LNG

NewMed Energy, the Israel company formally known as Delek Drilling, said it was considering a floating liquefied national gas plant to further develop the Leviathan gas field offshore Israel in the East Mediterranean amid other gas developments in the region.

Oct 27 (LNGJ) - Israel and Lebanon were scheduled to sign a US-sponsored agreement on October 27 on maritime borders in the new natural gas basin of the Eastern Mediterranean. A statement said that the accord gives the Israelis rights to the Karish gas field that has just started production, while Lebanon will retain full rights in the nearby Qana field. The Qana field is expected to be operated for the authorities in Lebanon by French major TotalEnergies.

   The London Stock Exchange-listed Energean Plc, the operator of the Karish field offshore Israel, confirmed that first gas had been safely delivered on October 26. Energean said its floating production, storage and offloading (FPSO) platform and the sales gas pipeline had capacity of 8 billion cubic metres per annum. “We have delivered a landmark project that brings competition to the Israeli gas market, enhances security of energy supply in the East Med region and brings affordable and clean energy that will displace coal-fired power generation,” explained Mathios Rigas, Chief Executive of Energean.

Lebanon, the former ‘Switzerland of the Middle East’ and potential LNG importer, has Egypt standing by to help with supplies of pipeline natural gas as the nation ran out of hyrdocarbon fuel and cut power countrywide for a whole weekend with the situation expected to worsen.