• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 2 hours The Political Debacle: Brexit delayed
  • 4 hours No Mercy: EU Fines Google $1.7 billion For Abusing Online Ads Market
  • 6 hours Trump sells out his base to please Wallstreet and Oil industry
  • 5 hours 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 12 hours Tidal Power Closer to Commercialisation
  • 2 hours New Rebate For EVs in Canada
  • 13 hours Will Trump Cave Again
  • 15 hours Read: OPEC THREATENED TO KILL US SHALE
  • 14 hours Solar to Become World's Largest Power Source by 2050
  • 4 hours Biomass, Ethanol No Longer Green
  • 1 hour Oil-sands recovery by solvents has started on a trial basis; first loads now shipped.
  • 20 hours Oil stocks are heating up again! What's on your Watchlist?
  • 19 hours Boeing Faces Safety Questions After Second 737 Crash In Five Months

REGULATORY ALERTS – Noble in Cyprus & Gazprom Withdraws from Greece

Noble Seals Cyprus LNG Terminal Deal

Last week, Cyprus approved a deal with Houston-based Noble Energy Inc. (NBL) and its Israeli partners (Delek Drilling LP and Avner Oil Exploration LLP) for construction of an LNG terminal on the island. We don’t have the financial details of the deal yet, but this looks good for Noble, which is riding high on major finds in Israel’s Levant Basin, with major interest in the Leviathan and Tamar fields, the latter which began producing earlier this year. Also last week, Israel made a decision on gas exports, allowing 40% of its natural gas for export, keeping the rest for domestic use.

Gazprom Withdraws from Greece Public Gas Tender

Russian Gazprom appears to have withdrawn from bidding for Greece’s Public Gas Corporation (DEPA). Bids were due on 10 June, but Gazprom’s didn’t make it, with the company later saying that the Greek government failed to offer enough incentives for the acquisition. All evidence, however, is to the contrary. Greece had met all of Gazprom’s demands for this deal as it was keen on ensuring it went through. Instead, Gazprom likely withdrew after European Commission warnings (tongue-in-cheek) that Gazprom’s attempts to acquire DEPA would violate the European Union’s energy market and competition laws.

As we noted earlier this month, a minor Russian holding was attempting to bid on DEFSA, Greece’s state-owned Gas Transmission System Operator,…




Oilprice - The No. 1 Source for Oil & Energy News