The Egyptian Natural Gas Holding Company (EGAS) has launched a new international 2024 bid round for the exploration and exploitation of natural gas and crude oil in 12 blocks in the Mediterranean and the Nile Delta

This includes 10 offshore blocks and two onshore blocks, according to the Production Sharing Agreements (PSA) model, through Egypt Upstream Gateway (EUG) at https://eug.petroleum.gov.eg. The closing date for submitting bids is 25 February 2025.

Promising basin

This bid round is part of the Ministry of Petroleum and Mineral Resources' efforts to attract new investments to Egypt, in line with its strategy to exploit promising opportunities in the field of gas and oil exploration, especially in the Mediterranean Sea, which holds significant potential as a promising basin for natural gas. A slew of recent discoveries, including the giant offshore Zohr gas field, containing an estimated 30 TCF, have highlighted Egypt's potential.

Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, explained that the launch of this bid round for natural gas exploration supports Egypt's direction toward intensifying exploration activities in the Mediterranean, especially in light of the growing interest in achieving new discoveries and increasing natural gas production, which has become a crucial element in both the local and global energy mix.

The minister added that this is the eighth bid round of its kind to be launched using the latest digital tools through Egypt Upstream Gateway (EUG), which the ministry launched at the beginning of 2021. This provides seamless access to the essential and all updated technical data related to bid rounds, speeding up the process of evaluating investment opportunities and submitting bids.

A potential global gas supply shortfall along with the likelihood of failing to meet sustainability goals are highlighted in a new report from the International Gas Union, Snam and Rystad Energy, as energy demand continues to rise

The 2024 Global Gas Report (GGR) released at the ONS Conference, reveals that global gas markets are in fragile equilibrium, with supply growth limited while demand is expected to accelerate to 2.1% by the end of 2024.

Asia continues to be the key engine of the demand growth, while North America and the Middle East are in the lead on the exports.

Should gas demand continue to grow as in the last four years, without additional production development, a 22% global supply shortfall is expected by 2030 the report says, underscoring the urgent need to scale up investments.

Energy demand has continued to rise in developed and developing regions, while coal burning increased more than ever in 2023, remaining the biggest source of global energy emissions. If current energy demand and supply trends persist, 2030 targets outlined in policy driven decarbonisation scenarios will most likely be missed. Despite efforts to enhance efficiency and ongoing industrial decline, Europe has experienced energy demand growth. In North America, energy demand has surpassed 2019 levels and continues to climb, fuelled by the transport sector and AI data centres. Asia's demand is also surging, particularly in the industrial sectors of India and China. Meanwhile, Africa's energy demand is growing faster than in most regions, driven by urban development, though it still falls short of the levels required for full energy access.

Enhanced investment in natural gas needed

To contain the growth of greenhouse gas emissions and to make global gas market equilibrium resilient, it is critical to both enhance investment in natural gas supply and scale up biomethane, carbon capture and storage (CCS), and low-carbon hydrogen technologies, the report says. Natural gas today provides an immediate opportunity to cut emissions from coal by 50% and from oil by 30% through cost-effective switching. Biomethane is a direct substitution for natural gas. Today, its scale is significantly below potential at roughly 1% of the natural gas market, and it is primarily produced in North America and Europe. However, new centres of production are emerging in hubs like China and India. CO2 capture capacity, a crucial technology for a successful energy transition, is also gaining momentum, but needs to be scaled up, as for biomethane and low-carbon hydrogen. These technologies will play a critical role in decarbonising energy supply (especially in hard-to-abate sectors) and ensuring its resilience. Scaling them is essential, requiring urgent investment and enabling policies to start building the growing volumes of project proposals.

IGU president, Mme Li Yalan, commented, “Energy and gas demand continue to grow, driven by improving living standards in the developing world, new demand trends, and ongoing growth in developed regions. We must look for a realistic way to balance these trends with long-term sustainability goals, such as building a diversified energy system, and comprehensive approaches to tackle climate change. Embracing innovative solutions and flexible policies will be key to navigate this highly uncertain energy landscape.”

