DOCSLIB.ORG

Final Report Pan Arab Regional Energy Trade

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

FINAL REPORT PAN ARAB REGIONAL ENERGY TRADE Intended for The World Bank Document type Final Report Date 1st of September, 2017 ANALYTICAL FOUNDATION FOR INCREASED PAN- ARAB REGIONAL GAS TRADE FINAL REPORT DISCLAIMER: The contents of this publication are the sole responsibility of Ramboll and can in no way be taken to reflect the views of the World Bank ACKNOWLEDGEMENT: Funding for this publication was provided by PPIAF. PPIAF, a multi-donor trust fund housed in the World Bank Group, provides technical assistance to governments in developing countries. PPIAF’s main goal is to create enabling environments through high-impact partnerships that facilitate private investment in infrastructure. For more information, visit www.ppiaf.org ANALYTICAL FOUNDATION FOR INCREASED PAN-ARAB REGIONAL GAS TRADE FINAL REPORT Revision Final Report Date 1st of September, 2017 Made by Bent Svensson, Søren Løvstad Christensen, Per Jørgensen, Anatoli Smirnov, Emiliano Catalini Checked by Søren Løvstad Christensen, Bent Svensson, Therese Henriksen, Andrew Somerville Approved by Per Jørgensen Description Final Report Ramboll Hannemanns Allé 53 DK-2300 Copenhagen S Denmark T +45 5161 1000 F +45 5161 1001 www.ramboll.com/oil-gas Final Report CONTENTS INTRODUCTION 10 MAIN FINDINGS AND RECOMMENDATIONS 15 EXISTING TRADE 30 OVERALL SUPPLY DEMAND BALANCE 37 SECURITY OF SUPPLY 49 BARRIERS AND OPPORTUNITIES 55 SUBSIDIES 71 VALUE OF GAS AND COST OF SUPPLY OF GAS 77 INTERNATIONAL EXPERIENCE GAS INTEGRATION 87 COUNTRY AND HUB SUMMARIES 104 Final Report TABLE OF FIGURES Figure 1: Marketed Natural Gas vs. Traded Gas MENA region ................................................ 11 Figure 2: Country price (2012-2013) vs Herfindahl index for gas sellers to each country ............ 11 Figure 3: Value of gas vs. export netback .......................................................................... 13 Figure 4: A stepwise approach to a bottom-up development of regional trade .......................... 15 Figure 5: Reserves of natural gas MENA countries and Iran .................................................. 17 Figure 6: Value of gas vs. export netback .......................................................................... 23 Figure 7: Netback value of gas in export (LNG+Pipeline), power sector (coal, HFO) ME ............. 24 Figure 8: Netback value of gas in export (LNG+Pipeline), power sector (coal, HFO) NA .............. 25 Figure 9: Import of natural gas through pipelines in the Arab countries .................................. 33 Figure 10: Inter regional LNG trade .................................................................................. 34 Figure 11: Qatar Interregional LNG export ......................................................................... 35 Figure 12: Algeria interregional LNG export........................................................................ 35 Figure 13 Applied Market Model ....................................................................................... 38 Figure 14 Adopted Methodology for gas demand assessment in the power sector ..................... 39 Figure 15: Flow diagram electrical flows ............................................................................ 40 Figure 16: Gas consumption 2020 plotted against electrical demand and electrical production costs .................................................................................................................................. 41 Figure 17: Gas demand development in power generation .................................................... 41 Figure 18: Natural Gas Consumption MENAP Region ............................................................ 43 Figure 19: Deviations in gas consumption in the power sector compared to basecase scenario.... 43 Figure 20: Gas consumption variations with respect to baseline scenario – country results ......... 44 Figure 21: N-1 calculation 2020 ....................................................................................... 50 Figure 22: Underground Gas Storage facilities in the World ................................................... 51 Figure 23: Working gas by nations > 3 bcm ....................................................................... 52 Figure 24: Seasonal consumption of gas in a Gulf country .................................................... 53 Figure 25: Current account balance as % of GDP ................................................................ 60 Figure 26: Development off installation depths for offshore pipeline ....................................... 64 Figure 27: Possible export pipeline crossing ....................................................................... 65 Figure 28: A1 Western Mediterranean Basin ....................................................................... 