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Leviathan B Potential Export Routes. newmedenergy.com
BP and SOCAR are ready to invest in a gas project on the Israeli shelf
Baku/18.07.23/Turan: BP and the Azerbaijani state oil company SOCAR participated for the first time in the Israeli round of licensing of natural gas exploration, which is the latest sign of growing international interest in the Eastern Mediterranean basin, Reuters reports, citing its sources. BP and SOCAR together with Israel's NewMed Energy (NWMDp.TA) have applied for two offshore blocks as part of the fourth licensing round, which ended on Sunday.
This happened four months after BP and Abu Dhabi's state-owned oil giant Adnoc offered to jointly acquire 50% of NewMed for about $2 billion, potentially giving them access to Israel's growing energy sector.
The gas-rich offshore basin located between Egypt, Israel, Cyprus and Lebanon has attracted the attention of some of the world's leading energy companies in recent years, especially at a time when Europe is struggling to secure supplies to replace Russian gas after Moscow's invasion of Ukraine.
NewMed is the largest shareholder in the giant Leviathan offshore field, which is managed by Chevron (CVX.N), which produces 12 billion cubic meters (bcm) of gas, which is supplied to Israel, Egypt and Jordan.
Sources report that the joint application submitted by NewMed, BP and Socar concerned blocks in the immediate vicinity of the Leviathan and Tamar fields.
BP declined to comment, and Socar did not respond to a request for comment. In the regulatory documentation, NewMed confirmed that it had submitted an application as part of a consortium with "international companies". The winners of the competition should be announced in the fourth quarter, Reuters notes.
The attempts to get comments from BP and SOCAR were futile. ---16B---
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- Politics
- 18 July 2023 14:05
Politics
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Armenia is not against the dissolution of the OSCE Minsk Group, but does not consider it appropriate to discuss this issue now. "In the context of peace, we consider it possible to make a decision on the dissolution of the OSCE Minsk Group. When peace is an established fact, the existence of such a format may raise questions," Armenian Prime Minister Nikol Pashinyan said at a press conference today. "The whole question is about the timing, we need to understand how effectively and correctly to turn such topics into a subject of discussion right now," the Armenian Prime Minister added.
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He expressed his willingness to meet with Azerbaijani President Ilham Aliyev at the border between the two countries. "A meeting with Ilham Aliyev could take place at the Armenian-Azerbaijani border. I am open to such a format," Pashinyan said at a press conference today. According to Pashinyan, Armenia recently presented another proposal for a peace treaty to Azerbaijan.
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On August 31, Azerbaijan observes a "day of silence" before the Sunday’s early parliamentary elections for the unicameral Milli Majlis. All electoral campaigning is prohibited 24 hours before the voting. The early elections were initiated by the ruling Yeni Azerbaijan Party. This decision was motivated by the overlap of the scheduled elections in November with the global UN forum - the COP20 climate conference taking place in Baku.
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On August 30, at approximately 22:55, the Armenian Nuclear Power Plant in Metsamor was disconnected from the country's power grid, as reported by the Armenian Ministry of Territorial Administration and Infrastructure. The shutdown was caused by a lightning strike, which triggered the plant's safety systems to switch the station to a safe shutdown mode. Currently, the plant's staff is working on restarting the facility.
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