CYPGasTech 2018 CYPGasTech 2018_e-Booklet | Page 22

Dr. Charles Ellinas – Presentation to be given by Mr. Christis Enotiades CEO eCNHC T: +357 97 705060 E: [email protected] T: +357 99 630284 E: [email protected] Charles Ellinas is CEO of e-CNHC which offers advisory services and project management in the energy and oil and gas sectors, and provides a base from which to continue working in the hydrocarbons and energy sectors in Cyprus. Previously, as CEO of KRETYK he was responsible for implementing Cyprus government’s strategy for the development of its hydrocarbons sector, participation in the operation and management of new facilities for the monetization of hydrocarbons. He was previously a Director of Mott MacDonald and the Managing Director of Mott MacDonald’s Oil, Gas & Petrochemical business world-wide, with over 35 years experience in the sector. He was responsible for overall management and providing a focus for the Group’s oil, gas and petrochemicals engineering design, techno-economic studies and project management activities worldwide. This work won recognition through major awards, such as the 2006 British International Expertise Awards, for major projects, for the Cawthorne Channel Gas Gathering Project for Shell in Nigeria and the Engineering Achievement Award at the 2011 Oil & Gas Middle East Awards, for the Enhanced Oil Recovery (EOR) project at the Qarn Alam heavy crude oil field in Oman and the Offshore Project of the Year Award at the 2012 Oil & Gas Middle East Awards for the Zakum Water Injection project. Charles joined Mott MacDonald in 1987 as co- founder and Managing Director of subsidiary Advanced Mechanics & Engineering Ltd (AME), which specialised in analysis and engineering design services of North Sea offshore structures and pipelines. AME was integrated into Mott MacDonald in 1993. He started his career in industry with JP Kenny, specialising in subsea engineering and pipelines, where he was Manager of Technical Development until he left in 1987 to set up AME. Charles Ellinas is a Non-resident Senior Fellow, US Atlantic Council. "Economic and Political Environment in East Med Gas Industry" The world is seeing growing competition between different energy sources, driven by abundant energy supplies, and continued improvements in energy efficiency and an ever-increasing penetration by renewables. Abundant and diversified energy supplies are making the marketplace challenging, by keeping global energy prices low now and in the longer-term. As a result, competitive pressures within the global energy markets are intensifying. Global natural gas demand, including LNG, is expected to increase by a third over the next 20 years provided prices remain competitive. Global energy is fast-changing, creating uncertainties on how the oil and gas sector’s future will evolve. The world has been moving from energy scarcity to abundance. These developments also affect the East Med. During 2017, Egypt adopted an energy sector reform programme that has already benefited its energy sector. With the development of Zohr and other smaller gasfields Egypt has become self-sufficient and expects to resume LNG exports early 2019. In contrast, Israel’s quest for gas exports depends on securing firm gas-sales deals for exports to Turkey, Egypt and Europe. All these projects face major political and commercial problems. In Lebanon exploration is about to start by Eni, Total and Novatek in the promising block 9, but this includes an area disputed by Israel. Cyprus is again considering Aphrodite gas exports, and drilling is about to start by ExxonMobil in the promising block 10. But with the Cyprus problem unresolved, Turkey will continue harassment of drilling activities and may increase tension by drilling in Cyprus’s EEZ. Finding gas in the East Med is proving easier than selling it. But exporting gas outside the region is still challenged by persistently low global gas prices, which are expected to stay low for the longer term. The future for East Med gas exports may be through integrated projects, to minimise costs, and LNG.