Peter Stevenson
Journalist at MEES - Weekly Oil & Gas News Analysis
East Med journalist @ MEES (Middle East Economic Survey). Unapologetic Liverpool fan (also Seattle Seahawks). Views are my own.
Articles
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1 week ago |
mees.com | Peter Stevenson
The perils of Egypt’s dependence on gas imports were painfully exposed this week, when Israel halted gas exports on the morning of 13 June in anticipation of Iran’s response to its airstrikes (MEES, 13 June). Egypt’s gas balances were already stretched amid delays in installing two new floating storage and regasification units (FSRUs), and Cairo has scrambled to secure additional fuel oil supplies for later this summer in order to build up strategic reserves.
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1 week ago |
mees.com | Peter Stevenson
Norwegian renewables firm Scatec is progressing both wind and solar projects across Egypt. On 15 June it announced plans to build a 900MW onshore wind project at Ras Shukeir on the Gulf of Suez and also said it has reached financial close of the 1.1GW ‘Obelisk’ solar project in southern Egypt, where it began construction in May (MEES, 9 May).
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1 week ago |
mees.com | Peter Stevenson
In a calculated move on the morning of 13 June, Israel took offline the 1.1bn cfd Leviathan field and the 500mn cfd Karish for precautionary reasons, as it launched its first wave of attacks on Iran (MEES, 13 June). This left only the 1.0bn cfd Tamar field operational. MEES understands that Tamar output is now at record levels, with all of its production supplying the domestic market for the first week of the conflict.
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2 weeks ago |
mees.com | Peter Stevenson
Egyptians woke on 13 June to the prospect that they could be faced with painful blackouts over the coming weeks as Israel and Iran exchanged blows (MEES, 13 June). Israel typically supplies Egypt with around 1bn cfd of gas, but this is due to drop as the Chevron-operated 1.1bn cfd Leviathan and Greek firm Energean’s 500mn cfd Karish, both located offshore northern Israel, have been taken offline.
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2 weeks ago |
mees.com | Peter Stevenson
Egypt’s economy continues to fall under the IMF’s spotlight with the ongoing fifth review as part of an $8bn loan deal agreed in March last year (MEES, 8 March 2024). Authorities were in Cairo between 6-18 May and “held productive discussions with the Egyptian authorities on their economic and financial policies,” IMF communications director Julie Kozack said in a 12 June briefing. Discussions are continuing virtually Ms Kozack says.
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