1st
MARE  FORUM
CYPRUS 2012

Eastern Mediterranean Oil and Gas

 - Offshore Exploration, Production, Maritime Transportation, Maintenance, Investments and Finance -
 

Tuesday 12 June 2012
 

INTERCONTINENTAL APHRODITE HILLS RESORT HOTEL

Cyprus



In December 2011 Houston’s Noble Energy announced the results of their recent well in the Cypriot Economic Zone. It contains up to 9 Tcf of natural gas, a world class discovery.
The block, appropriately dubbed Aphrodite, the ancient goddess that was believed to be born in Cyprus, is likely to usher a hydrocarbon bonanza in the island nation, a member of the European Union and the site of a rich and tumultuous history, including an ongoing and unfortunately yet unresolved dispute with Turkey.

The size of the ultimate recoverable gas in the Easter Mediterranean, according to the United States Geological Survey, is of the order of 200 Tcf of natural gas and at least 7 billion barrels of oil. Israel has already booked about 50 Tcf and a dozen new Cypriot blocks, currently in the process of being offered to international bidders, will almost certainly add 50 Tcf, perhaps 75 Tcf to the already discovered.

What is likely to happen next on the ground would be something like this:

The Tamar field in Israel is under fast-track development. Cyprus could proceed immediately to secure 100 MMscf per day of natural gas from that field. That amount of gas, enough for the current Cyprus power needs, can be transported with a relatively easy to place 8 in. pipeline for a cost of less than $1 billion. Natural gas could be coming to Cyprus within less than two years at a price that would cut electricity costs by at least 50%.
The next step for Cyprus might involve and focus on oil exploration in adjoining blocks. Cyprus should definitely push the limits of the USGS estimate of 3.7 billion barrels of petroleum. Oil discovery would prove strategic for the country and the area. Seismic mapping and some attributes suggest the presence of more oil towards Cyprus blocks, compared to those in the Israeli economic zone.

Israel’s giant Leviathan, now upgraded by Noble Energy to hold 20 Tcf of natural gas and Aphrodite, are likely to be unitized with Cyprus and Israel each getting a percentage of the operation (as equal shares or proportional to the gas content), to supply three LNG liquefaction trains in Cyprus for LNG export of 20 million tons per annum (MTPA). The fields are practically one and the same anyway, the boundary being an artifact of geography not geology. Two large, 36 in. pipelines will be needed to bring gas from the Leviathan and Aphrodite Fields to a Cypriot LNG liquefaction facility. This could happen within five to six years at an estimated cost of $15 billion.

Multiples of this development can take place and the international demand, headed by China, has all the indications that a lot more natural gas will be needed in the world over the next decades. There is no shortage of gas any time soon in the Eastern Mediterranean.


The shipping industry will profit a lot for the need of gas and oil transportation by sea.
 

On Tuesday 12 June politicians, executives from the oil, gas and shipping and maritime industries, trading and brokerage companies; key investors in shipping, bankers, consultants and entrepreneurs; classification societies, financial institutions, regulators and the media will gather at this prestigious conference where an exchange of views, visions and valuable information will make this forum another imperative and meaningful event.

This will take place in an open stimulated and free flowing ambiance, with open and informal discussions which are the hallmark of the Mare Forum formula.

 
Looking forward to welcoming you in Cyprus,

 

 

   

The Speakers and Discussion Panelists
(as of 10 June)

The list of speakers and discussion panelists will be daily updated
For the programme see below


Neoclis Sylikiotis
Minister of  Commerce, Industry and Tourism, Cyprus

George Shammas
Chairman, Cyprus Energy Regulatory Authority

Eugen Adami
President, Cyprus Shipping Chamber

Michael Economides
Professor, Cullen College of Engineering, University of Houston
Managing Partner, Dr. Michael J. Economides Consultants,
Editor-in-Chief "Energy Tribune

Solon Kassinis
Director of the Energy Service.
Ministry of Commerce, Industry and Tourism, Cyprus

Serghios Serghiou
Director, Department of Merchant Shipping, Cyprus

Philip Embiricos 
Past President, BIMCO
Director, Embiricos Shipbrokers Ltd.

