On December
7, Greece’s Energean Oil & Gas announced that Energean Israel has signed
further Gas Sales and Purchase Agreements (GSPAs) for natural gas supply from
the Karish and Tanin fields, offshore Israel.
“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,” Energean Oil & Gas CEO, Mathios Rigas said. “Some of
the leading private Israeli companies have seized the opportunity to buy gas at
an attractive price and Energean has brought competition to the market for the
benefit of Israeli consumers and the country’s economy,” he added.
According
to Rigas, these supply commitments, “surpassing our initial 3 bcm per year
target, demonstrate the strength of the local gas demand and we look forward to
unlocking the significant further potential of these fields. We are aiming to
progress with FID early in 2018 and our focus now lies in moving ahead on all
related project milestones to deliver first gas as planned”.
GSPAs
totalling up to 2.6 billion cubic metres of natural gas annually have been
signed with one of the largest industrial groups in Israel, comprising Israel
Chemicals, Bazan Oil Refineries and the independent power producer OPC,
Energean said, adding that also a GSPA totalling up to 0.3 billion cubic metres
has also been signed with Rapac Group, a leading group focusing on Telecom,
Government and Energy & Infrastructure in Israel.
The new
GSPAs, 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 per year of natural gas from the Karish and Tanin fields providing further
momentum to progress to FID, targeted for early 2018.
https://www.neweurope.eu/article/energean-inks-gas-sales-contracts-israeli-fields/