East Med Gas Developments Gather Pace In 2019

The results of two highly anticipated wells drilled in late 2018 off Egypt by Eni and off Cyprus by Exxon could have a huge bearing on the gas landscape in the East Mediterranean. MEES looks ahead to see what 2019 could hold for the region.

Eni’s 21.5tcf Zohr discovery in the Egyptian deepwater in August 2015 was a game-changer for Egypt, returning it to the realm of net gas exporter in October following three and a half years of costly imports. It also boosted the country’s gas output to a record 6.5bn cfd in September, and with Zohr due to ramp-up to reach plateau of 3.2bn cfd by the end of the year, state gas firm Egas is hopeful the country’s output will reach 7bn cfd in 12 months and 8bn cfd by 2021 ( MEES, 16 November 2018 ).

Results of Eni’s most recent Mediterranean wildcat, on the Nour prospect north of Sinai, are imminent. A large discovery here could be the next game changer for Egypt, significantly increasing exports and rekindling the restart of its two LNG export terminals at Idku and Damietta on its Mediterranean coast. Anglo-Dutch major Shell has been able to restart substantial exports from its 7.2mn t/y ELNG terminal at Idku, as October saw Egypt record its first gas surplus since 2013 ( MEES, 21 December 2018 ). (CONTINUED - 1901 WORDS)

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