Israel is giving the green light for the sale of two gas fields in the eastern Mediterranean to the Greek firm Energean, Energy Minister Yuval Steinitz announces.
The two fields, named Karish and Tanin and estimated to hold 60 billion cubic metres of gas, had initially been allocated to a consortium grouping US firm Noble Energy and the Israeli group Delek, which already control two much larger fields.
Illustrative photo of Israeli natural gas rigs in the Mediterranean Sea, September 2, 2015. (Flash90)
“We have decided to put an end to this monopoly situation,” Steinitz tells public radio, explaining the consortium’s sale of exploitation rights in the two fields to Energean for $150 million.
According to the minister, total production from the four fields would bring in $92 billion dollars, or “more than all the US aid granted over the years to Israel”.
— AFP
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