Significant step in the development of the shark natural gas reservoir: Energian connects to Israel’s national gas system

This morning, the connection between Energian’s terrestrial system at Dor Beach and the transmission system of Natgaz was completed using two welds of a 30-inch diameter pipe, and is a significant milestone on the way to producing gas from a shark reservoir and fulfilling competition goals in the Israeli gas market.

The gas is expected to flow from the bottom of the sea to the production rig located 90 km from the shore, where production and treatment products will be separated and treated.

” The gas is expected to flow from the bottom of the earth at the bottom of the sea to the production rig located 90 km from the shore ” (Photo: Tom Besser)

Matthews Riggs, CEO of Energian “I am happy and excited to take another significant step that brings us closer to producing the first gas from a shark reservoir in Israel. This is a significant year for the Israeli gas economy: a year in which the first flooding rig in the eastern Mediterranean basin will reach Israel, a year in which the first gas will be produced from a shark reservoir and a year in which we will increase competition in the local market. “This year, Energian will also carry out new drilling with the aim of expanding Israel’s and the Middle East’s gas reserves, which will ensure Israel’s gas supply in the future as well and strengthen its position as a regional gas supplier.”

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Energian officially connects to Israel’s national gas system (Photo: Tom Besser)

Energian, a company traded on the London Stock Exchange (ENOG: LSE) and the Tel Aviv Stock Exchange (ANAG: TASE), operates in the field of natural gas exploration and production, and has projects in Israel, Greece, Egypt, Italy, Croatia, the United Kingdom, Malta and the Adriatic Sea. Energian has signed agreements for the sale of BCM 7.2 (annual) of natural gas to the Israeli market, and holds 8 additional exploration licenses in Israel’s economic waters. The company recently reported record financial figures for 2021, with revenues of about $ 500 million, after raising about $ 2.5 billion in bond issues this year.

Energian officially connects to Israel’s national gas system (Photo: Tom Besser)