VISIT US AT
2A20
HALL 2
Official Publication
11-13 February 2019
Egypt International Exhibition Centre
Supported By
SHOW DAILY
DAY 3
ENERGY SUPPLIES AND ENERGY MIX UNDER THE SPOTLIGHT AT THE EGYPT PETROLEUM SHOW’S STRATEGIC CONFERENCE
The second and final day of the EGYPS Strategic Conference witnessed a number of relevant discussions on the region’s oil and gas dynamics, including the successful alliance of North Africa and the Mediterranean countries to boost production to achieve mutual goals. Keith Elliott, Senior Vice President Offshore at Noble Energy, reviewed recent changes, pointing out "a lot has happened since we met last year [at EGYPS 2018] and agreed to import meaningful and very significant quantities of gas into Egypt from neighbouring countries, and that provides the opportunity to realise the vision of the hub. Equally important, we created a pathway for that gas to move in by entering into agreements to acquire a pipeline excellency." Panelists also tackled ways of reaching a Euro-Mediterranean cooperation era in order to develop the energy potential of the region and to fast-track oil and natural gas discoveries to make sure of
having regional domestic supply and ensure international exports. "People talk about major gas discoveries in the area, but I think we have more gas to discover," Mathios Rigas, CEO of Energean, noted, signifying a more flourishing gas future to tap into. Mahdjouba Belaifa, Head Gas Market Analysis Department (GMAD) at the Gas Exporting Countries Forum Secretariat (GECF), commented on the Euro Mediterranean relations saying "if we look at the two sides of the equation, we have to look at the bottom shelf and the assets of the Mediterranean and North African region, and on the other side of the equation we need to look at the European market behaviour."
Aspiring Excellence through Innovation
"However, we have to bear in mind that the region still needs to satisfy its own energy requirements, so if we know that 47% of its consumption has been satisfied through imports, the first challenge for the region is to satisfy local market demand," Belaifa added. Continued on page 1
dragonoil.com
dragonoil.com