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Energean signs $100 Million deal with the Israeli Natural Gas Lines

The $100 million deal is for the near-shore and onshore part of the infrastructure that will deliver gas from the Karish and Tanin fields into the Israeli national gas transmission grid. Israel Natural Gas Lines is the governmentally owned company in charge of the gas transport system. The INGL will be responsible for operation and maintenance of Karish and Tanin infrastructure.

After the MOU has been signed, the agreement is supposed to be signed in the first quarter of 2019.

“Our collaboration with Israel Natural Gas Lines demonstrates the Israeli government’s support and commitment to the Karish Tanin project, from which natural gas will flow to the Israeli market from the first quarter of 2021,” said Energean Chief Executive Mathios Rigas to Morning Star.