Energean signs further gas sales contracts, moves closer to FID for Karish and Tanin fields

12/7/2017

ATHENS -- Energean Oil & Gas has announced that Energean Israel has signed further Gas Sales and Purchase Agreements (GSPAs) for natural gas supply from Karish and Tanin fields, offshore Israel.

GSPAs totaling up to 2.6 Bcm of natural gas annually have been signed with one of the largest industrial groups in Israel, comprising Israel Chemicals, Bazan Oil Refineries and the independent power producer OPC. In addition, a GSPA totaling up to 0.3 Bcm has also been signed with Rapac Group, a leading group focusing on Telecom, Government and Energy & Infrastructure in Israel.

The new GSPAs, together with those already signed with Dalia Group, Dorad Group and Edeltech Group, bring the annual total committed purchase volume to more than 4 Bcm per year of natural gas from Karish and Tanin fields, providing further momentum to progress to FID, targeted for early 2018.

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