INTERVIEW: Israel’s domestic gas needs hold sway ahead of latest exploration round - S&P Global

January 23, 2026
Matt Hoisch

Even as producers push to expand gas exports from Israel following a decade of dramatic growth that has seen it morph into a key regional supplier, domestic needs remain a priority for the country ahead of its fifth offshore gas exploration round, Israel's Petroleum Commissioner at the Ministry of Energy and Infrastructure told Platts, part of S&P Global Energy, in a recent interview.

"Israel is a developed country, but we're still emerging," Chen Bar-Yosef said. "We think we should have more gas findings and exploration in order to make sure that for the long run we are ready, and we have our sufficiency of supply for all our needs."

Those needs are growing. One burgeoning driver is the artificial intelligence industry.

"Israel is and wants to be part of the AI world," Bar-Yosef said. "We think AI and AI data centers will come to Israel and therefore we want to be ready."

The commissioner was adamant electricity "should come first from renewables" with gas as "complementary."

Even so, annual domestic gas needs are projected to grow over the coming decade from some 14 Bcm to 20-24 Bcm by 2035, he said.

Energean seals $2 billion natural gas sale deal to supply Israel’s Dalia power plants - THE TIMES OF ISRAEL

23/1/2025
Sharon Wrobel

British-Greek oil and gas company Energean said Thursday it inked an agreement to supply natural gas to Israeli private energy producer Dalia Power Energies in a deal worth $2 billion, as it expects higher production in 2025 bolstered by increased electricity demand in the country.

As part of the deal, Energean will supply natural gas of up to 12 billion cubic meters (bcm) for a period of 18 years from the Karish natural gas field located off Israel’s Mediterranean coast to Dalia Power’s Dalia and Eshkol power plants. Dalia Power Energies supplies about 16% of Israel’s electricity produced from natural gas, according to its website.

“Over the past year we have agreed more than $4 billion in new long-term gas sales agreements in Israel, including the new $2 billion binding terms with Dalia Energy… bringing the total contract value close to $20 billion,” said Energean CEO Mathios Rigas. “With the region’s gas demand continuing to grow from increasing electricity demand and the phasing out of coal, we are well positioned to add new long-term agreements, including potential export contracts, to further grow sales.”

Energean CEO: Israel is sole energy independent Mediterranean country - GLOBES

20 Dec, 2023 11:17
Netanel Ariel

At the Israel Business Conference, Mathios Rigas praised Israel's energy policy, and said there was no point in keeping gas in the ground.

"Energy independence is important regardless of whether there’s a war or not. Israel is the only Mediterranean country that is energy independent. The mistake that the Europeans made is that they handed the energy keys to President of Russia Vladimir Putin, and when war broke out, gas prices skyrocketed. But in Israel, they remained stable," Mathios Rigas, CEO of energy company Energean (LSE: ENOG), said yesterday at the Globes Israel Business Conference. Energean owns the rights in the Karish and Tanin gas reservoirs off Israel’s coast.

"The biggest challenge we face in Europe is that if there’s a cold winter and there’s any disruption to the gas supply, gas prices in Europe will soar again, and inflation will rise," Rigas warned. "The reason is that there has been no investment in gas production. That’s the great advantage that Israel has today," he added.

Israel officially recognizes Energean’s Katlan reservoir as natural gas discovery - THE TIMES OF ISRAEL

1 June 2023, 3:24 pm
Sharon Wrobel

Israel’s Energy Ministry officially classified an offshore natural gas reserve explored by British-Greek oil and gas company Energean as a discovery, paving the way for its development.

National infrastructure, Energy, and Water Minister Israel Katz on Wednesday granted Energean the recognition of the oil commissioner Chen Bar Yosef for the Katlan deposit, also known as Olympus, as a natural gas discovery. It marks the first natural gas discovery recognized by Israel since 2015, the Energy Ministry said.

It comes a year after news of the discovery was announced.

Katlan, which holds an estimated 68 billion cubic meters (bcm) of gas, (TEKMOR Note: 2.4tcf) is located between the Energean-owned Karish and Tanin natural gas fields off Israel’s Mediterranean coast.

