Karish and Tanin to supply Cyprus

Energean announced earlier this month that it is seeking approval to build a pipeline from its Karish and Tanin fields to the shores of Cyprus from the Cypriot government. The company has already contracted 4.2bcm p.a. from its fields with Israeli buyers and is progressing with further gas supply contracts. The Karish and Tanin project has already been sanctioned, so further supply contracts are not necessary for FID but will strengthen the commercialisation...

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Aphrodite gas: lover's quarrel

Aphrodite is owned by Noble (35% operator), Delek Drilling (30%) and Shell (35%). The field lies in Block 12, offshore Cyprus and was discovered in 2011. BG Group farmed into 35% from Noble Energy in November 2015 for USD165 million following declaration that the field was commercial in June 2015. As reported earlier, Shell intends to use Aphrodite gas to supply ELNG, but this has now faced a new hurdle. Cyprus and Israel are arguing...

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Double success for Energean – IPO and FID

Energean put the East Med on the map this week propelling the region into the headlines. Energean debuted on the London Stock Exchange at the beginning of this week with its Initial Public Offering and USD460 million of new money putting the company’s market capitalisation at just under USD1 billion. The company’s flagship asset is its 70% stake in the Karish & Tanin gas fields offshore Israel which contain 2.4tcf of gas and 33mmboe of light...

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