Snam CEO, Stefano Venier, said, “The energy transition represents a unique challenge for mankind. A journey that will not be linear, marked by great aspirations and many hurdles, from geopolitical tensions to technology disruptions and unforeseeable global economy developments. In this continuously evolving transformation, natural gas and related infrastructure represents a critical element of sustainable resiliency for the global energy system, while new green and low carbon molecules will play an essential role to achieve a just and technologically neutral transition.”

Rystad Energy CEO, Jarand Rystad, added, “Natural gas, now 30% of the fossil fuel mix, is cheaper and cleaner than oil and coal, with emissions significantly lower than both. As global LNG access expands, natural gas is on track to surpass coal by 2030 and oil by 2050.”

Honeywell has launched a new process to improve the efficiency and sustainability of light olefin production

The naphtha to ethane and propane (NEP) technology generates a tunable amount of ethane and propane from naphtha and/or LPG feedstocks, generating more high-value ethylene and propylene with reduced production of lower-value by-products compared to a traditional mixed-feed steam cracking unit and resulting in net cash margin increases. An NEP-based olefins complex also reduces CO2 intensity per metric ton of light olefins produced by 5 to 50% versus a traditional mixed-feed steam cracker.

More efficient production

“The petrochemical industry faces strong competition and challenges in obtaining raw materials globally,” said Matt Spalding, vice president and general manager of Honeywell Energy and Sustainability Solutions in MENA. “Our technology helps to enable more efficient production of ethylene and propylene, two chemicals which are in high demand, while also helping our customers lower their carbon emissions.”

The new solution is a part of Honeywell’s Integrated Olefin Suite technology portfolio to enhance the production of light olefins.

In the ever-evolving landscape of industrial asset management, particularly in the Middle East's demanding environment, the need for innovative solutions to protect valuable infrastructure has never been more critical.

Enter Iso-Smart, a groundbreaking product from GPT Industries that promises to transform how corrosion professionals monitor and maintain asset integrity.

The Middle East's oil and gas industry, with its vast networks of pipelines and facilities, faces unique challenges in corrosion prevention and asset protection. Traditional methods of data collection and analysis often fall short, leaving corrosion engineers with incomplete or outdated information. Iso-Smart addresses these pain points head-on, offering a comprehensive solution that could redefine asset monitoring in the region.

All-in-one asset monitoring system

At its core, Iso-Smart is an all-in-one asset monitoring system that provides real-time, accurate data on various critical parameters. From On Potentials and Instant Off testing to Coupon Testing and AC Monitoring, this innovative tool covers all bases. What sets it apart is its ability to not just collect data, but to analyse and interpret it, providing actionable insights that can optimise asset performance and longevity.

One of the most impressive features of Iso-Smart is its use of TRMS technology. This allows for the differentiation between DC and AC voltage, a crucial capability in understanding and mitigating the effects of AC interference – a growing concern in densely populated industrial areas common in Middle Eastern countries.

The system's remote monitoring capabilities are particularly valuable in the vast and often harsh terrains of the Middle East. Instead of relying on infrequent manual inspections, corrosion professionals can now access continuous data streams, receive instant alerts for critical events, and track trends over time. This not only enhances the effectiveness of corrosion prevention strategies but also significantly improves safety and efficiency.

Moreover, Iso-Smart's ability to provide specific customer reports goes beyond mere data provision. It offers a deeper understanding of asset conditions, enabling more informed decision-making and potentially leading to substantial cost savings in maintenance and replacement.

For the Middle East's industry leaders, adopting Iso-Smart could mean staying ahead in a competitive market. It represents a shift from reactive to proactive asset management – a crucial evolution in an industry where downtime and failures can have severe economic and environmental consequences.

As the region continues to invest in its infrastructure and aims for more sustainable industrial practices, tools like Iso-Smart will play a pivotal role. By providing comprehensive, accurate, and actionable data, it empowers corrosion professionals to optimise their assets, extend their lifespan, and ensure safer operations.

