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Algeria-Spain Spat Leaves 1.26GW Power Plant In Limbo
...lguera,” adding that it is now seeking “a definitive solution for all parties.” The project was originally awarded back in 2014 at a price tag of $719mn (MEES, 7 March 2014), with civil works completed by end-2016 (MEES, 15 September 2017). Satellite imagery indicates that substantial work has taken pl...
Volume: 67Issue: 26Published at Fri, 28 Jun 2024 -
Chevron Inches Towards Shale-Focused Algeria Entry
...pped to use their expertise to help Sonatrach develop Algeria’s supposedly huge shale gas reserves, which the US Geological Survey estimates at over 700tcf and Algerian officials have pegged higher still (MEES, 20 October 2017). Chevron says that “Algeria holds a world class petroleum system with th...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Powering The UAE’s Northern Emirates
...ound 14TWh over 2017-2020, it began climbing sharply in 2021 and last year’s 7% increase pushed it to a record 17.99TWh. At the same time, peak demand has also been on a sharp upwards trend, hitting 3.5GW in 2023 (see chart 2). As with elsewhere in the Gulf, demand is highly seasonal: the record of 3....
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Egypt Tenders For Bumper LNG Imports As Gas Demand Soars
...erwhelmingly gas-fed, for 95% of national power supply for 2023 (MEES, 3 May). *Egypt’s gas output fell again to just 5.115bn cfd for April, down a whopping 1.3bn cfd (20%) on end-2022 and the lowest figure since the start-up of the key Zohr field in late 2017 (MEES, 14 June), whilst the country’s di...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Egypt Drilling At 2-Year Low As Oil & Gas Output Continue Downward Spiral
...vestment (MEES, 10 May) – Egypt’s overall April output of 5.115bn cfd was the lowest since November 2017, that is to say just before Zohr start-up. *The output slump has left Egypt in acute gas deficit and the country reliant on imports from Israel (see column). As such a 10-day shutdown to 1.1bn cf...
Volume: 67Issue: 24Published at Fri, 14 Jun 2024 -
Chevron Looks To Smash Egypt’s Gas Price Ceiling
...i managed to break the price ceiling when in 2017 it secured a Brent crude-linked pricing formula for Zohr with prices rising to a ceiling price of $6.20/mn BTU when the crude benchmark is at or above $70/B. It drops to $4.30/mn BTU when Brent is at or below $40/B. The first project to secure th...
Volume: 67Issue: 23Published at Fri, 07 Jun 2024 -
Iraq’s Hoped-For Opec Quota Boost Slips Away
...ES, 10 March 2017). Even if Iraq were to succeed with this, it could backfire given that its current quota is based on state-wide production inclusive of Kurdistan, and so would be revised down in such a scenario. Last month, Oil Minister Hayan Abdulghani said that his country “was not allocated it...
Volume: 67Issue: 23Published at Fri, 07 Jun 2024 -
IEA Backs Mena Renewable Surge After Late Start
...nstruction 600MW Al Shuaibah plant holding the record of just US¢1.04/kWh since 2021 (MEES, 16 April 2021). After previous false starts, the launch of Saudi Arabia’s National Renewable Energy Program (NREP) with its first tender in 2017 laid the foundations for the kingdom’s ambitious solar and wind po...
Volume: 67Issue: 23Published at Fri, 07 Jun 2024