Delek

Greece's Energean said on Sunday it signed contracts to supply up to 23 billion cubic meters of natural gas to private Israeli power stations from the Tanin and Karish gas fields off the coast of Israel.

In a move aimed at increasing competition in the Israeli electricity sector, Greek developer Energean Oil & Gas has secured its first gas supply deals for Israel’s Karish and Tanin reservoirs.

An Israeli company said on March 2 it has started exporting gas from an offshore field to Jordan, marking the country's first ever exports of natural gas.

The exports to Jordan began in January, Delek Drilling -- part of a consortium leading the development of Israel's offshore gas reserves -- told AFP.

Israel sees Turkey not only as a big market but also as a major economy in the region, Delek Group's Gas Pipeline Project Director Ofer Oberlander said Feb. 23.        

Greek company Energean Oil & Gas plans to build its own production system in the Eastern Mediterranean at a cost of up to $1.5 billion to tap two Israeli offshore gas fields, the group's chief executive said on Wednesday.

The Israeli partners in the Leviathan gas field said on Dec. 12 they approved a development plan for the field with a target production date for the end of 2019.

The plan, the group said in a statement to the Tel Aviv Stock Exchange, includes a first stage development for production of about 12 billion cubic meters (bcm) a year at a cost of $3.5-4 billion.

The Petroleum Council of Israel has approved the acquisition of 100 percent of the Karish and Tanin natural gas fields by Energean Oil & Gas from Delek Drilling and Avner Oil for $148 million.

Delek Drilling and Avner, both subsidiaries of Delek Group, were required by the government to sell off some assets in an effort to open the sector to competition.

The main Israeli partners developing the large Leviathan natural gas site said on Nov. 27 they signed commitment letters with HSBC and J.P. Morgan for up to $1.75 billion (1.65 billion pounds) of financing.

Delek Drilling and Avner Oil Exploration said the funds would go towards the A1 development stage of the project.

Noble Energy warned of the risk of a delay to the development of the Leviathan natural gas field off Israel's coast after Israel's Supreme Court blocked a crucial provision of a plan to develop the site.

Greek Cyprus has launched a third licensing round for offshore oil and gas drilling off the Mediterranean island's southern coast.

"The decision to launch this licensing round was based on the huge interest by international companies to carry out explorations offshore Cyprus despite the energy industry's not so favorable conditions," said government spokesman Nicos Christodoulides.