The Karish gas field will be connected to the Israel National Gas Line, Energean announced on Wednesday. According to Energean CEO Mathios Rigas, the move is a milestone in facilitating the operational readiness of the Karish field's development.
The connection between Energean's land-based system at Dor Beach on Northern Israel's coast and the INGL delivery system was completed by welding together two 30 in. (77 cm.) diameter pipe sections. the gas will flow from the Karish field to the Energean power Floating Production Storage and Offloading vessel, located 90 km. offshore, where production output will be processed.
Energean is an international hydrocarbon exploration and production company focusing on natural gas, with operations in eight countries across the Mediterranean and UK North Sea. Founded in 2007, the company is listed in the London and Tel Aviv stock exchanges. Its assets are estimated to be $4.1 billion, according to the company's 2021 report.
"This is another significant moment bringing us closer to the delivery of First Gas from our flagship Karish development and is a testament to the hard work of our employees," Rigas said. This connection, he added, will be "providing enhanced security of supply for both Israeli and regional gas consumers while bolstering Energean’s position as a low carbon energy producer, driving the energy transition in the wider Mediterranean.”
Karish gas field (shark reservoir) is a natural gas reservoir located in Israel's economic waters in the Mediterranean Sea. The rights to the field were sold to Energean in 2016 for $150 million.
