Energean urges new natural gas export routes from Israel to Egypt and Cyprus

10:23 - 29 November 2024

Companies

Energean CEO Mathios Rigas has called on governments to develop new export routes from Israel to neighbouring Egypt and Cyprus, as he urged Israel to issue new offshore oil and gas exploration licences to meet rising demand in the region.

"One thing we need is to have a discussion with the (Israeli) government about new licences and more exploration, because we need to find more gas. We need to develop more gas," Rigas told Reuters.

Announcing its results on 29 November, Energean said it produced 153,000 barrels of oil equivalent per day in the first 10 months of the year, including 112,000 boed in Israel, where it operates an offshore production vessel from the Karish and Tanin fields.

The London-listed company is also developing the Katlan field in Israel, which it expects to start gas production in the first half of 2027.

Israel is connected to Egypt and Jordan by several pipelines, but requires more export routes to deliver gas to Cyprus and more to Egypt, Rigas said.

Energean urges new natural gas export routes from Israel to Egypt and Cyprus

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