65 Figure 29: A1, Eastern Mediterranean Basin ....................................................................... 65 Figure 30 - B, Red Sea ................................................................................................... 66 Figure 31 C: Arabian Sea (Source: National Centres for Environmental Information (NOAA)) ...... 66 Figure 32 D: Persian and Arabian Gulf ............................................................................... 67 Figure 33: Egypt to Italy pipeline ..................................................................................... 68 Figure 34: Route point outside Libya ................................................................................. 69 Figure 35: Egypt Tunisia offshore ..................................................................................... 69 Figure 36 Gas subsidies in key MENA countries 2012-2014, Real 2013 BUSD ........................... 73 Figure 37: Energy subsidies in GCC countries, 2013-2016. % of GDP ..................................... 74 Figure 38: Value of gas vs netback in export. ..................................................................... 78 Figure 39: LRMC Wellhead costs Mena Region .................................................................... 79 Figure 40: Middle East LRMC, LNG import, and subsidised prices (2020) ................................. 81 Figure 41: Middle East LRMC, LNG import, and subsidised prices (2020) ................................. 81 Figure 42: Netback value of gas in export (LNG+Pipeline), power sector (coal, HFO) ME ............ 84 Figure 43: Netback value of gas in export (LNG+Pipeline), power sector (coal, HFO) ................. 86 Figure 44: EU Moving towads a competitive gas market .................................................... 103 Figure 45: Map of Egypt hub ......................................................................................... 106 Figure 10-3- Levant basin ............................................................................................. 108 Figure 46: Overview Levant Basin .................................................................................. 108 Figure 48: EASTMED and Poseidon Pipelines .................................................................... 109 Figure 49: Significant discoveries in the Eastern Mediterranean ........................................... 110 Figure 50: Map of Libya hub .......................................................................................... 112 Final Report Figure 51: Iraq hub ..................................................................................................... 114 Figure 52: Qatar trading hub ......................................................................................... 116 Figure 53: Iran trading hub ........................................................................................... 117 Figure 54: overview of gross production Algeria ................................................................ 119 Figure 55: Algeria gas production 5 new fields .................................................................. 120 Figure 56: Marketed Production and Export Algeria ........................................................... 121 Figure 57: Projections of gas demand 2017-2023. ............................................................ 121 Figure 58: Algeria gas balance ....................................................................................... 122 Figure 59: LRMC incremental production Algeria ............................................................... 123 Figure 60: Energy subsidies in Algeria 2012-15. Percent of GDP. ......................................... 124 Figure 61: Gas supply Morocco ...................................................................................... 126 Figure 62: Value of gas Morocco .................................................................................... 127 Figure 63: Production balance Tunisia ............................................................................. 128 Figure 64: Production balance Tunisia ............................................................................. 129 Figure 65: Tunisia Supply and demand balance ................................................................ 130 Figure 66: Tunisia power sector gas consumption ............................................................. 130 Figure 67: Value of gas Tunisia ...................................................................................... 131 Figure 68: Production projection .................................................................................... 133 Figure 69: Gas balance Iran .........................................................................................
Recommended publications
  • Rift Among GCC States Healed: FM

