Energean is set to produce first gas from its flagship Israeli fields in the second half of 2021 after coronavirus-related delays, the Eastern Mediterranean gas field developer said Sept. 10.
Energean is building an 8 billion cubic meter (Bcm) per year floating production vessel offshore Israel and has already sold 5.6 Bcm a year into the nation’s market.
It had initially guided for first gas in the first half of 2021 but had flagged this depended on the coronavirus’ impact on construction.
Energean upgraded its reserves and resource estimates in April to 698 million barrels of oil equivalent of which 88% are gas.
Energean expects to fine tune these estimates in the coming weeks, the company said as it reported a first-half loss after tax of $77.3 million versus a loss of $4.5 million a year earlier.
Recommended Reading
Freeport LNG Readying Operation Restart After Hurricane Beryl, Sources Say
2024-07-10 - The facility is not expected to resume shipments of LNG until the port of Freeport, which is operating under vessel transit restrictions, fully reopens.
Diversified to Buy East Texas NatGas Assets from Crescent Pass
2024-07-10 - Diversified Energy’s $106 million deal with Crescent Pass Energy comes during a prolonged dip in natural gas prices that some analysts expect to rebound as demand ramps up for LNG exports and power demand.
Golden Pass LNG’s not so Golden Days
2024-07-10 - The $9.25 billion Golden Pass LNG project is arguably not having a golden moment at eight months behind schedule and some $2 billion over budget. Owners QatarEnergy and Exxon Mobil Corp. have begun damage control.
Paisie: OPEC+ Will Be Able to Manage Prices
2024-07-11 - Disappointing economic news has contributed to a drop in oil prices.
TotalEnergies Joins Ruwais LNG Project in UAE
2024-07-11 - French energy giant TotalEneriges joined the two-train 9.6 million tonnes per annum Ruwais LNG project in the United Arab Emirates with a 10% interest. The LNG project is expected to start sending out cargos in the second half of 2028.