Floating production storage and offloading
Greek energy firm Energean has made a vast discovery of 28-42 billion cubic meters of natural gas in the North Karish field off Israel's northwest coast, the company said on Monday.
The discovery is located not far from the company's floating production storage and offloading (FPSO) unit, which aims for a total export capacity of 8 billion cubic meters per year.
Cyprus got a fillip over the weekend when partners exploiting a natural gas field off the island announced that the Aphrodite field is viable and could yield up to eight eight billion cubic meters (bcm) a year.
The news also included plans for the construction of a pipeline to Egypt, Reuters reports out of Jerusalem.