Energean exports first hydrocarbon liquids from Israeli gas fields - THE JERUSALEM POST

FEBRUARY 14, 2023 16:55

Zachy Hennessey

For the first time in the history of Israeli oil and gas production, hydrocarbon liquids will be exported to global markets, Energean confirmed on Tuesday. The first cargo has been transferred from the company's Karish field platform and sold as part of a multi-cargo marketing agreement with Vitol.

“We are happy and proud that Energean has facilitated Israel joining the club of international oil exporters," said Mathios Rigas, Energean's CEO "This is another milestone for us, enhancing Energean’s growth as a significant player in the local and regional markets.”

According to Energean, the hydrocarbon liquids are to be offloaded in a controlled manner via the Energean Power FPSO vessel and subsequently sold into various global markets, creating a significantly differentiated income stream that is fundamentally separate to the company's gas-derived revenues.

Oil and gas group Energean calls for east Mediterranean investment boom - FINANCIAL TIMES

14/11/2022
Tom Wilson in London

The chief executive of a London-listed oil and gas company recently threatened by Hizbollah has called for more investment in the energy potential of the eastern Mediterranean after a landmark maritime deal between Lebanon and Israel.

Mathios Rigas, whose Energean delivered the first gas from Israel’s Karish field last month, said the US-brokered agreement, following years of on-off negotiations between the sworn enemies, offered a “new model” for the resolution of border disputes in the contested region.

The deal does not constitute a peace agreement between the two countries, which still do not recognise each other’s governments, but allows for the exploitation of the area’s hydrocarbons while border negotiations continue.

Growth drilling programme update - ENERGEAN

London, 7 November 2022 - Energean plc (LSE: ENOG, TASE: אנאג (is pleased to announce that i) the Zeus01 exploration well has made a commercial gas discovery of 13 bcm ii) contingent resources at Athena have been upgraded following post-well analysis; and iii) the Stena IceMax drilling rig has moved to block 23 to drill the Hercules structure, the final well in Energean’s 2022 drilling campaign.

Zeus well results

The Zeus exploration well, block 12, offshore Israel, has made a commercial discovery with preliminary estimates indicating that the structure contains 13.3 bcm of recoverable natural gas resources (pre-drill estimate 10 - 12 bcm). Energean is now undertaking post-well analysis of the data collected during drilling.

Athena resource upgrade

Energean’s reserve auditor, DeGolyer & MacNaughton (“D&M”), has certified contingent resources of 11.75 bcm in the Athena discovery, an increase of 3.75 bcm on the Company’s 8 bcm preliminary estimate. This increase follows post well studies undertaken on data collected during the drilling process.

Israel Grants Approval for Energean to Start production at Karish Offshore Gas Field - OFFSHORE ENGINEER

October 25, 2022

Maayan Lubell and Ari Rabinovitch 

Israel granted Energean permission to start production at the offshore Karish gas field on Tuesday, an Energy Ministry statement said.

Energean has said its floating production storage and offloading vessel [the Energean Power - OE ] is due to start production at Karish in the third quarter but has not given a precise date.

On Oct. 9, the London-listed energy group began pumping gas to its floating production facility as part of reverse flow testing procedures.

Israel and Lebanon on Thursday are expected to sign a U.S.-brokered maritime border deal reached this month, opening the way for offshore energy exploration.

Energean hits gas discovery in waters off Israel - OFFSHORE ENERGY

06 Oct 2022 | 08:51 UTC
October 6, 2022, by Nermina Kulovic

E&P company Energean has made a commercial gas discovery with the Hermes exploration well offshore Israel and has moved on to drill the next well in the campaign.

As reported in June 2022, Energean made plans to drill two more exploration wells off Israel and exercised its options with Stena Drilling for those wells.

The Hermes exploration well is located in Block 31 and it was spud in August, using the Stena IceMAX drillship. Preliminary estimates indicate that the structure contains 7 – 15 bcm of recoverable natural gas resources, Energean informed on Thursday.

Detailed analysis of the data collected by the well is ongoing, with the aim of refining volumetric estimates and potential commerciality for both the discovery and the full area. The Hermes discovery has helped to de-risk the nearby Poseidon and Orpheus structures, which represent attractive potential future appraisal targets to fully assess the potential of the area around block 31.

