From the Liveblog of
Wednesday, October 12, 2022
Israeli official: Development of disputed Qana gas field will take four stages
Add ToI as a Preferred Source on GoogleLazar Berman is The Times of Israel's diplomatic reporter
The development of the Qana gas field — and the proceeds Israel will receive from the TotalEnergies corporation — will occur in four stages, explains Energy Ministry Director-General Lior Schillat in a briefing.
The exploratory stage will last 2-4 years, during which initial geological surveys and test drillings will be carried out. In order for that stage to begin, Israel and Total must have completed a fundamental agreement about compensation for Israel.
The next step is the estimate stage, in which over 1-2 years further exploratory drilling takes place, and a final investment decision is made. The two sides will agree on the amount of natural gas in the field, how much Israel is to receive for the gas in its waters south of Line 23, and will sign a detailed agreement.
Israel will receive the first payment from Total before any drilling begins. Once the payment is made, the development phase begins, and continues for 4-7 years. Drilling in order to extract the gas is carried out, and pipes are laid down.
The final phase, which takes place over the next 25-50 years, is the extraction, during which Israel continues to receive payments according to an agreed upon timetable.
The Times of Israel Community.