    Rift Among GCC States Healed: FM

    ISO 9001:2008 CERTIFIED NEWSPAPER Thursday 24 April 2014 24 Jumadal II 1435 - Volume 19 Number 6045 Price: QR2 International Benzema puts Islamic profit Real in charge up 10.2pc against Bayern Business | 17 Sport | 28 www.thepeninsulaqatar.com [email protected] | [email protected] Editorial: 4455 7741 | Advertising: 4455 7837 / 4455 7780 Qatar, Kenya ink deals No new MERS Rift among cases in Qatar DOHA: Amid a jump in the number of Middle East Respiratory Syndrome (MERS) cases in Saudi Arabia, the GCC states Supreme Council of Health (SCH) yesterday clarified that Qatar had had no new cases since November 2013. In a statement, the SCH said that it was constantly analysing healed: FM the risk of MERS and taking precautions to prevent it from spreading, in collaboration with the Ministry of Environment and No compromises made: Al Attiyah the World Health Organisation. High body temperature with DOHA: The Foreign Minister H H Sheikh Tamim bin Hamad breathing difficulty has been iden- H E Dr Khaled bin Mohamed Al Al Thani during the Arab League tified as one symptom of MERS. Attiyah said yesterday that the Summit recently held in Kuwait. People displaying the symptom “Gulf differences” had come to “I cannot give an assessment are immediately isolated and an end and it was now up to the of the situation in Egypt but we tested at a specialised laboratory countries that had recalled their hope to see Egypt rising at all lev- of Hamad Medical Corporation. ambassadors from Doha to send els, which is extremely important The Emir H H Sheikh Tamim bin Hamad Al Thani and Kenyan President Uhuru Kenyatta during the signing of THE PENINSULA them back.
  • 2016 Case List

    2016 Case List

    FRONT COVER 1 3 PEN INTERNATIONAL CHARTER The PEN Charter is based on resolutions passed at its International Congresses and may be summarised as follows: PEN affirms that: 1. Literature knows no frontiers and must remain common currency among people in spite of political or international upheavals. 2. In all circumstances, and particularly in time of war, works of art, the patrimony of humanity at large, should be left untouched by national or political passion. 3. Members of PEN should at all times use what influence they have in favour of good understanding and mutual respect between nations; they pledge themselves to do their utmost to dispel race, class and national hatreds, and to champion the ideal of one humanity living in peace in one world. 4. PEN stands for the principle of unhampered transmission of thought within each nation and between all nations, and members pledge themselves to oppose any form of suppression of freedom of expression in the country and community to which they belong, as well as throughout the world wherever this is possible. PEN declares for a free press and opposes arbitrary censorship in time of peace. It believes that the necessary advance of the world towards a more highly organised political and economic order renders a free criticism of governments, administrations and institutions imperative. And since freedom implies voluntary restraint, members pledge themselves to oppose such evils of a free press as mendacious publication, deliberate falsehood and distortion of facts for political and personal ends. Membership of PEN is open to all qualified writers, editors and translators who subscribe to these aims, without regard to nationality, ethnic origin, language, colour or religion.
  • Sustainable Development Indicators in the State of Qatar 2015

    Sustainable Development Indicators in the State of Qatar 2015

    Sustainable Development Indicators in the State of Qatar 2015 WWW.MDPS.GOV.QA Sustainable Development Indicators in the State of Qatar 2015 December 2015 Publisher: Ministry of Development Planning and Statistics All rights reserved for the Ministry of Development Planning and Statistics This study or any part thereof shall not be republished unless prior written consent is obtained from the Ministry of Development Planning and Statistics Ministry of Development Planning and Statistics: [email protected] www.mdps.gov.qa 2 Sustainable Development Indicators in the State of Qatar 2015 Content Preface 5 Introduction 7 Chapter One: Social Indicators Foreward 11 1) Unemployment rate 12 2) Percentage of average female wages to male wages 13 3) Under-five mortality rate 14 4) Life expectancy at birth 15 5) Proportion of population with access to adequate sanitation facilities 16 6) Proportion of population with access to safe drinking water 17 7) Population growth rate 18 8) Total fertility rate 19 9) Dependency ratio 20 10) Proportion of population with access to primary health care 21 11) Proportion of newborns with low birth weight: 22 12) Immunization against childhood infectious diseases: 23 13) Gross intake ratio in the last grade of primary education: 24 14) Adult secondary (tertiary) schooling attainment level of total population 25 15) Adult literacy rate 26 16) Number of crimes per 100,000 of population 27 Chapter Two: Economic Indicators Foreward 31 1) Per capita GDP 32 2) Percentage of investment to GDP 33 3) Inflation Rate 34
  • Trends and Projections of Breast Cancer in Saudi Arabia: a National Incidence Rates by Gender, Age, Nationality, and Years (1999-2014)

