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Home arrow newsitems arrow French Economy Minister Macron to EuroFora: Egypt-Israel-Cyprus' Gas + East-MED Pipeline= Big Chance

French Economy Minister Macron to EuroFora: Egypt-Israel-Cyprus' Gas + East-MED Pipeline= Big Chance

Written by ACM
Friday, 04 September 2015
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*Strasbourg/Palace of Congres+Music (PMC)/Angelo Marcopolo/- After the Latest Giant Gas Field Findings by Italian ENI at Egypt's Sea area, near Cyprus' and Israel's own recent Discoveries and searches, the Project of East-MED Pipeline able to Transport those New Energy Resources Directly towards the entire EU, appears as a "Big Chance" for "all" Countries involved and EU's Energy Supplies, stressed in substance the French Economy Minister Emmanuel Macron, in reply to relevant Questions raised by "EuroFora", at the conclusion of a Press Point with Strasbourg's Journalists on the occasion of the Inauguration of 2015 EuroFair earlier Today.

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    Egypt's, Israel's and EU Member Cyprus' recently emeging Energy Gas Findings, at South-Eastern Mediterranean Sea, as Close to Europe and able to be Grouped for Direct Transport to EU Countries, could obviously Help Boost much needed  Economic Growth, if the EU seized that Opportunity Fast enough, i.e. with the "Agility" of  which spoke earlier Today  Macron, (See Infra).

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    + Topically, this was said in an Exceptionaly Important, Relevant Context : I.e. At the Eve of Macron's Visits to Italy and Israel, from Tomorrow Saturday until Tuesday (6 - 9 September 2015), where he is due to meet Italian Prime Minister Matteo Renzi, from the Neighbouring Big EU Country whose Oil/Gas Company "ENI" has anounced the Discovery of a "Giant" Gas Field in Egypt's Territorial Waters last Sunday (30 August 2015), as well as German Chancelor Angie Merkel's Economic Adviser Lars-Henrik Röller, etc., followed by Palestinian Authority President Mahmoud Abbas and Israeli Ministers of Economy and Energy , Arye Deri and Yuval Steinitz, respectively, but alo an important Israeli Investor, with big Experience in Oil/Gas/Electric Energy matters, included in Peace Negotiations with Neighouring Arab Countries, Yossi Vardi, (See Infra).

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    - "You are absolutely Right !", Emmanuel Macron positively responded from the outset to "EuroFora"s initial mention of the Fact that the recent Gas "Energy" Findings in Egypt, Israel and Cyprus could Benefit "the Economy and the Industry" of both the immediately concerned Countries, as well as of France and all the European Union.

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    Even more Interesting appeared the French Economy Minister's subsequent Statement in Reply to follow-up Question by "EuroFora", specifically Focusing also on the "East-MED" Gas Pipeline project, whose Study was recently funded by EU Commission, in order to bring the South-Eastern areas New Energy Findings directly into the EU :


    -  "I think that it's a Great Opportunity !", Macron sharply observed in this point, which concerns even more directly France, whose TOTAL Oil/Gas Company has a Bloc in Cyprus' EEZ exactly adjacent to that of Italian ENI, who has just Discouvzered a Giant Gas Field at Neighbouring Egypt.


    - And that goes "For All" Countries involved, (i.e. Egypt, Israel and Cyprus, as Future Profucers, added particularly to Italy but also Greece, as main Pipeline Transit EU Member Countries, etc, as well as most probably France (Comp. Supra, and naturally Germany (as main Industrial European Country), and the rest of EU), he pointed out in Addition.

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    - Indeed, "Today, I am present, here, at Strasbourg's EuroFair, for the Economy and Growth : We must all become Sentinels of Growth", he also stressed at this occasion, (while Energy findings are naturaly one of the Key Factors able to Boost Growth).


    + For that purpose, "We (France and all the EU) must be Quick and Ready to Seize New Opportunities", Macron underlined a few minutes earlier in Strasbourg, speaking, as a matter of General Principle, Just a Few Days after Italian Company "ENI" anounced, last Sunday, August 30, that it had succeeed to find a "Giant" Gas Field in Egypt, which could become one of the Biggest in the World.


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    => Significantly, it's later this Afternoon, a few Hours after his brief but Topical and Substantial exchange with "EuroFora" around Noon, that the French Economy Minister's Office has just Anounced that, right in the Middle of his forthcoming 3 Days Visit to Israel and the Palestinian Territories, he scheduled to have a Long Meeting with the Israeli Minister for Energy and Infrastructures, Yuval Steinitz, during almost 1 Hour, in Jerusalem, on Monday afternoon.