In conclusion, Iso-Smart appears to be more than just a new product; it's a potential game-changer for asset integrity management in the Middle East. As the industry faces increasing pressures to improve efficiency and sustainability, innovations like this will be key to meeting those challenges head-on.

www.gptindustries.com

More than 175 people, including senior representatives of the region's leading oil and gas companies, attended a very topical and engaging live webinar hosted by Oil Review Middle East entitled “Beyond Boundaries: Advanced Surveillance for Oil and Gas Remote Facilities”

Eve Pope, technology analyst at IDTechEx assesses developments in CO₂ utilisation, with the market forecast to grow to US$240bn by 2045

Carbon capture technologies capable of removing CO₂ from industrial emissions have been around for more than 50 years, but widescale deployment of CCUS (carbon capture, utilisation, and storage) has been too slow for global net-zero ambitions. While governments are beginning to implement carbon pricing mechanisms or tax credits to motivate permanent storage of CO₂ deep underground, a profitable business model exists beyond CO₂ sequestration via emerging CO₂ utilisation applications. According to the new IDTechEx research report, Carbon Dioxide Utilization 2025-2045: Technologies, Market Forecasts, and Players, sales from CO₂ utilisation will directly generate US$240bn in revenue in 2045.

Carbon dioxide utilisation technologies recycle captured CO₂. The new carbon-containing products can be sold to generate financial benefits while offering a reduction in carbon footprint. The leading destination of captured carbon dioxide today is enhanced oil recovery. However, there are many emerging areas of CO₂ recycling, including CO₂-derived concrete, CO₂-derived fuels (methane, methanol, kerosene, diesel, and gasoline), CO₂-derived chemicals, and CO₂ yield boosting applications (crop greenhouses, algae, and proteins).

Profitable production

Profitable production of CO₂-derived polymers has been around for decades. The total annual production capacity of polycarbonate resin using CO₂ utilisation technology has now reached about 1 million tonnes. Other essential plastics, such as polyethylene and PET, are starting to be made from CO₂ via thermochemical and biological conversion routes, with LanzaTech leading microbial innovation in this space. Drop-in chemicals such as CO₂-derived ethanol and aromatics are also being commercialised.

While potentially all carbon-containing chemicals could utilise carbon dioxide in production, those requiring non-reductive pathways are the most promising due to a smaller energy demand and lack of dependency on low-carbon hydrogen production. The IDTechEx report explores synthesis routes for chemical companies to use waste CO₂ as a green feedstock, displacing petrochemical products.

Decarbonising the aviation and shipping sectors

To date, alternative fuels have not achieved price parity with fossil fuels, inhibiting market uptake. However, increased market penetration of CO₂-derived fuels is expected to come from regulations already being put in place, such as fuel-blend mandates for long-haul transportation. As green hydrogen electrolyzer capacity scales up worldwide, production of e-fuels from carbon dioxide using power-to-x technology will also increase. These fuels are expected to play a role in decarbonising shipping and aviation as full electrification of the aviation and maritime sectors is currently unfeasible.

Several CO₂-derived fuels are already being commercially produced with many more commercial facilities expected over the next decade. The start of 2024 saw Mitsui and Celanese’s joint venture Fairway Methanol become operational, joining plants from Carbon Recycling International in producing over 100,000 tonnes per year of methanol made from captured CO₂. Other hydrocarbon fuels such as kerosene, diesel, and gasoline, which can be made via methanol or syngas intermediates, are also being ramped up. For example, Infinium’s Corpus Facility opened its doors this year, expected to produce thousands of tonnes per annum of CO₂-derived e-fuels.

CO₂-derived concrete

CO₂ utilisation can lower the carbon footprint of ready-mixed concrete, precast concrete, and carbonate aggregates/supplementary cementitious materials through CO₂ mineralisation reactions. Players already utilising over 10,000 tonnes of carbon dioxide each year in carbonates include O.C.O Technology and Greencore.

When CO₂ is permanently stored in concrete, performance is improved, and less cement is needed. Growth of CO₂-derived building materials will be driven by new certifications, superior materials performance, and the ability to achieve price parity through waste disposal fees and the sale of carbon credits.