    Trends and Projections of Breast Cancer in Saudi Arabia: a National Incidence Rates by Gender, Age, Nationality, and Years (1999-2014)

    ISSN: 2574-1241 DOI: 10.26717/BJSTR.2019.12.002270 Anwar E Ahmed. Biomed J Sci & Tech Res Research Article Open Access Trends and Projections of Breast Cancer in Saudi Arabia: A National Incidence Rates by Gender, Age, Nationality, and Years (1999-2014) Anwar E Ahmed1,2*,Yasmine A Zaatreh3, Aida A. Saad3, Mohammad Alkaiyat1,2,4, Tabrez Pasha1,2,4, Omar B. Da’ar1,2, Khaled Alkattan3, Abdul Rahman Jazieh1,2,4 1King Saud bin Abdulaziz University for Health Sciences, Riyadh, Saudi Arabia 2 King Abdullah International Medical Research Center, Riyadh, Saudi Arabia 3 College of Medicine, Alfaisal University, Riyadh, Saudi Arabia 4Oncology Department, Ministry of National Guard - Health Affairs, Riyadh, Saudi Arabia Received: : December 15, 2018; Published: : January 02, 2019 *Corresponding author: Anwar E Ahmed, College of Public Health and Health Informatics, MC 2350, PO Box 22490 Riyadh, 11426, KSA, Saudi Arabia Abstract Background: Despite the fact that the incidence of breast cancer continues to increase in Saudi Arabia, we have yet to see a national report assessing the association between the incidence of breast cancer and patient characteristics. This study aimed to evaluate the incidence of breast cancer and its 2030 projection. Methods: This national-level cohort study utilized the Cancer Registry of Saudi Arabia data that reported on breast cancer patients who diagnosed between 1999 and 2014 (the most recent report). Results: The age-standardized incidence rate (ASIR) has increased over 15 years from 13.6/100,000 in 1999 to 22.7/100,000 in 2014 for the female population (an increase of 66.9%).
  • The Future of the Eastern Mediterranean Region Natural Gas Alliances in the Aftermath of the Arab Spring

    The Future of the Eastern Mediterranean Region Natural Gas Alliances in the Aftermath of the Arab Spring

    The future of the Eastern Mediterranean region natural gas alliances in the aftermath of the Arab Spring Valeria Barbi, FEEM (Fondazione ENI Enrico Mattei), +39 349 49 05 913, [email protected] Overview For a concrete perspective on geopolitical trends in the aftermath of the Arab Spring, it’s important to look at the Mediterranean area through the lens of the natural gas trade. On March 12th, Egypt’s Parliament voted unanimously to cut diplomatic ties with Israel. The motion of the Maglis al-Shaab , Egypt’s lower house, calls for an halt in the export of natural gas to Israel. In fact, since 2008, Mubarak’s Egypt has supplied Israel with gas through a 100km undersea artery of the Arab Gas Pipeline (AGP), between El-Arish and a gas import facility on Israel’s Mediterranean coast. Then, with Hosni Mubarak gone, the pipeline which exported around 40 percent of Israel’s gas consumption, has been blown up by militants in Sinai five times sending energy prices in Israel skyrocketing. Although the Arab Spring has been an important determinant on this, other prior developments or related consequences have been important factors in the growing isolation of Israel and in changing the geopolitical assets of the area with further effects also for the EU and the entire region’s gas market. In January 2009, Israeli oil company Delek, and U.S. Noble Energy Company, discovered off the coast of Haifa a large natural reservoir known as Tamar , which is estimated to hold 8 trillion cubic feet (tcf) of gas. Then, early in 2010, another offshore gas field, called Leviathan , with a potential of 16 tcf of gas, was discovered.
  • The Issues Relating to the Activities of the World Trade Organisation

