The last decade has seen the Mediterranean Sea becoming the new hotspot for gas discoveries. From the giant Leviathan and Tamar field discoveries offshore Israel in 2009, through Zohr field find in Egypt in 2015 to this year’s vast exploration and prospects near Cyprus – the region has seen remarkable levels of activity. The significance of these and other discoveries in the Mediterranean and the favourable geographical location of all, make the region a perfect place for the new global gas hub with competitive gas-export infrastructure possibilities.
The existing LNG export facilities in Idku and Damietta can be expanded further when the LNG export capacity in the region increases allowing for efficient supply not only to Europe but worldwide. Recognising the vast opportunities, in September this year, the energy ministers of Cyprus, Egypt, Greece and Jordan signed a charter to establish the East Mediterranean Gas Organization. “Today is an historic moment,” Egypt’s oil minister, Tarek el-Molla, said. “Once the organization is up and running, we will soon see important projects that add value to all our countries.”1
Not only is the Mediterranean a hotspot in terms of resources available, the projects in this region are bound to make history. The Zohr field development by ENI was completed in just over two years making it a record for this type of deposit. The deal signed between Israel and Egypt regarding delivery of gas to feed Egypt’s domestic network is the first deal of its kind and scope since 1979 Egypt-Israel Peace Treaty2.
WAVE-4 on board Excelerate Energy vessel (credit: ExcelerateEnergy)
Gas is bound to play an important role in the energy transition across Europe, supporting the growth of renewables. It is recognized as a worthy investment and sees increased interest from more international players (note Chevron’s recent acquisition of Noble Energy operating the Leviathan field – Israel’s biggest gas find).
At Reflex Marine, we are proud to be able to support this quickly growing industry both globally and in the region. The WAVE-4 personnel transfer carrier was chosen by LNG vessel operators such as MOL LNG and FLNG operators Excelerate Energy for their operations in various locations around the world. In the Mediterranean, our crew transfer solutions are used among others: during the development of the Zohr field (FROG-XT6 carrier was used on a rental basis on this and other Egyptian projects), for regular crew transfer changes in the Adriatic LNG Terminal in Italy (FROG-XT60 and for safe crew access in Port Akdeniz in Turkey (FROG-XT4 and WAVE-4).
Our commitment to support the LNG industry has also encouraged us to develop the latest FROG-XT2 carrier with the smallest footprint of any rigid personnel transfer carrier on the market and highest-standard of safety. Learn more about FROG-XT2 here.
References:
2 https://www.bruegel.org/2020/02/eastern-mediterranean-gas-what-prospects-for-the-new-decade/