• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 23 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days The United States produced more crude oil than any nation, at any time.
  • 10 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days How Far Have We Really Gotten With Alternative Energy
  • 11 days e-truck insanity
  • 9 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 9 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 11 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 11 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
Southeast Asia Is Betting Big on a Green Future

Southeast Asia Is Betting Big on a Green Future

Southeast Asian countries are heavily…

Egypt Can’t Ramp Up LNG Supply To Europe Due To The Hamas-Israel War

Europe shouldn’t count on Egypt for more LNG in the short to medium term amid tight natural gas balances in the Eastern Mediterranean after the Hamas-Israel war erupted, the Oxford Institute for Energy Studies (OIES) said in a new report.

Following the Hamas attack on Israel in early October, Chevron, the operator of the Tamar gas field offshore southern Israel, shut down production at the field per instructions from the Israeli energy ministry.  

Subsequently, export flows of gas from southern Israel to Egypt through the offshore EMG pipeline were suspended, although some of those exports were re-routed through Jordan.  

“Israel’s gas exports to Egypt are part of Egypt’s supply mix and therefore support Egyptian LNG exports,” Julian Bowden, Senior Visiting Research Fellow, OIES, wrote in the report.

In the aftermath of the Hamas attack on October 7, Egypt was evaluating whether the stoppage of gas production at the Tamar field would scupper its plans to resume LNG exports to Europe as planned.

Egypt, which aims to become a regional gas hub, has been exporting LNG to Europe from its terminals on the Mediterranean with gas from domestic production and from fields offshore Israel.

However, Egypt did not export any LNG in June, August, and September, due to high domestic power demand in the summer months.

“Egyptian gas balances were already under pressure before the crisis erupted, due to falling gas production (mainly from problems at the Zohr field) and high summer demand,” Bowden noted.

“With tight gas balances and reduced imports from Israel, the prospect of the EU receiving more LNG from Egypt in the short and medium term looks unachievable,” Bowden wrote.  

In addition, the Memorandum of Understanding which Egypt, Israel, and the EU signed in June 2022 committing to higher natural gas supply, “is now probably undeliverable,” the research fellow noted.  

ADVERTISEMENT

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News