    The Issues Relating to the Activities of the World Trade Organisation

    ORIGINAL: FRENCH REPORT ON THE ISSUES RELATING TO THE ACTIVITIES OF THE WORLD TRADE ORGANISATION DOCUMENTS PRESENTED BY THE ISLAMIC CENTRE FOR DEVELOPMENT OF TRADE TO THE 31st SESSION OF THE FOLLOW-UP COMMITTEE OF THE STANDING COMMITTEE FOR ECONOMIC AND COMMERCIAL CO-OPERATION OF THE OIC (COMCEC) Ankara – Republic of Turkey 13th – 14th May 2015 1 B A C K G R O U N D The Islamic Centre for Development of Trade (I.C.D.T) is a subsidiary organ of the Organisation of Islamic Cooperation (O.I.C) in charge of Trade Promotion between Islamic Countries, was mandated by the Secretary General of the O.I.C and the Standing Committee for Economic and Commercial Cooperation for Islamic Countries (COMCEC) to follow up in collaboration with the Group of the Islamic Development Bank, the multilateral trade negotiations organised by the World Trade Organisation (W.T.O). Within this framework, I.C.D.T submits on a regular basis, progress reports on these negotiations to the COMCEC’s annual meetings, the Islamic Commission for Economic, Cultural and Social Affairs of the O.I.C and the annual Council of the Foreign Affairs Ministers (CFM). Likewise, the Centre works out reports and studies in preparation of the WTO Ministerial Meetings in order to shed light on the positions of Islamic Countries at this meetings and identify a common platform to coordinate their stances. Besides, the Centre organizes seminars and workshops on the Multilateral Trade Negotiations for the benefit of the representatives of the OIC Member States from both the public and private sectors and on intra-OIC trade negotiations.
  • 0178Y24.GOH 00Waterline Twenty (IRE)|2014|C|A|2402144

    0178Y24.GOH 00Waterline Twenty (IRE)|2014|C|A|2402144

    0178Y24.GOH 00Waterline Twenty (IRE)|2014|C|A|2402144 Consigned by Manhattan Bloodstock 1 1 Oasis Dream Green Desert Captain Gerrard Hope BAY COLT (GB) (IRE) Soviet Star February 1st, 2014 Delphinus Scimitarra (Fourth Produce) Danehill Waterline Indian Danehill Danse Indienne Twenty (IRE) Namaqualand (2003) Taisho Winged Island E.B.F. Nominated. 1st dam WATERLINE TWENTY (IRE): 5 wins at 2 to 5 and £35,057 and placed 13 times; dam of 3 previous foals; 3 runners; 2 winners: Scoreline (GB) (11 g. by Captain Gerrard (IRE)): 5 wins at 3 and 4, 2015 and £23,577 and placed 19 times. Come Uppence (GB) (12 g. by Captain Gerrard (IRE)): winner at 3, 2015 and placed 10 times. 2nd dam TAISHO (IRE): 3 wins at 2 and 3 and £35,699 inc. Entrepreneur EBF Athasi S., L., placed 6 times; dam of 7 foals; 5 runners; 5 winners inc.: Johnny Hancocks (IRE): 10 wins, £62,225 viz. 3 wins at 2 and placed 20 times; also 7 wins to 2014 in Qatar and placed 5 times. Mulberry Lad (IRE): 9 wins and £22,494 and placed 10 times. Alexander Choice (IRE): 7 wins in Greece and £32,520 and placed 19 times. Winning Spirit (IRE): winner at 2 and placed 3 times. 3rd dam WINGED ISLAND (GB) (by Topsider (USA)): unraced; dam of 2 foals; 1 runner a winner: TAISHO (IRE): see above. 4th dam SWEPT AWAY: 2 wins at 3 in France and £28,954 inc. Prix Chloe, Gr.3, placed; dam of 8 foals; 3 runners; 2 winners: Erosion (IRE): 3 wins viz.
  • Arab Gas Pipeline