John Z. Tomich
Cyprus Country Manager
Noble Energy

George Tsavliris
Chairman, INTERMEPA
President and member of the Board of Directors of CYMEPA
Principal, Tsavliris Salvage Group

Kenneth L. Richardson
Vice President, ABS

Modi Mano
Chief Investment & Finance Officer, Navig8 Group

Bernd Bluhm
Head of Pollution Preparedness and Response
European Maritime Safety Agency
(EMSA)

Darios Melas
Managing Director, EDT Offshore

Dr. Xiuli Wang
University of Houston

Marie-Françoise Renard
Offshore Sales & Marketing Director, Bureau Veritas

Giulio Tirelli
Director, Business Development - Merchant
Team Leader, Gas Development Team
Wärtsilä Switzerland Ltd

Foteini Kanellopoulou
Senior Analyst (Market Analysis), Clarksons


Wilhelm Magelssen
Shipping, Offshore & Energy Group,
Pareto Project Finance AS

Apostolos Poulovassilis
Regional Marine Manager, Europe, Middle East & Africa
(EMEA), Lloyd's Register

Prof. Michael Nikolaou
University of Houston

Janos Koenig
Managing Director, Eurofin International Ltd.

Alexander Economides
Director EPT, Cyprus

Dr. Leo Drollas
Director and Chief Economist, Centre of Global Energy Studies, London

Angelo Lo Nigro
General Manager, Energy Development, RINA

Leonidas Polemis
President, Remi Maritime

Leonardo Brunori
Chief Operating Officer, Business Solutions RINA Group

Dr. Demos Petropoulos
Managing Director, DPSS Global Consultants

Prof. P. Papanastasiou
University of Cyprus

Dr. Michael Ieridis
Secretary General of Cymepa

Philippos Philis
Shipowner

Nick Mitsos
CEO, XGas

Capt. Karayiotas Menelaos
Principal
Maritime training Centre

Bernhard Schulte Shipmanagement Ltd.

George Pamboridis
Pamboridis LLC

Jannis Kostoulas
Managing Director Mare Forum
 




 

   
Tuesday 12 June
08:00   Registration
 
09:00   Opening and welcome

Professor Michael Economides
Conference chairman
Professor, Cullen College of Engineering, University of Houston
Managing Partner, Dr. Michael J. Economides Consultants,
Editor-in-Chief "Energy Tribune"

Jannis Kostoulas
Organizer
Managing Director, Mare Forum

George Shammas
Chairman, Cyprus Energy Regulatory Authority

Eugen Adami
President of Cyprus Shipping Chamber

Philip Embiricos
Past President, BIMCO
Director, Embiricos Shipbrokers Ltd.
 

     Session 1

Demand and supply of Oil & Gas
 
     
    The Oil and Gas market outlook
Geopolitical considerations
Risks and rewards
09:40   Conference chairman:
Professor Michael Economides
Professor, Cullen College of Engineering, University of Houston
Managing Partner, Dr. Michael J. Economides Consultants,
Editor-in-Chief "Energy Tribune"
 
09:50   Solon Kassinis
Director of Energy for Cyprus
Ministry of Commerce, Industry and Tourism, Cyprus
 
10:00   Dr. Leo Drollas
Director and Chief Economist
Centre for Global Energy Studies
 
    Session 2

Exploration and Production in the Eastern Mediterranean basin
- challenges and opportunities –
 
     
10:10   Government Perspective and Industry Outlook
Neoclis Sylikiotis
Minister of  Commerce, Industry and Tourism, Cyprus
 
10:20  

John Z. Tomich
Cyprus Country Manager
Noble Energy

Representative
Delek Drilling and Avner Oil

Representative
Goldman Sachs, Israel
 

10:40   Discussion between the speakers, the Conference Discussion panellists and the Audience participants

The Conference Discussion Panelists

Darios Melas, Managing Director, EDT Offshore
Philippos Philis, Chairman, and CEO, Lemissoler Navigation
Alexander Economides, Director EPT, Cyprus
Modi Mano, Chief Investment & Finance Officer, Navig8 Group
Dimitris Lyras, Managing Director, Ulysses-systems
Dr George Pamboridis, Managing Partner, Pamboridis LLC Advocates and Legal Advisors
Leonidas Polemis, President, Remi Maritime (t.b.c.)
Dr. Demos Petropoulos, Managing Director, DPSS Global Consultants.
Prof. P. Papanastasiou, University of Cyprus
Dr. Michael Ieridis, Secretary General of Cymepa

 

11:30   Break
 
     Session 3

Ways of Energy Utilization
 
11:50   session chairman:
Kenneth L. Richardson
Vice President, ABS
 
12:00   Natural Gas Production
Dr. Xiuli Wang
University of Houston

Offshore Gas terminals: Technical Challenges
12:10   Angelo Lo Nigro
General Manager, Energy Development, RINA
 
12:20   Marie-Françoise Renard
Offshore Sales & Marketing Director, Bureau Veritas
 
12:30   LNG liquefaction and GTL
Prof. Michael Nikolaou
University of Houston
 
12:40   CNG
Nick Mitsos
CEO, XGas
 
12:50   Discussion between the speakers, the Conference Discussion panellists and the Audience participants

