Energean enters nearshore Karish/Tanin gas arrangement

Energean has signed a memorandum of understanding with Israel Natural Gas Lines concerning the Karish/Tanin gas fields development offshore Israel.

Offshore staff

ATHENS, GreeceEnergean has signed a memorandum of understanding with Israel Natural Gas Lines (INGL) concerning the Karish/Tanin gas fields development offshore Israel.

Energean will receive $98 million to construct and transfer to INGL the nearshore and onshore facilities that will deliver gas from the FPSO to Israel’s national transmission grid.

The nearshore section of the pipeline will extend to around 10 km (6.2 mi) offshore, with hand-over to INGL due soon after the delivery of first gas from Karish in early 2021.

Thereafter, while INGL will be responsible for operation and maintenance of this part of the infrastructure, Energean will not incur any charges or tariffs for use of these facilities. A detailed agreement should follow in 1Q 2019.

Eitan Padan, INGL’s chairman, said the MoU would contribute to the development of the INGL Marine transmission system project, ‘Maagarim,’ also enabling other future fields to connect to the INGL transmission grid.

“With further adaptation, the system will be able to serve for Israeli gas export to future destinations as well.”

12/17/2018

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