Energean signs more natgas supply deals with Israeli firms

TEL AVIV (Reuters) — Greek energy firm Energean Oil & Gas said on Thursday it has signed additional agreements for the supply of natural gas from the Karish and Tanin fields off Israel’s coast with subsidiaries of the Israel Corp conglomerate.

Photo courtesy of Energean.

Agreements for the supply of up to 2.6 Bcm of natural gas annually were signed with Israel Chemicals, Oil Refineries and the independent power producer OPC.

ICL said separately that Energean would supply it with up to 13 Bcm of gas for up to $1.9 B over 15 yr.

In addition, an agreement for up to 0.3 Bcm was signed with energy and infrastructure focused Rapac Group.

The new agreements, together with those already signed with Dalia Group, Dorad Group and Edeltech Group, bring the annual total committed purchase volume to more than 4 Bcm/yr of natural gas from Karish and Tanin.

“In just one year since the Israeli government granted its approval for the acquisition of the Karish and Tanin fields, Energean has succeeded in securing its targeted gas supply volume to help de-risk the project,” CEO Mathios Rigas said.

Reporting by Tova Cohen

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