Greece’s Energean discovers natural gas reserve offshore Israel


(Worthy News) – Greek energy firm Energean has made a vast discovery of 28-42 billion cubic meters of natural gas at the North Karish field off Israel’s northwest coast, the company said on Monday.

The discovery is located not far from the company’s floating production storage and offloading unit, which aims for a total export capacity of 8 billion cubic meters per year.

Energean has already pre-sold some of the gas to independent Israeli power producer IPM Beer Tuvia in an agreement set to last 19 years and earn Energean $900 million. [ Source: Israel Hayom (Read More…) ]

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