If Nasrallah attacks Karish gas field, Lebanon will pay the price - Gantz - JERUSALEM POST

SEPTEMBER 15, 2022 20:55
By TOVAH LAZAROFF, ANNA AHRONHEIM

Israel warned that Lebanon would pay the price for any Hezbollah attack on its offshore Karish gas field, even as it said it hoped a US-brokered deal to set a maritime boundary in the north was close to completion.

“If [Hezbollah leader Hassan] Nasrallah wants to try and harm and to complicate this process, he is welcome to do so, the price is Lebanon,” Defense Minister Benny Gantz told Reichman University’s 21st World Summit on Counter-Terrorism on Thursday morning. “I hope for his sake that he won’t do this, we are prepared to defend our interests.”

Gantz’ words come as US envoy Amos Hochstein appears to be on the edge of concluding a deal between the Lebanese and Israeli governments to set a maritime border off the Mediterranean Sea. It would give Israel rights to the Karish gas field and Lebanon the right to the abutting Kana gas field.

Israel ramping up gas output, looks to help supply Europe - REUTERS

May 17, 2022, 4:52 PM GMT+8
Ari Rabinovitch

HAIFA, Israel, May 16 (Reuters) - Israel is boosting offshore natural gas output and aims to reach a supply agreement with Europe in the coming months as the continent looks to replace Russian supply.

The country is on track in the next few years to double production to about 40 billion cubic metres (bcm) from about 20 bcm as it expands current projects and brings new fields online, industry officials say.

Israel currently supplies its own market and through a local network of pipelines exports to neighbours Egypt and Jordan, while much of the additional gas is earmarked for Europe.

Energean discovers new gas off Israel's coast - REUTERS

LONDON, May 9 (Reuters) - Eastern Mediterranean-focused oil and gas producer Energean (ENOG.L) said on Monday it had made a new commercial gas discovery off the coast of Israel, although it fell far short of the company's previous estimates.

Energean said it had discovered 8 billion cubic metre (bcm) natural gas in its Athena exploration well which lies between its Karish and Tanin fields.

The figure however falls short of the company's estimates of a 21 bcm resource, which it included in an investor presentation last month.

Energean shares traded in London were up 4% by 0821 GMT.

Athena could be developed by linking it to the floating production and storage vessel (FPSO) Energean plans to use to send gas into the Israeli market from Karish starting in the third quarter, the company said.

Winners and losers as energy minister halts gas exploration - THE JERUSALEM POST / GLOBES

DECEMBER 17, 2021
Guy Lieberman

The announcement by Energy Minister Karin Elharrar yesterday that her ministry will not award licenses for natural gas exploration in Israel's Economic Zone in 2022 set off a storm. 

Her predecessor at the ministry, Yuval Steinitz, rushed to react on Twitter, calling on her to "reconsider" the decision, and claiming that "in the green USA of President Biden they are continuing to explore for natural gas in hundreds of areas on land and offshore, as they are in Canada and in most countries of Western Europe."

The Association of Oil and Gas Exploration Industries in Israel was also quick to react, and pointed to the energy crisis in Europe as an example of the need "to continue exploring for further discoveries of natural gas."

Elharrar responded that it was a matter of "one year only", during which her ministry will devote its attention to the most important need at this time, which is renewable energy. In her announcement, the minister stated that her ministry was forming a new department to deal with renewable energy.

Halliburton lands work off Israel - NATURAL GAS NEWS

Sep 14, 2021 3:40:pm
Daniel Graeber 

Upstream services company Halliburton said September 14 it was awarded a contract to drill as many as five wells off the coast of Israel.

Halliburton will conduct the work for Energean, a Mediterranean- and North Sea-focused explorer.

“Halliburton will collaborate with Energean to economically and safely deliver exploration, appraisal, and development wells offshore Israel,” the services company explained. “The contract is for three firm and two optional wells to deliver all services including project management, directional drilling, drill bits, drilling fluids, cementing, solids control, wireline, slickline, completions, production enhancement, and subsea services.”

7 years on, Tamar natural gas partners make 1st payment to national wealth fund - THE TIMES OF ISRAEL

19 January 2021, 6:11 pm
Sue Surkes 

More than seven years after it started commercial production, the Tamar Partnership has paid its first installment into a sovereign wealth fund aimed at ensuring that some of the profits of Israel’s natural gas bonanza are spent on strategic projects for the nation’s benefit.

