Tag: Cyprus
Egypt, Cyprus sign MoU to connect electricity grids via subsea cable
Egypt and Cyprus signed yesterday an MoU that would see them connect their electricity grids, Reuters reports. "Fortifying our electricity grids and allowing the further integration of renewables in our respective energy mix, enhancing the security of our energy supply and enabling us to become exporters of energy, are but a few of the tangible benefits," Cyprus […]
Eastern Mediterranean Gas Forum to come into effect March 1st
Posted: February 15, 2021 at 11:18 pm / Oil & Gas
The Eastern Mediterranean Gas Forum will come into force on 1 March, the foreign ministers of Egypt, Greece and Cyprus announced in a joint statement last week. Speaking on the sidelines of a regional forum in Greece, the three ministers said that the organization's charter, signed in September, will be activated next month and officially […]
Egypt in talks with investors, traders to develop EuroAfrica electricity link
Posted: September 8, 2020 at 1:25 pm / Electricity & Power
SFE in talks with investors, energy traders to develop EuroAfrica electricity link: The Sovereign Fund of Egypt (SFE) has opened talks with European infrastructure investors and energy traders to join it in investing in the EuroAfrica transmission link and import electricity from Egypt, CEO Ayman Soliman tells Bloomberg. Egypt signed on to the USD 4 […]
Egypt and Cyprus are in "extensive discussion" on planned gas pipeline
Posted: September 1, 2020 at 12:41 pm / Oil & Gas
Egypt, Cyprus talking 'extensively' about moving ahead with gas pipeline: Egyptian and Cypriot officials are in "extensive discussions" on a planned natural gas pipeline linking the two countries, Al Mal reports, citing an unnamed government official. The construction of the pipeline is proceeding according to schedule despite the covid-19 pandemic, the official said, without mentioning […]
EuroAfrica Interconnector Project launches tender for Cabling Contract
Posted: April 6, 2020 at 7:16 pm / Electricity & Power
EuroAfrica Interconnector Seeks Cabling Contractor: EuroAfrica Interconnector project has launched a tender call for the engineering, procurement, construction and installation of the HVDC cable system between Egypt and Cyprus. EuroAfrica Interconnector, as the official project promoter and developer, will finance the construction of the electricity interconnection between Egypt, Cyprus, Crete and Attica with the financial […]
Infographic: East Med gas; monetization efforts pick up amid regional standoff – S&P Global Platts
Posted: March 8, 2020 at 1:38 pm / Oil & Gas
The East Mediterranean is home to numerous major gas finds, with key players seeking routes to market via gas pipeline pacts and establishment of the East Mediterranean Gas Forum (EMGF). Tensions in the region are increasing, however, as Turkey moves to drill in blocks licensed by Cyprus and the EU imposes sanctions against Turkey's TPAO […]
Italy's Eni says it does not want "gas well war" offshore Cyprus
Posted: October 19, 2019 at 4:15 pm / Oil & Gas
The head of Italy's Eni said Thursday the oil and gas group would not drill off Cyprus should a row with Turkey over sizeable natural gas deposits see either side send in warships. "I am not worried… (but) if someone turns up with warships, I won't drill wells," Claudio Descalzi said. "I certainly don't want […]
Egypt, Cyprus gas infrastructure has "significant potential" to draw capital
Egypt and Cyprus' gas infrastructure has "significant potential" to draw in capital as part of a drive from Cyprus-based investment firm Cynergy Group to raise a total of USD 10 billion to "consolidate Eastern Mediterranean gas assets," Cynergy co-founder Mike Germanos tells the National. Cynergy is "setting its sights on Gulf sovereign wealth funds to […]
Global investment firms interested in funding Cyprus-Egypt gas pipeline
Four financial firms in contact with Cyprus govt on pipeline. Pipe would transport Cyprus gas to Shell's LNG plant in Egypt. Four major investment firms expressed interest in financing the construction of a pipeline that would transport natural gas from Cyprus to Egypt, according to a Cypriot official involved in the country's energy sector. The […]
Egypt, Cyprus, Greece to establish an East Mediterranean Gas Forum
The leaders of Egypt, Greece, and Cyprus agreed yesterday to establish an East Mediterranean Gas Forum, Ittihadiya said. The forum — which will be headquartered in Cairo — will include among its members all countries that produce and import EastMed gas and work to closely coordinate the region's policies on gas exploration and management to […]