Mediterranean News

 

Turkish Seismic Vessel to Extend Stay in Disputed Waters in Mediterranean

Aug 24, 2020

Turkey said on Sunday that its Oruc Reis exploration vessel will now carry out seismic surveys in a disputed part of the eastern Mediterranean until Aug. 27, in a move likely to stoke tensions in the region.Turkey and Greece, NATO allies, vehemently…

Opinion: Turkey-Greece Conflict in Mediterranean Might Not be About Gas (Only)

Aug 21, 2020

The worsening stand-off in the eastern Mediterranean, frequently described as a gas conflict, has been gaining momentum. It may seem a strange time to be fighting over gas when prices remain in a slump due to weak demand and investors withdrawing…

Erdogan: No threats can Deter Turkey's Exploration in Mediterranean

Aug 19, 2020

No threats can deter Turkey from seeking natural resources in the eastern Mediterranean, President Tayyip Erdogan said on Wednesday, adding that Ankara expects actors in the region to take steps to de-escalate tensions.Greece and Cyprus are…

Cyprus: EU 'Appeasement' of Turkey in Exploration Dispute will Go Nowhere

Aug 17, 2020

Cyprus on Monday criticized European Union partners over what it said was diffidence amounting to 'a policy of appeasement' in dealing with Turkey, locked in a stand-off with Cyprus and Greece over energy exploration in the eastern Mediterranean…

Greek, Turkish Warships in 'Mini-Collision' Amid Mediterranean Exploration Dispute

Aug 14, 2020

A Greek and a Turkish warship were involved in a mini-collision on Wednesday during a standoff in the eastern Mediterranean, a Greek defense source said, describing it as an 'accident'.Tensions have risen this week after Turkey sent a survey vessel to the region…

France to Increase Mediterranean Military Presence over Turkish Oil & Gas Exploration

Aug 13, 2020

France will increase its military presence in the eastern Mediterranean, President Emmanuel Macron said on Wednesday, calling on Turkey to halt oil and gas exploration in disputed waters that has heightened tensions with Greece.The French leader…

Delek Sells $2.25B of Bonds to Finance Leviathan Gas Field

Aug 05, 2020

Israel's Delek Drilling said on Wednesday it will pay an average interest of 6.28% in a $2.25 billion international bond offering to help it finance the development of the Leviathan natural gas project off Israel's Mediterranean coast.Following a roadshow…

Egypt Says Turkish Seismic Survey Plans Could Encroach on Its Waters

Aug 03, 2020

Egypt said on Saturday that part of a seismic survey planned by Turkey in the eastern Mediterranean potentially encroached on waters where Cairo claims exclusive rights.An advisory issued last month by Turkey for the survey overlaps with Egypt's exclusive economic zone (EEZ)…

Spain Hopes Turkey Overture on Offshore Drilling Leads to Talks

Jul 28, 2020

Spanish Foreign Minister Arancha Gonzalez Laya said on Tuesday she hopes the will shown by Turkey to open a dialogue on oil drilling in the Eastern Mediterranean will be followed by action.Turkey is at loggerheads with Greece and Cyprus over overlapping claims for offshore reserves…

Eni Makes Gas Discovery Offshore Egypt

Jul 28, 2020

Italian oil and gas giant Eni, along with partners Total and BP, has made a gas discovery in the Mediterranean Sea, offshore Egypt.The discovery was made at the Bashrush well on the Eni-operated North El Hammad license, located eleven kilometers off the Egyptian coast…

Spain Sees Thaw in Europe-Turkey Tensions on Mediterranean Offshore Exploration

Jul 28, 2020

Spain's foreign minister said that talks in Turkey on Monday had helped to reduce tensions between some European Union members and Ankara over Turkish energy exploration in the Mediterranean, adding that a one-month pause in drilling was possible…

Delek to Sell $2.25B of Bonds to Finance Leviathan Gas Field

Jul 27, 2020

Israel's Delek Drilling plans to raise $2.25 billion in an international bond offering to help it finance the development of the Leviathan natural gas project off Israel's Mediterranean coast.The issue, expected to be completed in coming weeks…

Israel: Tamar Offshore Gas Field to Start Paying Taxes on Profit in 2021

Jul 23, 2020

Delek Drilling said on Wednesday the partners in the Tamar natural gas site will start paying taxes on profit in early 2021, which could help Israel move forward with plans to create a sovereign wealth fund.Prime Minister Benjamin Netanyahu…

Eni Strikes Gas at Bashrush Well Offshore Egypt

Jul 01, 2020

Italian energy company Eni has made a gas discovery with the first exploration well in the North El Hammad license, waters of the Nile Delta, on the prospect called Bashrush.The new discovery is located in 22 meters of water depth, 11 km from…

Delek Drilling Looks to Refinance $2 Billion in Debt

Jun 29, 2020

Israel's Delek Drilling wants to refinance about $2 billion in loans it had taken to develop the major Leviathan natural gas field either by issuing bonds or through bank finance.The company said in a statement on Monday it approached international…

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