Petroleum production

Greece's natural gas export potential will be quadrupled by the end of the decade, with new infrastructure projects such as the Alexandroupoli floating liquefied natural gas (LNG) terminal, an increase in the capacity of the Trans-Adriatic Pipeline (TAP) and the new Greece-North Macedonia pipeline that is entering the construction phase, Deputy Minister of Environment and Energy Alexandra Sdouk

Türkiye's natural gas import declined by 39.2 percent in June from a year ago to 2.33 billion cubic meters, the Energy Market Regulatory Authority (EPDK) has informed.

LNG imports fell 18 percent to 462 million cubic meters, while imports via pipelines were down 43 percent to 1.87 billion cubic meters.

All the leading business media outlets reported yesterday that the price of natural gas in Europe has sharply risen by 40 percent, which is a sign that a chasm of energy uncertainty and insecurity could once again open beneath the old continent.

Rising gasoline prices in Greece are fueling fears of persistent high inflation.

In the next two years the Greek-owned fleet is likely to shrink, halting its development course, Petrofin Research forecast in its annual report regarding the course of Greek shipping in 2022.

Türkiye imported 3.98 billion cubic meters of natural gas in April, down 2.1 percent from the same month of 2022, data from the Energy Market Regulatory Authority (EPDK) have shown.

Gas import via pipelines fell nearly 5 percent to 3.28 billion cubic meters, while the country's LNG purchase increased almost 14 percent from April last year to 698,000 cubic meters.

The cost of the emergency measures Greece bore for the energy shielding of Europe, taken by the Commission in the midst of the panic over a complete stoppage of Russian gas exports, came to more than 300 million euros.

Cyprus' Energy Minister George Papanastasiou stated on Thursday that, during his discussions with consortiums operating in the Cypriot exclusive economic zone (EEZ), he suggested the option of importing natural gas quantities from the EEZ for power generation, in combination with LNG exports via a small LNG plant.

Gas producer Energean is looking at options to increase the capacity of its floating production storage and offloading (FPSO) vessel off Israel to 12 billion cubic meters (bcm) a year, CEO Mathios Rigas told Reuters on Thursday.

Foreign Minister Mevlüt Çavuşoğlu described their meeting with his Egyptian Sameh Shoukry as "open and sincere" and said the process has begun to raise the bilateral relations to the level of ambassadors.