and increasing renewables
NextEra CEO John Ketchum said on Tuesday that renewable energy sources such as wind and solar power will be needed to meet the rapidly increasing energy demand in America, despite near-term challenges to increasing natural gas capacities. At the Politico Energy Summit, the head of Florida's power producer…
Metal industry group claims that new EU State Aid rules do not help
A metals industry group wrote a letter to the European Commission on Friday, saying that plans to overhaul state aid rules ignore heavy industry, which is critical for processing energy transition metals. They fail to mitigate energy costs, while green rules may penalise them. After a public hearing on its proposal from February…
Sources say Egypt is in talks with suppliers to purchase 40-60 LNG cargoes during this year due to the energy crisis.
Three sources familiar with the matter said that Egypt is in discussions with international energy companies and trading houses about buying 40-60 cargoes (LNG) of liquefied gas to ensure emergency fuel imports ahead of summer peak demand amid an worsening energy crisis. According to the latest available data from the Joint Organisations Data Initiative…