East Med gas producers show caution and commitment

Dr Carole Nakhle, CEO of Crystol Energy, is quoted in this article from the Petroleum Economist Media Network commenting on the gas outlook in the East Mediterranean region.

According to Dr. Nakhle, only when Chevron acquired Noble Energy in 2020 that Israel saw the first major international company. She added that there is a difference in companies’ attitudes towards risk between a project that already passed its Final Investment Decision (FID), let alone is producing, and exploration plans as in the latter case the risk is more pronounced. Then, one has to add the source of capital and the home country of the investing actor, which could be subject to investing in Israel.

Regarding her outlook on Egyptian gas, Dr. Nakhle cautioned that Cairo needs to do more to encourage exploration to increase the chance of new discoveries and thus boosting exports as well as meeting growing domestic gas demand.

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