World news Bookmark and Share

12.01.2017 15:52
Greece's Energean Sets 2020 Target for Gas Supplies to Israel
The cost of developing the two adjacent fields is estimated at USD 1.3 billion to USD 1.5 billion and expected financing to be complete by the end of this year

  • © Energean

Greek-based Energean expects to begin production from the Karish and Tanin gas fields offshore Israel in 2020, according to executive chairman Mathios Rigas., as quoted by Platts

Speaking at a press conference in Tel Aviv Wednesday, Rigas estimated the cost of developing the two adjacent fields at USD 1.3 billion to USD 1.5 billion and expected financing to be complete by the end of this year. The Israeli project is the largest to date for the Greek company which is currently active in Greece, Egypt and Montenegro.

The Israeli government approved the acquisition of the two licenses by Energean in late December at a price tag of USD 148 million. The Greek company purchased the two licenses from Noble Energy Inc and Israel's Delek Group, who were required to sell them as part of the government's new framework for the gas sector approved in May of last year.

Under the terms of the sale, all output from the two fields, with estimated resources of 2.4 Tcf of gas and 25 million barrels of light crude, is earmarked for the domestic market. At present the Tamar offshore field is the sole supplier to the domestic market.

TAGS: Energean | investment | oil | gas | Israel | Tamar | Karish | Tanin 

All world news

No published comments
Login to comment


20.03.2022  Teodor Bobochikov, Managing Partner, V-Ridium
Energy Transformation – Trends and drivers
Full text


No records in this category!


What kind of transport do you use to get to work?


We use cookies to ensure we give you the best browsing experience on our website. Find out more on how we use cookies and how you can change your settings.


What are cookies ?

A cookie is a small text file that a website saves on your computer or mobile device when you visit the site. Cookies are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the site.

How do we use cookies?

Website use Google Analytics, a web analytics service provided by Google, Inc. ("Google") to help analyse the use of this website. For this purpose, Google Analytics uses"cookies", which are text files placed on your computer.

The information generated by the cookies about your use of this website - standard internet log information (including your IP address) and visitor behaviour information in an anonymous form - will be transmitted to and stored by Google including on servers in the United States. Google will anonymize the information sent by removing the last octet of your IP address prior to its storage.

According to Google Analytics terms of service, Google will use this information for the purpose of evaluating your use of the website and compiling reports on website activity.

We not use, and not allow any third party to use the statistical analytics tool to track or to collect any personally identifiable information of visitors to this site. Google may transfer the information collected by Google Analytics to third parties where required to do so by law, or where such third parties process the information on Google`s behalf.

According to Google Analytics terms of service, Google will not associate your IP address with any other data held by Google.

You may refuse the use of Google Analytics cookies by downloading and installing Google Analytics Opt-out Browser Add-on. The add-on communicates with the Google Analytics JavaScript (ga.js) to indicate that information about the website visit should not be sent to Google Analytics.

Cookies are also used to record if you have agreed (or not) to our use of cookies on this site, so that you are not asked the question every time you visit the site.

Google Analytics Opt-out Browser Add-on

How to control cookies?

You can control and/or delete cookies as you wish. You can delete all cookies that are already on your computer and you can set most browsers to prevent them from being placed.

All about cookies

Managing cookies in your browser

Most browsers allow you to:
  • see what cookies you have got and delete them on an individual basis
  • block third party cookies
  • block cookies from particular sites
  • block all cookies from being set
  • delete all cookies when you close your browser

If you chose to delete cookies, you should be aware that any preferences will be lost. Also, if you block cookies completely many websites (including ours) will not work properly and webcasts will not work at all. For these reasons, we do not recommend turning cookies off when using our webcasting services.