Τρίτη 26 Σεπτεμβρίου 2017
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Greek Energy Forum Newsletter, 21st August 2017

 

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Greek Energy Forum Newsletter, 21st August 2017

Greek-Israeli partnership in the East Med has taken another step forward recently. A plan submitted by Greece's Energean Oil & Gas, to Israeli authorities for the development of the Karish and Tanin offshore natural gas fields has been approved by a special state committee. Based on the plan submitted by Energean Oil & Gas, the Karish offshore gas field will be developed first, while Tanin will follow, depending on overall gas demand and the progress of development at the Karish field. It is estimated that the two gas fields possess 55 billion cubic meters of natural gas, while production is expected to commence in 2020 (energypress).

The Greek oil and gas company has also reached three gas sale agreements in the Israeli market. Ofer’s ORL, a refinery, IC, a chemical industry, and power producer OPC stand to be supplied 39 billion cubic meters of gas supply over a 15-year period, according to the agreements.

In the meantime, important milestones were reached in Greecei itself with the official announcement of a new offshore oil and gas bidding round and with the submission of new offers for a 66% stake at DESFA.

Happy reading!!!

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Policy & Regulation

EU, Switzerland to link emissions cap and trade systems

The European Commission adopted two proposals to finalise an agreement with Switzerland on linking the Emissions Trading System (EU ETS) with the Swiss emissions trading system. Linking the European system with other systems expands opportunities for emissions reductions and reduces costs, the Commission said, adding that once the agreement with Switzerland takes effect, participants in the EU ETS will be able to use units from the Swiss system for compliance, and vice versa. (New Europe)

New EU rules for lower power plant emissions take effect

New tighter standards with regards to the bloc’s most polluting power plants published by the European Commission on Thursday, 17th of August. There is a given time of four years to meet the lower emission standards. (Euractiv)

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Oil & Gas

Major players meet DESFA sale’s first-round deadline

In the new international tender offering 66 percent of DESFA, Greece’s natural gas grid operator, two major consortiums participated: one made up of Italy’s Snam, Spain’s Enagas, Belgium’s Fluxys and Dutch operator Gasunie, the other including Romania’s Transgas and France’s GRTgaz. (energypress)

Crete, Ionian oil exploration tender officially announced

Greek authorities have officially announced an international tender offering exploration and exploitation licenses for offshore blocks west and southwest of Crete. The tender was prompted by investment interest expressed in the aforementioned areas by a consortium comprised of ExxonMobil, Total and ELPE (Hellenic Petroleum). (energypress)

Energean reaches triple gas supply deal for Israeli market

The Energean Oil & Gas subsidiary Energean Israel, also involving the investment group Kerogen Capital, has signed a memorandum of cooperation for natural gas supply from the Karish and Tanin fields, offshore Israel with three enterprises controlled by Israeli entrepreneur Idan Ofer. Ofer’s ORL, a refinery, IC, a chemical industry, and power producer OPC stand to be supplied 39 billion cubic meters of gas supply over a 15-year period, according to the agreement. (energypress)

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Power Markets

Island interconnections to slash public service expenses

RAE’s proposal for the replacement of the public service compensation (YKO), currently added on consumers’ electricity bills, with a special consumption tax in order to fund social energy policy is yet to be approved by the European Commission and the Greek government. However these costs could be reduced by up to 75% with the development and completion of interconnection projects for lower-cost electricity supply to its numerous islands. (energypress)

Mytilineos pessimistic on PPC units sale, also supportive

Evangelos Mytilineos, CEO of the Mytilineos group with significant presence in the Greek energy market, claimed that the sale plan regarding PPC’s production units is likely to be unsuccessful considering it excludes hydropower units. Mr Mytilineos however noted that a strong PPC and market liberalization are vital for a healthy energy market in Greece. (energypress)

Environmental upgrades will need to follow PPC unit sales

PPC will need to invest in certain lignite fired units that remain under its control in order to comply with tougher emission standards (NOx and SO2) imposed a while ago by the European Commission. Furthermore some units may need to be withdrawn from the sale list as they do not have the equipment required to meet these stricter environmental standards. (energypress)