    Meanwhile, immediately after the Official Announcement by ENI of its latest Discoevry of a "Giant" Gas Field in Egypt's Deep Sea, last Sunday, August 30, Macron visited Germany for coordination, and afterwards met with Israel's Ambassador to Paris, on Monday, August 31.


    + Today, his Office also anounced that he will meet and participate in collective events organized on Tuesday, September 9,  together with experienced Israeli High-Tech, Web and Energy Investor Yossi Vardi, who is Now Co-Chair of the Israel - EU Strategic Business Dialogue, won the "Innovation Leadership" Medal awarded by the European Alliance for Innovation, worked as former 1st Director General at the Ministry of Energy, Board Member of Israel's Electric Corporation, Chairman of Oil Explorations Concessions Council and of the National Oil Company, Board Member of Oil Refineries Ltd,  co-Founder of Alon Oil, (etc), and reportedly Headed Economic Negotiations with Jordan, served on Israel - Syria Talks, helped Discover Oil Fields in the Gulf of Suez, advised the World Bank and the U.N. Development Program on Energy and Development,  and led Negotiations on the Oil part in the Peace Agreement with Egypt.


    Prime Minister Benjamin Netanuahu had already proposed a Pioneer Idea for a possible Transport of Energy from Israel and EU Member Cyprus to the rest of Europe by Transforming Gas Findings into Electricity, transmissible via an UnderSea Cable, during an Official Visit at Nicosia, as early as since 2011.


    On 2014, a First TriPartite Summit between Egypt, Greece and Cyprus, focusing on Energy Findings and Transport, as well as Security, etc. was organized in Cairo, bringing Together the Egyptian President Abdel Al-Sissi, (f) Greek Prime Minister Antonis Samaras, and Cyprus' President Nicos Anastassiades, who adopted and Signed a Joint Strategy Plan. A similar move is being planned, in parallel, between those 3 Countries also with Israel.

 

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    Italian ENI's latest Gas Findings in Egypt's EEZ, as anounced last Sunday (Comp. Supra), point at a "Giant" Field, the Biggest in the Mediterranean Sea, and one of the Biggest in the World, nick-named "Zohr", which could hold up to 30 Trillion Cybic Feet of Gas. Added to Israel's earlier "Leviathan" and "Tamar" OffShore Gas Fields, (22 + 10 Tcf, respectively), as well as to Cyprus' previous Finding, at the"Aphrodite" Field, of an estimated 4,5 Tcf of Gas, the current overall Off Shore Potential of the 3 Neighbouring Countries reached, this Week, More than 66,5 TcF in Total !


    + And that's Not all : ENI's latset, "Giant" Discovery in Egypt's "Zohr" Field lays at the "Shorouk" Exploration Block, which is Strikingly Near (in fact almost Entirely Adjacent !) to Cyprus' own Block "No 11", interestingly located Between the Egyptian and Israeli Big "Zohr" and "Leviathan" Gas Findings, as well as close to Cyprus' earlier "Aphrodite" Gas Finding, (See relevant MAPs).... In consequence, it clearly seems now as Highly Probable, if not apparently certain, that Cyprus' Exploration "Block No 11", located Right in the Middle, Between the Egyptian and Israeli Mega-Findings, should also have some very Interesting Gas resources' Findings to make soon...

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    Indeed, a strange Suspence concerning that "Block 11" at Cyprus' EEZ (the Closer to Egypt's latest Gas Findings) must now come to an End : It's the French Company "TOTAL" which has got the Exploration Rights in that Block, shortly after "EuroFora"s co-Founder had Spoken about France's possible presence in the emerging South-Eastern Mediterranean Sea Gas Hub Findings with its f. CEO, the experienced Christophe de Margerie, as early as on January 2011, during a Reception at the French Presidential Palace "Elysée" in Paris, with Margerie himself, who had responded to our question Positively, anouncing that he "Knew" that "Gas Findings" were emerging in Cyprus' EEZ, and, therefiore, "France will be present" there, (See : http://www.eurofora.net/newsflashes/news/killedmargeriekeyforrussiaandcyprusenergy.html). Something which started to become reality, in practice, shortly afterwards, TOTAL getting a Licence from the Cypriot Government, Beginning Explorations and making some Preliminary Findings.

