Just in time to supply the EU, the newfound energy production should also incentivize competition in Israel’s markets, reducing energy prices and ultimately, reducing prices to everything else.
By ROMAN MEITAV
Energean’s floating gas production rig, Energean Power, has arrived in Israel, mooring near the Shark gas reservoir, about 80 km off the coast of Haifa.
Energean, which holds the gas production licenses from the “Shark(Karish)” and “Crocodile(Tanin)” reservoirs, announced the arrival on Saturday.
Energean will immediately begin anchoring and connecting the rig to the gas wells and piping networks and begin the initial run of various system
The company estimates that commissioning operations will last about 3-4 months until the first gas flow is achieved, which is expected in the third quarter of 2022. Continue Reading »