Amiram Barkat
Tanin, Karish owner Energean now has more than half the contracts needed to development the Israeli gas fields.
The board of directors of the Dorad power station, headed by chairman Erez Halfon, today approved the signing of a document of principles for the purchase of natural gas from the Karish and Tanin reservoirs, owned by Energean. 5.5 BCM of natural gas will be supplied over 14 years under the deal.
Market sources estimated the total value of the deal at over $500 million. The terms of the deal reflect an average price of $4 per heating unit, the lowest price in such deals in recent years. Supply in the deal is slated to begin in the fourth quarter of 2020, when gas from Karish and Tanin is expected to begin flowing.