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    But, suddenly, less than 1 Year ago, on October 2014, Margerie was ... Brutally Killed, at an Unprecedented and not yet fully Elucidated Air Crash, when his Private Jet's take off, at a Moscow Airport in Russia, was curiously Obstructed by a Maintenance Truck, resulting in a Violent Breakdown and Explosion, which left all Passengers, Pilote included, atrocioudly Dead, in a Strange Violent Incident, on which, Russian and French Investigations are reportedly still Pending, (despite the Arrest of some subalterne agents and the Firing of that Airport's Manager by the Russian Authorities, shocked by such a Drama, shortly after a meeting of Prime Minister Medvedev with Margerie, who was traditionaly a Strong Supporter of Franco-Russian Economic Cooperation, despite the controversial "Sanctions" imposed in the Exceptional Context of the Political Crisis in Ukraine).


    Astonishingly, shortly after Margerie's Killing, the New TOTAL's CEO has anounced that it would "Suspend" its Exploration at Cyprus' Block 11, despite some Initial Gas Findings, that it estimated as Economicaly "Insufficient", at least for the Time being, and taking into account the Oil Prices at that moment, (which were then Lower than Now). Even more Curiously, TOTAL reportedly asked, nevertheless, to examine the possibility to take also another Exclusive Licence for Gas Exploration also of anOther Block in Cyprus' EEZ, over the SeaMount "Eratosthenes"...


    + Moreover, Today, the recent Gas Findings at Israel and Egypt's EEZ ("Leviathan" and "Zhor", respectively), in Blocks which practicaly "Surround" the above mentioned Cyprus EEZ's Block 11 (Comp. Supra), in addition to the pre-existent Cyprus "Aphrodite" initial Gasz Finding, which is also adjacent to that Same Area, should naturaly Re-Launch Now the Interest for a full and comprehensive Exploration of French TOTAL's Block 11 are, (given also the Additional Fact that even the Guiding Oil Prices have, meanwhile, notoriously Risen at Levels which are notably Superior to what they were Last Year : Comp. Supra). The Contrary would be obviously very Suprising, in Today's Context.


    ++ Additionaly, the Fact that most Companies active in that Areas are almost the Same, (f.ex. USA's "Noble Energy" for Cyprus' "Aphrodite" Gas Findings and Israel's "Leviathan" Gas Field, or Italy's "ENI", present both in Egypt, at "Shorouk"'s latest Giant Gas Finding, and in Cyprus, f.ex. at Block 9), naturaly Faciltates things for a possible Joint Operation on the Strategic issue of the Choice of the way(s) to Transport their Gas Findings Directly into Europe.


    +++ Even the Precise Location of ENI's latest "Giant" Gas Finding in Egypt is Helpful for that purpose, since the "Zohr" Field stands Far Away from the Egyptian Coast (+ 200 Km !), but almost at the Same Area as  Cyprus' "Aphrodite" and Israel's "Leviathan" Gas Fields.

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    => Thus, just a Month ago, on July 2015, EU Commission anounced its Decision to Fund a Study on the proposed "East-MED" Pipeline project, which offers to Join Together, at an OffShore Gas Liquification Platform, (close to EU Member Cyprus's "Aphrodite" initial Findings), in order to  Transport all the 3 Countries' Future surplus Gas Energy Production Directly towards Europe, through EU Members Greece and Italy, etc (See relevant MAPs).


    Now, with Total Gas Findings in that area already Culminating at above 66,5 Trillion Cubic feets, and probably reaching soon at more than 70 Tfc, (Comp. Supra), while, in parallel, the Economic Climate seems reportedly much Better Today than 1 Year before, (as French Economy Minister Macron observed earlier in Strasbourg), obviously, the Natural Move in order to Help Boost  Growth in the EU is to Timely Seize that Opportunity and Start Building Fast the proposed East-MED Strategic Pipeline, currently the only able to Transport New Energy Supplies DIRECTLY towards Europe, without obliging at all to, previously, Transit through any Other, Foreign Third Country, i.e. Avoiding, ipso facto, the Otherwise Inevitable Risks of Conflicts, (as, f.ex. through Turkey, with the ISIL and/or Kurdish Conflicts, in addition to Seismic Risks, or, at a lesser level, via Ukraine, as long as the Eastern "Autonomist" Regions' Conflict with Kiev has not yet reached a Final Agreed Solution, etc).

 

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    Naturally, the emerging South-Eastern Gas Rasources could also Start to be Produced and Transported Directly to the European Continent, in various Other Ways, (as some MAPs with Diferend Timelines, clearly show), even Before the possible construction of an East-MED Pipeline, simply by adequate merchant Ships, that f.ex. EU Members Cyprus and Greece notoriously have a lot, while both France and Italy, but also Spain, etc., already dispose of several Big Mediterranean Infrastructures with Gas Deliquification equipments, etc.

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    For all those reasons, French Economy Minister Emmanuel Macron's current Visits to Italy and Israel seem, indeed, Timely, particularly in order to Help boost Growth through better and New Energy Supplies in the foreseable Future, if such rare

(../..)

