Middle East

ConocoPhillips, QatarEnergy to Supply Germany with LNG Starting in 2026

Germany is set to receive new flows of Qatari LNG from 2026 after QatarEnergy and ConocoPhillips on Tuesday signed two sales and purchase agreements for its export covering at least a 15-year period.

Israel's NewMed Energy Leaning Towards Floating LNG Expansion

Israel's NewMed Energy said on Thursday it was leaning towards building a floating liquefied national gas terminal to further develop its Leviathan gas field off Israel's Mediterranean coast.

Qatar Signs 27-Year Deal with China as LNG Competition Heats Up

QatarEnergy has signed a 27-year deal to supply China's Sinopec with LNG, the longest such LNG agreement so far as volatile markets drive buyers to seek long-term deals.

Two New Natural Gas Reservoirs Discovered in Bahrain

Bahrain has announced two natural gas discoveries in the Al-Joubah and Al-Jawf reservoirs, state news agency BNA said on Tuesday.

Israel, Lebanon Set Maritime Boundaries on Path to Offshore Production

Lebanon and Israel have finalized a U.S.-brokered deal that sets maritime boundaries for the first time, clearing a path for more offshore gas production and infrastructure development in the Eastern Mediterranean.

QatarEnergy Expanding in LNG, Won't Divert Supplies to Europe

QatarEnergy is working to expand its gas production and trading operations as global demand surges and will not divert LNG contracted with Asian buyers to Europe this winter, CEO Saad al-Kaabi said on Tuesday.

NPCC to Build $548 Million Pipeline Offshore Abu Dhabi

Abu Dhabi National Oil Company has awarded a $548 million contract to National Petroleum Construction Company (NPCC) to build a new 85-km (53-mile) gas pipeline at its Lower Zakum field offshore of Abu Dhabi.

Kazakhstan Plans to Sell Crude Oil Via Azeri Pipeline to Bypass Russia

Kazakhstan is expected to sell some of its crude oil through Azerbaijan's biggest oil pipeline from September, as the nation seeks alternatives to a route Russia threatened to shut, three sources familiar with the matter said.

Shell Joins Qatar's LNG Expansion Mega-Project

QatarEnergy on Tuesday signed a deal with Shell for the Gulf state's North Field East expansion, the first phase of the world's largest LNG project, following agreements with TotalEnergies, Exxon, ConocoPhillips and Eni.

Exxon Joins Oil Majors Eni, Conoco in Qatar's Mega-LNG Expansion Project

QatarEnergy on Tuesday signed a deal with Exxon Mobil Corp. for the Gulf state's North Field East expansion, the world's largest LNG project, following agreements with TotalEnergies, Eni and ConocoPhillips.

ConocoPhillips Earns Stake in Qatar’s $30 Billion LNG Expansion Project

ConocoPhillips has signed a deal with QatarEnergy on Monday for a 3.12% stake in the North Field East expansion project, the world's largest LNG project, following agreements with TotalEnergies and Eni.

Lebanon, Egypt to Finalize Gas Import Deal on June 21

Lebanon will sign a "final" agreement to import gas from Egypt on June 21, its energy ministry told Reuters, after months of delays to a plan viewed as critical to boosting power supplies for Lebanon's stricken economy.

Qatar Advances Talks with China Over Investment in Gas Field Expansion Project

China's national oil majors are in advanced talks with Qatar to invest in the North Field East expansion of the world's largest LNG project and buy the fuel under long-term contracts, Reuters reported on Friday.

US Envoy Expected to Visit Beirut Next Week Over Israel Gas Dispute

A U.S. mediator will visit Beirut next week to discuss a dispute over a maritime border with Israel, Lebanese Parliament Speaker Nabih Berri said on Tuesday, according to a parliament source and local media.

Qatar to Select Exxon, Total for Mega-LNG Expansion Project

Exxon Mobil Corp. and TotalEnergies are expected to be awarded with a piece of the $30 billion-dollar LNG expansion project in Qatar, which will strengthen the country's position as the world's top exporter of the super-chilled fuel.