    Arab Gas Pipeline

    Oct 2004 The Arab Gas Pipeline Aims to transport and distribute Egyptian Natural gas to Jordan, Syria and Lebanon in its first phases. The project can be further expanded to allow Iraq and other Major gas producers in the region to export their natural gas to Europe, or even in the opposite direction through additional networks and loops thus forming the “Arab Gas Network”. Main Milestones for the Arab Gas Pipeline (December 2000) : Signature of the MOU between Egypt, Syria and Lebanon to construct the Arab Gas Pipeline (Jan. 2001) :Jordan joins the MOU. (June 2001) : Signature of Gas Sales Agreement between Egypt and Jordan (September 2001) : Arab Funding agents agree to finance the Project (September 2004) : Iraq joins the MOU. Arab Gas Pipeline Project ( AGP) Arab Gas Pipeline Phases: - Over all length= 1500 km Syrian - Nominal capacity: 10 BCM/Y /Turkish grid connection Turkey is the bridge to Europe ,There are excellent market opportunities for AGP Syria has Potential to play a role Lebanon: a Gas in export, and gas transit. importer Turkey Iraq Iraq: Large gas reserves. Egypt: Adequate gas reserves Jordan: a Gas importing for domestic demand, regional and transit country supply and export to Europe. Features of the Mashreq Gas Market Damiatta Port Said Stage I 248 km of 36" onshore pipeline and 16 km offshore completed in July 2003 Phase II 393 km, 36" completed and commissioned Fabruary of 2006. AGP complete phase 2 Responsibility : (Fajr Company) • completed and commissioned March of 2008 (35 million USD) SYRIANArab Gas Pipeline Phase III Via Syria /TURKISH NETWORK CONNECTI ON POINT 645 km and 36 in , From the Syrian /Jordanian Border up to Killis at Syrian/Turkish border and to Syrian/ Lebanon border, consists of two sections.
  • Fossil Fuels in Jordan “Facts and Achievements”

    Fossil Fuels in Jordan “Facts and Achievements”

    Fossil Fuels in Jordan “Facts and Achievements” ESCWA Fossil Fuels Experts Team Ministry of Energy and Mineral Resources / Jordan Beirut / December 2018 Jordan Energy Strategy for 2015-2025 The energy strategy for 2015-2025 was formulated and approved in order to face the energy sector challenges through achieving the following main goals: ❖ Diversification of energy forms from local sources by: ✓ Increase local energy portion in total energy mix such as Oil Shale( >70 billion ton of surface reserve), Uranium for nuclear energy (> 65,000 ton of reserve) , Solid Waste and Renewable Energy sources (Wind and Solar). ❖ Continue the Conventional Oil and Gas exploration program. ❖ Decrease dependency on imported energy ❖ Raise Energy Consumption Efficiency Jordan Energy Strategy for 2015-2025 (Cont’d) ❖ Enhancing the Environment Protection in energy projects and establishing the proper relative regulations. ❖ Enhance Regional Connectivity for energy as Jordan is considered to be a hub and transit country for linking oil , gas and electricity networks among the region ❖ Formulating the legal and regulatory frameworks for the energy sector ❖ Achieve the security of supply of oil derivatives and natural gas for 2015-2025. ❖ CO2 emissions: Jordan is a Non Annex 1 country in the Kyoto Agreement and strongly committed to mitigate climate change impacts according to Paris Agreement, it has no implications on the greenhouse gas emissions and can benefit from Carbon credits. Ministry of Energy and Mineral Resources Energy Challenges in Jordan Major current challenges encountering the energy sector in Jordan: ✓ High dependence on imported fuel (97%) ✓ Limited domestic energy sources ✓ National Budget Stress ✓ High Capital needed for sustainable and energy investment projects by foreign investments.
  • Pioneering Peace Pathways Making Connections to End Violent Conflict 29