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(NDLR : Fast Translation from the Original in French. + "DraftNews", as already send to "EuroFora"s Subscribers/Donors, earlier. A more accurate, full Final Version, might be published asap).

***


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*Paris/ACM/12 October 2008/-

When Europeans really feel a vital need to urgently launch common replies to challenging World Crisis, as the present Financial turmoil of Global Markets, they forge new decision-making tools and new dynamics :

The 1st in History EuroZone Heads of State and Government Summit, organized in Paris at the invitation of French President, and current EU chair, Nicolas Sarkozy, with the participation of 15 national leaders and EU institutions' chairmen, partly enlarged to British Prime Minister Gordon Brown, after a highly symbolic duo with German Chancelor Angie Merkel, at General De Gaulle's birth-village, 50 Years after he welcomed there former German chancellor Adenauer (1958-2008), may have not one, but two results :

- The first, and more urgent, was to launch an "ambitious", "coherent", and "efficient" common European movement, able to stimulate "solutions" to the World Economic Crisis, as Sarkozy anounced from the outset : State Garantees (to new Bank debts up to 5 years), fresh Capital input (f.ex. by buying shares), support to distressed banks, (while also restructuring them), incite the European Central Bank to facilitate commerial bills europe-wide, etc.

"Acting swiftly", from tomorrow, national measures will quantify all these targets, with coordinated actions from all EuroZone's Governments : France, Germany, Italy and others, decided to anounce, at the same time, such concrete measures, according to agreements that we have already made all together, revealed Sarkozy at the final Press Conference, flanked by EuroZone's chairmen : EuroGroup's Jean-Claude Juncker, and Central European Bank's Jean-Claude Truchet, as well as EU Commission's Jose Baroso, to solemnly stress the will to find common European solutions.

- "United and Determined, all EuroZone's Countries will act to prove that Citizens can Trust" the Economy, Sarkozy concluded. If we attract also all EU's 27 countries, Wednesday in Brussels, then we can coordinate action with our American Friends at a Global level, he anounced.

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- "With this new Toolbox, we do not want to serve Bankers, but to work for Europe and its Citizens' interests", added Juncker.

- "For the moment, we want to act urgently to regulate the Crisis. But the time will come when those responsible for this, will have to account for their actions. Yes to real Capitalism, No to Speculators. Those who abused, will face sanctions, Sarkozy warned.


Need stimulates activities which create new organs, say biologists, and Gordon Brown, compatriot of Spencer, the famous bio-Historian, would certainly not deny that, after his surprise visit to EuroZone's Summit in Paris, which attracted him one hour more than scheduled...

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Decisions include also the creation of a Crisis-management European mechanism, which "requires constant Monitoring", as well as strengthening Economic policy cooperation between EuroZone's countries.

Sarkozy will be judged by History not just by the immediate Economic results, expected at the end of this week's decision-making proces at National and EU level, but also by the more far-reaching consequences at the aftermath of this Historic EuroZone 1st Summit : Will it succeed to become a precursor forging a New era in European institution's revitalization ?

Significantly, the French President sat, during discussions, between German Chancelor Merkel, and British Prime Minister Brown, facing the chairmen of EuroGroup, Juncker, ECB : Truchet, and EU Commission, Baroso, with Prime Ministers of Spain, Zapatero (a hot partisan of EuroZone's Summit) at his right side, and Italy's Berlusconi, at his left, surrounded by Austrian, Belgian, Cyprus', Finland's, Greece's, and Ireland's leaders, as well as Slovakia's, Slovenia's, Portugal's, Netherlands', Malta's and Luxembourg's leaders.

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Meanwhile, those who tabled for a rift between French and German positions were faced with a smiling Merkel at De Gaulle-Adenauer's meeting place, a sunny Saturday morning, and a particularly active-looking Merkel inside the French Presidential Palace at Elysee's gardens on Sunday, (as happy few photographers discovered)..

- "De Gaulle's hilltop, at Colombey-les-2-Eglises, gave an astonishing overview to a huge landscape, entirely surrounded by splendid Nature, as far as eyes could see", said to EuroFora an obviously charmed German Journalist.

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She was describing Saturday's inauguration of a High-Tech Memorial close to the Historic Giant Double Lorraine's Cross, built by famous Novelist Andre Malraux, to perpetuate the Memory of his famous call for "Resistance" to NAZI, and his vision for the creation of New Institutions and Franco-German reconciliation, to foster Europe's role in the World, also for the Future.

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Children playing at Elysee's gardens before the Historic 1st EuroZone's Summit : What Europe's Future will look like ?


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