Israel Cyprus Gas Pipeline

From Global Energy Monitor
This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.
Sub-articles:

Israel Cyprus Gas Pipeline is a proposed gas pipeline that would transport gas from Israeli offshore gas fields to the island of Cyprus.

Location

The pipeline will run from Karish and Tanin gas fields, about 120 km off the coast of Israel, to Vassiliko in Cyprus.[1]

Loading map...

Pipeline Details

  • Owner: Energean E&P Holdings Limited
  • Capacity: 1 billion cubic meters of gas per year
  • Length: 215 km / 133.6 mi[1]
  • Cost: US$350 million[2]
  • Status: Proposed
  • Start Year: 2021[1]

Background

Energean is seeking approval from Cyprus for the Greek oil and gas firm to build a pipeline from its Israeli offshore gas fields and import 0.5 to 1 billion cubic meters of gas a year to the island. Energean, which listed on London’s main stock exchange this year, has committed $1.6 billion to the Karish and Tanin fields which have potential reserves of 2.4 trillion cubic feet of natural gas and 32.8 million barrels of light oil and condensate. It estimates the five blocs it owns around Karish and Tanin contain an additional 5 trillion cubic feet of gas. The company has signed gas supply agreements in Israel for about 4.2 billion cubic meters of gas a year. Energean is positioning itself in the eastern Mediterranean with a newly built FPSO facility with capacity of 800 million cubic feet a day and liquids capacity of 800,000 barrels.[3]

The Israel Cyprus Gas Pipeline proposal was for a 200 km (124 miles) pipeline from the FPSO to Cyprus. Energean will also bid for further supply contracts in Israel, which is privatizing a gas-run power plant in Alon Tavor, and additional contracts once the country switches from coal to gas plants by 2022.[3] Gas production from Tanin is expected after the Karish field goes online in 2022.[4]

In November 2019 Energean estimated the total cost at US$350 million and planned to complete the pipeline by 2021. The company said it would fund the investment from its own resources, with no upfront costs involved for Cyprus.[2]

Articles and resources

References

  1. 1.0 1.1 1.2 NS Energy Staff Writer (November 20, 2019). "Energean proposes to transport gas from Karish North field to Cyprus". NS Energy. Retrieved August 24, 2020.
  2. 2.0 2.1 UK-listed Energean proposes gas pipeline to Cyprus from Israeli field, S&P Platts Global, Nov. 19, 2019
  3. 3.0 3.1 Energean asks Cyprus for approval to import Israeli gas via new pipeline, Reuters, Sep. 28, 2018
  4. Tanin Gas Field, Wikipedia, accessed September 2018

Related GEM.wiki articles

External resources

External articles