The government anticipates oil and gas extraction, which made Norway one of the world's wealthiest nations, will naturally decline by 65% by 2050
Natural Gas
Amid maritime boundary disputes in the E. Mediterranean & after a 2020 gas field discovery the Black Sea, Turkey’s state-owned oil & gas company finalizes the deal
Greece, Cyprus & Israel have approved an agreement for the Eastmed pipeline, which has been in planning for several years
In 2021, a market test will be carried out to double the transport capacity of the TAP pipeline to 20 billion cubic meters per year
EastMed will carry 10 bln m3 of gas per year, with an extension capacity of 20 bln m3 per year
The EastMed-Poseidon Pipeline Project will direct connect the East Mediterranean gas to Europe
Turkey's and its conduct encroaches on Egyptian interests
"This very satisfactory result of the binding phase constitutes a critical step towards the materialization of the project"
The cataclysmic collapse will resonate through the energy industry from giants like Exxon Mobil to smaller shale drillers in Texas
The company will hold 75% of the exploratory drilling and exploitation rights in Block 2