Quote:
Originally Posted by alocky
Interesting perspective. As someone who works for an oil and gas company with interests in that part of the world, and as someone with more than a passing awareness of how the gas trading world operates - especially around the eastern med, I have not seen anything to support this view. Have you got any evidence to support this? Not only that, but I am not aware of any gas discoveries offshore Syria. Again, something I am paid to be aware of.
There are minor onshore reserves around that ares, but gas is only a tiny part of the energy equation in that part of the world. Still - if you've actually got something to support your theory I'd be very interested to see it.
Cheers
Andrew.
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Assad signed the agreement in 2012. It was in the PetroleumNew at the time and was considered a potential shift of influence in the region. The project sort of failed due to the Arab Spring. I assume it'll be back on the table once things settle down again.
There was an originally proposed alternative route is direct into Turkey via Iraq but considering the terrain of the Kurdish held north, was considered to expensive an option. The Kirkuk area is still unstable and Dohuk has a lot of problems with Turkey.
It's not about the gasfield in Syria, but transportation of south Arabian peninsula gas into Europe. Qatar and Iran share the world largest gas field (North Dome / South Par), containing 1800Tcf of gas and 50 billion barrels of oil. Qatar can't really build anymore LNG capacity as the world LNG market has shifted into a buyers market. Japan's recent win over contractual acceptance at specific destination has changed the market.
Also, their GtL plant was more expensive than they originally anticipated, so the lower unit cost for transportation in the distances we are talking about would be a pipeline.
Last item: Leviathan was to be Europe's hope for short-mid term gas supply, but Israel looks to be reserving most of the gas, so it's going to be an economically challenged development. If Leviathan were to be developed for Europe, it would take a lot of the pressure off of the current problems around Syria.
OIC!