Iran Seizes Two Greek Tankers amid Row over US Oil Grab

Iranian forces seized two Greek tankers in the Gulf on Friday, shortly after Tehran warned it would take "punitive action" against Athens over the confiscation of Iranian oil by the U.S. from a tanker held off the Greek coast.

Iran to Revive Gas Pipeline Project to Oman

Iran's oil minister has agreed to revive a long-stalled project to lay an undersea pipeline to carry gas to Oman. The pipeline, which has been in the works since 2013, was delayed due to price disagreements and U.S. pressure on Oman to find other suppliers.

Germany, Qatar Sign Energy Partnership Agreement Focused on Gas

Germany and Qatar have signed a declaration to deepen their energy partnership, with a focus on trade in hydrogen and LNG, as Europe's biggest economy looks for alternative supplies amid Russia's invasion of Ukraine.

Israel Ramping Up Gas Output, Looks to Help Supply Europe

Israel is boosting offshore natural gas output and aims to reach a supply agreement with Europe in the coming months as the continent looks to replace Russian supply.

Petronet In Talks with Qatar for LNG Deal Renewal amid Turbulent Markets

India's Petronet LNG has begun talks with Qatar to renew a multiyear gas deal despite market "turbulence", making new long-term contracts difficult as sanctions on Russian fuel have squeezed an already tightly supplied market.

Turkey Says Gas Pipeline with Israel Not Possible in Short Term

A potential gas pipeline project between Turkey and Israel is not possible in the short-term and building an alternative system to cut dependence on Russia will not happen quickly, Turkish Foreign Minister Mevlut Cavusoglu said.

Germany, Qatar Discuss Long-Term Gas Deal to Reduce Russian Dependence

Germany and Qatar are negotiating a long-term energy partnership, government officials from both sides said Sunday, as Europe's biggest economy seeks to become less dependent on Russian energy sources.

Energean Enters Israeli Gas Purchase Agreement with IEC

Starting with the commencement of first gas production from Karish, the agreement will be valid for an initial one-year period with an option to extend subject to ratification by both parties.

Qatar: 'Almost Impossible' to Quickly Replace Russian Gas Supplies

Neither Qatar nor any other single country has the capacity to replace Russian gas supplies to Europe with LNG in the event of disruption due to a conflict between Russia and Ukraine, Qatar's energy minister said on Tuesday.

South Korea, Iran Discuss Resuming Oil Trade

South Korea and Iran have held working-level talks on resuming imports of Iranian crude oil and unfreezing Iranian funds held in the East Asian nation, South Korea's foreign ministry said on Wednesday.

Israel Will Not Object if Exported Gas Reaches Lebanon - Minister

Israel's energy minister said on Tuesday that it would not be a problem if Israeli natural gas that is exported to Egypt makes its way to Lebanon, a long-time enemy that is dealing with an energy crisis.

UAE's Dragon Makes Oil Discovery in Gulf of Suez

United Arab Emirates-based Dragon Oil has made its first oil discovery in the Gulf of Suez, the Egyptian petroleum ministry said Tuesday.

Iraqi Court Deems Kurdish Oil and Gas Law Unconstitutional

Iraq's federal court on Tuesday deemed an oil and gas law regulating the oil industry in Iraqi Kurdistan unconstitutional, according to a document seen by Reuters.

Geopolitics, Not Fundamentals, Driving Oil Higher - UAE Minister

Tensions between Russia and the West are driving oil prices, rather than the kind of fundamental fuel shortage that would justify accelerated output increases from OPEC+, UAE energy minister Suhail al-Mazrouei said on Monday.

Global News February 2022

EIA Updates Oil Price Forecasts Through 2023, Indian Oil Investing $944 Million on Gas Sales in New Areas, Cruz’s Nord Stream 2 Sanctions Bill Fails to Pass in US Senate and more.