Greek energy firm Energean Oil & Gas SA said on Dec. 7 it has signed additional agreements for the supply of natural gas from the Karish and Tanin fields off Israel’s coast with subsidiaries of the Israel Corp. conglomerate.
Agreements for the supply of up to 2.6 billion cubic meters (Bcm) of natural gas annually were signed with Israel Chemicals Ltd. (NYSE: ICL), Oil Refineries Ltd. and the independent power producer OPC.
Israel Chemicals said separately that Energean would supply it with up to 13 Bcm of gas for up to $1.9 billion over 15 years.
In addition, an agreement for up to 0.3 Bcm was signed with energy and infrastructure focused Rapac Communication & Infrastructure Ltd.
The new agreements, together with those already signed with Dalia Group Inc., Dorad Group and Edeltech Group Inc. bring the annual total committed purchase volume to more than 4 Bcm a year of natural gas from Karish and Tanin.
“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,” Mathios Rigas, Energean’s CEO, said.
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