    Pioneering Peace Pathways Making Connections to End Violent Conflict 29

    29 ISSUE ISSUE Aan internationalccord review of peace initiatives Pioneering peace pathways Making connections to end violent conflict 29 Accord ISSUE an international review of peace initiatives Pioneering peace pathways Making connections to end violent conflict August 2020 // Issue Editor Cate Buchanan Accord // ISSUE 29 // www.c-r.org Published by Conciliation Resources, to inform and strengthen peace processes worldwide by documenting and analysing the lessons of peacebuilding Published by Acknowledgements Conciliation Resources Appreciation is extended to: Burghley Yard, 106 Burghley Road London, NW5 1AL Authors for drafting articles in a time of unprecedented uncertainty and anxiety in many www.c-r.org corners of the world and delivering articles with Telephone +44 (0)20 7359 7728 competing demands on all fronts. Fax +44 (0)20 7359 4081 Peer reviewers for providing sharp insights Email [email protected] and ideas to strengthen articles. Charity registered in England and Wales Conciliation Resources is grateful to the (1055436). Company limited by guarantee Sasakawa Peace Foundation and the Swiss registered in England and Wales (03196482). Federal Department of Foreign Affairs for support for the Accord Pathways to Peace Talks project. Director of Accord and Series Editor Opinions expressed by all contributors Alexander Ramsbotham are their own. Issue Editor The contents of this publication are the sole Cate Buchanan responsibility of Conciliation Resources. Commissioning Editor and Editorial Manager Sally Holt Executive Director Jonathan Cohen Director of Policy and Learning Teresa Dumasy Policy Officer Felix Colchester Policy and Learning Assistant Callum MacLean Copyedited by Aaron Griffiths Designed and typeset by Soapbox designbysoapbox.com © Conciliation Resources 2020 Permission is granted for reproduction and use of the materials for educational purposes.
  • Towards a New Eastern Mediterranean Energy Corridor?

    Towards a New Eastern Mediterranean Energy Corridor?

    The rise of Turkey and the new Mediterranean Research programme TOWARDS A NEW EASTERN MEDITERRANEAN ENERGY CORRIDOR? Natural gas developments between market opportunities and geopolitical risks by Simone Tagliapietra (Fondazione Eni Enrico Mattei) Keywords: Eastern Mediterranean / Natural gas / Energy geopolitics / Turkey / Israel / Egypt / Cyprus / Lebanon / European Union / Security of Gas Supply / Energy security / The rise of Turkey and the new Mediterranean Research programme Introduction The politics and economics of eastern Mediterranean energy are rapidly changing. The political transition in Egypt after the Arab Spring, the civil war in Syria, the emergence of Turkey as leading regional power, the tensions between Israel and Gaza, the repeated strains between Turkey and Israel and the never-ending dispute between Turkey and the Republic of Cyprus are -all together- reshuffling the regional geopolitical equilibrium. At the same time natural gas findings are flourishing in the offshore of Egypt, Israel, and Cyprus, reshaping the regional energy map and rapidly making the eastern Mediterranean a world-class natural gas province. These geopolitical and energy pressures are rapidly converging, generating a number of new challenges and opportunities for each player in the region. The aim of this paper is to provide a wide framework of understanding of this situation, through the lens of natural gas geopolitics. To this end, the paper will first provide an overview on the eastern Mediterranean natural gas market, also illustrating the most important project of natural gas cooperation ever attempted in the region: the Arab Gas Network. Secondly, the paper will describe how the recent unilateral halt of Egyptian gas supplies to Israel and the interruption of the Arab Gas Pipeline in the aftermath of the Arab Spring ended the expectations of regional gas cooperation embodied by the Arab Gas Network project.
  • World Tax Advisor 25 April 2014

    World Tax Advisor 25 April 2014

    International Tax World Tax Advisor 25 April 2014 In this issue: Russia’s “de-offshoring” policy may affect foreign and domestic businesses ......................................................................... 1 European Union: Netherlands requested to end discriminatory taxation of dividend distributions to insurance companies .... 6 France: Measures announced to promote investment ........................................................................................................... 7 Germany: New treaty signed with China ............................................................................................................................... 7 Saudi Arabia: Tax bylaws retroactively amended ................................................................................................................... 8 United Kingdom: New policies affect PAYE reporting for employees on short-term business visits to the UK ......................... 9 In brief ............................................................................................................................................................................... 10 Tax treaty round up ............................................................................................................................................................ 11 Are You Getting Your Global Tax Alerts? ............................................................................................................................ 14 Russia’s “de-offshoring” policy may affect foreign and domestic