The partnership transferred some $15 million at the end of last year, the business daily Calcalist reported Monday, with a further $300 million expected to be paid during 2021, in monthly installments of $25 million.

Now that the payments have started, any future deals the partnership signs will only increase the amount that must be paid into the wealth fund.

On the basis of the idea that Israel’s natural resources belong to all of its citizens, all of the gas companies drilling off the country’s Mediterranean coast are supposed to pay the state 62% on their profits. This is called the government take and includes the wealth fund levy, as well as royalties and corporate taxes, which have been paid all along.

Karish Field Tie-In-Manifold tie-in spools and Gas Sales Pipeline Hydrotest Completed - ENERGEAN OIL & GAS

 

Gas Sales Agreements to supply an additional 0.4 Bcm/yr of gas in Israel - ENERGEAN OIL & GAS

London, 17 December 2020

Energean plc (LSE: ENOG, TASE: אנאג (is pleased to announce that Energean Israel Limited (Energean 70%) has entered into a new set of agreements and amendments to existing agreements with Rapac Energy Limited and its related companies to supply an additional amount averaging 0.4 Bcm/yr of gas for terms of between 6 and 15 years commencing from first gas from the Karish gas development project. The agreements include take-or-pay, exclusivity and floor pricing provisions.

Energean Israel Limited now has gas sales agreements in place to supply approximately 7.4 Bcm/yr of gas on plateau. All contracts contain provisions for take-or-pay and / or exclusivity, and floor pricing, ensuring that Energean’s revenue stream in Israel is secured, predictable and largely insulated from global commodity price fluctuations, supporting Energean’s target to begin paying a dividend following first gas from the 8 Bcm/yr Karish project, which is currently expected in Q4 2021.

Energean in exclusive talks to buy PE Kerogen's stake in Israeli gas fields - REUTERS

December 7, 2020 - 10:59

(Reuters) - Gas exploration and production company Energean said on Monday it was in exclusive talks to buy Kerogen Capital’s 30% stake in Energean Israel in order to take full control of the Karish and Tanin gas field leases, offshore Israel.

The company, which currently holds a 70% interest in Energean Israel, said the flagship Karish gas development project is expected onstream in the fourth quarter of 2021.

Reporting by Yadarisa Shabong in Bengaluru

Subsea structures in place at Karish offshore Israel - OFFSHORE MAGAZINE

Allseas' Solitaire & TechnipFMC's Normand Cutter at Karish

22 Jun 2020

LONDON – TechnipFMC and Allseas have completed two major components of Energean’s Karish gas project in the Mediterranean Sea, offshore Israel.

Allseas’ Solitaire completed installation of the 90.3-km (56-mi), 30-in. and 24.in gas sales pipeline in water depths of up to 1,700 m (5,577 ft).

The full program included placement of a tie-in manifold structure in 72 m (236 ft) water depth.

On average, excluding the beach pull, the rate of laying was 4,578 m/d (15,019 ft/d).

TechnipFMC’s construction support vessel Normand Cutter installed the production manifold, subsea isolation valve foundations and structures.

During 4Q, installation should get under way of the three sets of risers - 2 x10-in. and 1 x 16-in. - that will connect the three producing wells to the FPSO and then to the gas sales pipeline, finishing in 1Q 2021.

Currently the Karish development is around 80% complete, Energean said.

Energean on course to deliver first gas from Karish field in 2021 - OILFIELD TECHNOLOGY

Friday, 20 March 2020 16:00

Nicholas Woodroof

Energean Oil and Gas plc has announced its audited full-year results for the year ended 31 December 2019 (FY19).

Highlights

• Karish was 72% physically complete at 31 December 2019 and remains on track to deliver first gas in 1H21. Firm gas sales of 5 billion m3/yr with a further 0.6 billion m3/yr to be converted to a firm basis immediately on publication of a satisfactory Karish North CPR, expected at the end of March 2020.
• Post-period end, two of the three Karish development wells successfully flowed during clean-up operations, confirming that each will be capable of delivering up to the design limit of 300 mmscf/d (c.3 billion m3/yr). The third development well is currently in the clean-up phase and production performance is expected to be similar, confirming that the three wells will be able to produce to the 8 billion m3/yr capacity of the FPSO.