Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Noble Energy    NBL

NOBLE ENERGY

(NBL)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Noble Energy : Aphrodite consortium close to gas deal with Egypt LNG plant

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/10/2018 | 05:27am EDT

US, Israeli and British interests in the Aphrodite field are close to striking a deal with Egypt to pump Cyprus natural gas to the Idku LNG plant.

Commercial negotiations are underway between the companies owning the Aphrodite gas (Noble Energy, Delek, Shell) and the LNG plant in Egypt, Cypriot Foreign Minister Nicos Christodoulides told Egyptian newspaper Al Akhbar.

What I can say is that these negotiations are advanced and very close to conclusion, paving the way for the commencement of the implementation of the gas pipeline, he added.

Last month, Nicosia and Cairo signed an inter-state agreement opening the way for the Mediterraneans first subsea pipeline to carry Cyprus natural gas to Egypt for re-export to Europe.

The agreement was crucial in efforts of both countries to channel gas from the islands Aphrodite reservoir to Egypt and attract multi-billion infrastructure investments.

Texas-based Noble Energy in 2011 made the first discovery off Cyprus in the Aphrodite block estimated to contain around 4.5 trillion cubic feet of gas but it has yet to be extracted.

But the Aphrodite consortium including Israel`s Delek and Royal Dutch Shell - seeks to renegotiate its contract on the gas field before it plans to tap the gas.

It is currently in talks with the Cypriot government over a bigger share of the profits to make the project viable.

The discovery of nearby Egypts huge Zohr offshore reservoir in 2015 has stoked interest that Cypriot waters hold the same riches.

Construction of the pipeline depends on how fast commercial agreements advance with the investors.

Cyprus aims for natural gas to start flowing to Egypts LNG facility in 2022, therefore generating its first revenue from natural gas in the same year.

Christodoulides said the gas pipeline agreement constitutes a milestone, not only for the relations between the two countries but also for the whole region.

In essence, the agreement puts in place the necessary legal framework, facilitating the conclusion of the commercial negotiations between the companies owning the Aphrodite gas and the Idku LNG plant.

He said the pipeline will benefit both the Cypriot and the Egyptian economy enormously, not only by securing revenues from the hydrocarbon exploitation but also by creating jobs, attracting foreign direct investment, building the necessary infrastructure and contributing to the energy security of the wider region.

(c) 2018 Saudi Research and Publishing Co. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
NOBLE ENERGY 3.63% 24.87 Delayed Quote.32.57%
ROYAL DUTCH SHELL 0.25% 28.255 Delayed Quote.9.84%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NOBLE ENERGY
03/18NOBLE ENERGY : Egypt to receive Israeli gas by mid-2019
AQ
03/18Israel's Delek Drilling considers London IPO for Leviathan gas stake
RE
03/14EXXON MOBIL : said considering gas, oil exploration in Israel
AQ
03/13EXCLUSIVE : Exxon eyes Israel gas bid in major Middle East shift
RE
03/02EQUATORIAL GUINEA EXPECTS 2019 OIL P : minister
AQ
02/28Exxon's Cyprus gas discovery adds another giant to East Med collection
RE
02/26ARES MANAGEMENT : Oil and Gas Pipelines to Connect Permian Basin with Gulf Coast..
AQ
02/19NOBLE ENERGY : Management's Discussion and Analysis of Financial Condition and R..
AQ
02/19NOBLE ENERGY : Sees Most 2019 Organic Capital Expenditures to Be in U.S. Onshore
DJ
02/19NOBLE ENERGY INC : Results of Operations and Financial Condition (form 8-K)
AQ
More news
Financials ($)
Sales 2019 4 512 M
EBIT 2019 474 M
Net income 2019 53,7 M
Debt 2019 6 707 M
Yield 2019 1,77%
P/E ratio 2019 85,76
P/E ratio 2020 20,54
EV / Sales 2019 4,15x
EV / Sales 2020 3,22x
Capitalization 12 027 M
Chart NOBLE ENERGY
Duration : Period :
Noble Energy Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NOBLE ENERGY
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 32,9 $
Spread / Average Target 32%
EPS Revisions
Managers
NameTitle
David L. Stover Chairman & Chief Executive Officer
Brent J. Smolik President & Chief Operating Officer
Kenneth M. Fisher Chief Financial Officer & Executive Vice President
Edward F. Cox Independent Director
Michael A. Cawley Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
NOBLE ENERGY32.57%12 027
CNOOC LTD13.65%78 976
CONOCOPHILLIPS8.32%76 618
EOG RESOURCES INC.9.95%55 621
OCCIDENTAL PETROLEUM CORPORATION9.58%50 414
CANADIAN NATURAL RESOURCES LTD14.57%34 106