The Conference Discussion Panelists

Darios Melas, Managing Director, EDT Offshore
Philippos Philis, Chairman, and CEO, Lemissoler Navigation
Alexander Economides, Director EPT, Cyprus
Modi Mano, Chief Investment & Finance Officer, Navig8 Group
Dimitris Lyras, Managing Director, Ulysses-systems
Dr George Pamboridis, Managing Partner, Pamboridis LLC Advocates and Legal Advisors
Leonidas Polemis, President, Remi Maritime (t.b.c.)
Dr. Demos Petropoulos, Managing Director, DPSS Global Consultants.
Prof. P. Papanastasiou, University of Cyprus
Dr. Michael Ieridis, Secretary General of Cymepa
 
 

13:40   Lunch
     
     Session 4

Maritime Transportation the key
- infrastructure - Ships availability- finance/investments


 
     
14:40   session chairman:
Leonardo Brunori
Chief Operating Officer, Business Solutions RINA Group
 
14:50   Serghios Serghiou
Director, Department of Merchant Shipping, Cyprus
 
15:00   Shipping capacity needs
Foteini Kanelopoulou
Senior Analyst (Market Analysis), Clarksons
 

 
  Financing/investing the offshore and maritime energy transportation;
15:10   Janos Koenig
Managing Director, Eurofin International Ltd.
 
15:20   Wilhelm Magelssen
Shipping, Offshore & Energy Group,
Pareto Project Finance AS
 
15:30   Discussion between the speakers, the Conference Discussion panellists and the Audience participants
 
    The Conference Discussion Panelists

Darios Melas, Managing Director, EDT Offshore
Philippos Philis, Chairman, and CEO, Lemissoler Navigation
Alexander Economides, Director EPT, Cyprus
Modi Mano, Chief Investment & Finance Officer, Navig8 Group
Dimitris Lyras, Managing Director, Ulysses-systems
Dr George Pamboridis, Managing Partner, Pamboridis LLC Advocates and Legal Advisors
Leonidas Polemis, President, Remi Maritime (t.b.c.)
Dr. Demos Petropoulos, Managing Director, DPSS Global Consultants.
Prof. P. Papanastasiou, University of Cyprus
Dr. Michael Ieridis, Secretary General of Cymepa
 

16:10   Break
 
     Session 5

Investing in the environment
safe and clean exploration - production -transportation
 
     
16:30   session chairman:
George Tsavliris
Chairman, INTERMEPA
President and member of the Board of Directors of CYMEPA
Principal, Tsavliris Salvage Group
 
16:40   Prevention
Bernd Bluhm
Head of Pollution Preparedness and Response,
European Maritime Safety Agency, EMSA

 
16:50   Innovations
Apostolos Poulovassilis
Regional Marine Manager
Europe, Middle East & Africa (EMEA), Lloyd's Register
 
17:00   LNG propulsion systems and Clean air emissions
Giulio Tirelli
Director, Business Development - Merchant
Team Leader, Gas Development Team
Wärtsilä Switzerland Ltd
 
17:10   Manning & training imperatives
Capt. Karayiotas Menelaos
Principal, Maritime training Centre
Bernhard Schulte Shipmanagement Ltd.
 
17:20   Discussion between the speakers, the Conference Discussion panellists and the Audience participants

The Conference Discussion Panelists

Darios Melas, Managing Director, EDT Offshore
Philippos Philis, Chairman, and CEO, Lemissoler Navigation
Alexander Economides, Director EPT, Cyprus
Modi Mano, Chief Investment & Finance Officer, Navig8 Group
Dimitris Lyras, Managing Director, Ulysses-systems
Dr George Pamboridis, Managing Partner, Pamboridis LLC Advocates and Legal Advisors
Leonidas Polemis, President, Remi Maritime (t.b.c.)
Dr. Demos Petropoulos, Managing Director, DPSS Global Consultants.
Prof. P. Papanastasiou, University of Cyprus
Dr. Michael Ieridis, Secretary General of Cymepa
 

18:00   CONCLUSIONS

Professor Michael Economides
Conference chairman
Professor, Cullen College of Engineering, University of Houston
Managing Partner, Dr. Michael J. Economides Consultants,
Editor-in-Chief "Energy Tribune"

 
18:10   Drinks
 
     
     

 

 


 

 



 


 

INFORMATION
For further information on the conference please contact:

MARE FORUM
P.O. Box 3108
3003 AC Rotterdam
The Netherlands

Tel
: +31.10.842 57 97
Fax:
+31.10.844 99 69
info@mareforum.com