According to Energean, a consideration, INGL will pay Energean 369 million Israeli New Shekels, approximately $102 million, which will be paid in accordance with milestones detailed in the Agreement.
“The Agreement signed with INGL is an important milestone for the Karish and Tanin development, which will start flowing natural gas to the Israeli market in the first quarter of 2021,” Energean CEO Mathios Rigas said. “This demonstrates the commitment of the Israeli government to the project, and to long-term development of gas resources offshore Israel. The infrastructure being built by Energean will enable connection of future gas discoveries to the system, further contributing to Israel’s energy security and diversity of supply. We thank INGL management and professional team for the collaboration – we look forward to developing more projects together in the future,” he added.
Full article available: https://www.neweurope.eu/article/greeces-energean-israels-ingl-ink-infrastructure-hand-over-deal/