Official data shows Europe’s LNG terminals are almost idle, raising questions about whether new investment is really needed.
South Korea’s gas demand and LNG imports have been in decline, and although they will continue to fall this year, demand could grow between now and the end of the decade.
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A number of IOCs have taken part in Egyptian bidding rounds since Cairo introduced new terms in 2013. (Petroceltic)
Cashed-up IOCs are taking a good look at Egypt’s first bidding round of the year after the licensing documents were released on Tuesday.
Egyptian General Petroleum Co. (EGPC) announced the round of 11 blocks last week, with five in the Gulf of Suez and six in the oil- and gas-rich Western Desert.