Big decisions for Larco this fall, Glencore seems reinterested

Glencore, a Swiss based multinational trading and mining house, seems to have revived its investment interest in Larco following a sharp rise in global nickel prices. This came as a response to increasing investment and policy support for electric vehicles and energy storage that is expected to boost demand for several minerals worldwide including nickel. (energypress)

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Renewables

EBRD, Green Climate Fund back Egyptian renewable energy project

The EBRD and the Green Climate Fund (GCF) are teaming up to make a major contribution to a $1 billion renewable energy project in Egypt. According to the Bank, the funding supports the Egyptian government’s Sustainable Energy Strategy, which aims to source 20% of Egypt’s energy from low-emission renewable sources by 2022. The financing will allow independent power producers to invest in the first wave of private renewable energy production in Egypt. (New Europe)

Trends in electricity prices in Europe: expect more volatility

In accordance with the power price scenario EU Energy Outlook 2050, released by Energy Brainpool, electricity prices in Europe will become volatile, variable renewable energy will grow but will still be supplemented significantly by conventional power plants. (energy post)

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Shipping

Global bunker fuel supplier Aegean Marine focuses on four-pronged growth strategy

Global bunker supplier Aegean Marine Petroleum Network’s new leadership team is pursuing four main strategic initiatives — rationalizing the company’s global platform for asset optimization, executing cost saving initiatives, capitalizing on key business development projects, and generating new revenue streams — to grow the business amid challenging market conditions, the company said during its second-quarter earnings call. (Hellenic Shipping News)

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Energy Union Future Leaders

Under the auspices of Maroš Šefčovič, Vice-President, Energy Union, European Commission

Brought to you by the Greek Energy Forum and the Energy & Environmental Policy Laboratory of the University of Piraeus

Athens, Greece - tbc. 2017

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GEF Elections Announcement

According to the Law and the Constitution of the Organisation, regular members which have paid their membership fee and are in good standing by 22/08/2017 are invited to an election General Assembly, which will be held on 03/09/2017, on Sunday at Greece time 13:00, via teleconference, in order to decide on the following agenda items:

AGENDA:

Brief presentation and approval of the delivered actions of the outgoing interim Management Committee

and brief presentation of the overall achievements of the Organisation, since its founding and until 22/08/2017.

Presentation and approval of existing financial statements and items.

Election of the new Management Committee

Release of the members of the outgoing Management Committee from any liability

We would like to inform you that due to problems of technical nature, the submission deadline for candidacies for a post in the new Management Committee – as per the email notification publicly communicated on 10/06/2017 – is now extended. The new deadline is 30/07/2017.

Nannuka UK - Discount for GEF members

We are delighted to introduce to you Nannuka UK, a Greek company that specialises in connecting parents with childcare providers now expanding its services in London.

We have secured a special 20% discount for Nannuka’s Premium Package exclusively for GEF members.

Please check our Member section for the promo code to claim the discount.

Knowledge Partnership with Natural Gas World

The GEF is happy to announce the commencement of an exciting knowledge partnership with Natural Gas World. Natural Gas World is an independent specialized website dedicated to bringing you the most essential, accurate and reliable information on global gas matters.

GEF Internship Programme Launched

The Greek Energy Forum is delighted to announce the launch of the Internships Programme and would like to invite students and recent graduates to submit their CVs as a range of internships across Europe will be soon available in our partner companies as well as within GEF.

Please send your CV and cover letter to info@greekenergyforum.com quoting “Internship Programme - CV” on the subject, and include your availability to start, current location and flexibility to travel and preferred type of employment (part-time/full-time).


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The Greek Energy Forum newsletter is brought to you by our team of subject experts: Martha Tallas (Oil & Gas), Loukas Botsis (Gas & Power), Athina Sylaidy (Enviroment & EU Policy), Kassiani Savvopoulou (Shipping). We are always keen to receive your feedback, so please do not hesitate to contact us at info@greekenergyforum.com.

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