The number offshore drilling sites are increasing. Now Egypt has opened its mediterranean sea for offshore gas drilling.
Egypt Offers Natural Gas Exploration Permits in Mediterranean
By Maher Chmaytelli
Sept. 26 (Bloomberg) -- Egypt is offering seven offshore exploration permits in Mediterranean areas potentially rich in natural gas, as the nation seeks to meet rising consumption.
Companies have until Feb. 9 next year to submit bids, the state-run Egyptian Natural Holding Co. said on its Web site. The nation also held a permit auction in March.
Egypt's gas consumption is growing at a rate of 10 percent a year, according to BP Plc. The nation in June said it won't sign new gas exports agreement until 2010.
The country began exporting gas in 2003 by pipeline to Jordan and this year started piping gas to Israel and Syria. It has also since 2005 exported liquefied natural gas to Europe, in cooperation with Spain's Union Fenosa SA, a unit of Italy's Eni SpA, and BG Group Plc.
LNG is gas cooled to a liquid to allow its transportation by ship to destinations not served by pipelines. Spain, France, Italy and the U.K. are Egypt's main LNG clients.
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