“Karish” natural gas rig activation given green light, ahead of Israel-Lebanon maritime deal finalization
Following weeks of testing, Energean can now start producing natural gas from “Karish”. Meanwhile, the Israeli government is expected fully approve the maritime deal with Lebanon, under which exploration of a potential Lebanese gas field near “Karish” will begin
Mandi Kogosowski
| 26/10/2022
Israeli President Isaac Herzog during his meeting with US mediator Amos Hochstein, in Washington, DC., yesterday. Photo credit: Kobi Gideon (GPO)
Following weeks of testing, Energean can now start producing natural gas from “Karish”. Meanwhile, the Israeli government is expected fully approve the maritime deal with Lebanon, under which exploration of a potential Lebanese gas field near “Karish” will begin
Gas exploration and production company Energean can now start producing natural gas from Israel’s “Karish” gas field, having being granted following approval yesterday (Tuesday) by the Ministry of Energy following weeks of testing.
The activation of Karish will strengthen Israel’s position as a natural gas supplier, and enable increasing natural gas export to Egypt and Jordan, and from there to Europe following the global energy crisis.
The Ministry of Energy said in a statement that “Exporting natural gas improves Israel’s position in this field and greatly contributes to the state from a geopolitical angle, while maintaining the amount of natural gas required for local consumption. This move holds enormous economic significance for the local energy sector and Israeli economy.”
“As we said throughout this process, gas production from the ‘Karish’ platform would begin as planned the moment the technical conditions for production were met,” Israeli Prime Minister, Yair Lapid, said in statement yesterday, alluding to Hezbollah leader Hassan Nasrallah’s recent threats to attack the field.
“The production of natural gas from the Karish platform bolsters Israel’s energy security, enhances our stature as energy exporters, strengthens Israel’s economy, and helps in grappling with the global energy crisis,” added Lapid. “The natural gas will help lower energy prices in Israel as well as increase competition in the market.”
Historic maritime agreement with Lebanon might be signed tomorrow
The approval was granted just days before the maritime boundary deal with Lebanon, under which Israel retains full rights and ownership of Karish. The potential natural gas field “Qana”, just a few kilometers north from Karish, will remain in Lebanese hands, however Israel – which compromised on the maritime boundary – is to receive royalties via third party should gas be discovered and produced.
Following the government’s approval of the agreement earlier this month and the rejection of petitions submitted to the High Court, it has been placed before the Knesset for a total of 14 days so that lawmakers can discuss and comment (although not vote).
This reviewing period ends at midnight tonight, and the government’s final authorization vote is expected to take place tomorrow, followed by the official signing ceremony – perhaps even tomorrow. As Israel is facing a new round of elections on November 1st, and Lebanese President Michel Aoun is also leaving office at the end of the current month, there is no time to procrastinate.
Meanwhile, Israel’s President Isaac Herzog, who is currently on an official visit to the US, met yesterday with US Senior Advisor for Energy Security Amos Hochstein, the Biden Administration's mediator for Israeli-Lebanese talks.The two discuss the deal’s details, terms and potential implications on regional stability.
Following weeks of testing, Energean can now start producing natural gas from “Karish”. Meanwhile, the Israeli government is expected fully approve the maritime deal with Lebanon, under which exploration of a potential Lebanese gas field near “Karish” will begin
Israeli President Isaac Herzog during his meeting with US mediator Amos Hochstein, in Washington, DC., yesterday. Photo credit: Kobi Gideon (GPO)
Following weeks of testing, Energean can now start producing natural gas from “Karish”. Meanwhile, the Israeli government is expected fully approve the maritime deal with Lebanon, under which exploration of a potential Lebanese gas field near “Karish” will begin
Gas exploration and production company Energean can now start producing natural gas from Israel’s “Karish” gas field, having being granted following approval yesterday (Tuesday) by the Ministry of Energy following weeks of testing.
The activation of Karish will strengthen Israel’s position as a natural gas supplier, and enable increasing natural gas export to Egypt and Jordan, and from there to Europe following the global energy crisis.
The Ministry of Energy said in a statement that “Exporting natural gas improves Israel’s position in this field and greatly contributes to the state from a geopolitical angle, while maintaining the amount of natural gas required for local consumption. This move holds enormous economic significance for the local energy sector and Israeli economy.”
“As we said throughout this process, gas production from the ‘Karish’ platform would begin as planned the moment the technical conditions for production were met,” Israeli Prime Minister, Yair Lapid, said in statement yesterday, alluding to Hezbollah leader Hassan Nasrallah’s recent threats to attack the field.
“The production of natural gas from the Karish platform bolsters Israel’s energy security, enhances our stature as energy exporters, strengthens Israel’s economy, and helps in grappling with the global energy crisis,” added Lapid. “The natural gas will help lower energy prices in Israel as well as increase competition in the market.”
Historic maritime agreement with Lebanon might be signed tomorrow
The approval was granted just days before the maritime boundary deal with Lebanon, under which Israel retains full rights and ownership of Karish. The potential natural gas field “Qana”, just a few kilometers north from Karish, will remain in Lebanese hands, however Israel – which compromised on the maritime boundary – is to receive royalties via third party should gas be discovered and produced.
Following the government’s approval of the agreement earlier this month and the rejection of petitions submitted to the High Court, it has been placed before the Knesset for a total of 14 days so that lawmakers can discuss and comment (although not vote).
This reviewing period ends at midnight tonight, and the government’s final authorization vote is expected to take place tomorrow, followed by the official signing ceremony – perhaps even tomorrow. As Israel is facing a new round of elections on November 1st, and Lebanese President Michel Aoun is also leaving office at the end of the current month, there is no time to procrastinate.
Meanwhile, Israel’s President Isaac Herzog, who is currently on an official visit to the US, met yesterday with US Senior Advisor for Energy Security Amos Hochstein, the Biden Administration's mediator for Israeli-Lebanese talks.The two discuss the deal’s details, terms and potential implications on regional stability.
