Israel gave a green light to the London-based gas and oil company Energean to develop a new gas field discovered in the Mediterranean Sea off the country’s northern shores, the Israeli Energy Ministry said in a statement.
The gas field, named Katlan, holds an estimated 68 billion cubic meters of natural gas, the ministry said, noting that this is the first Israeli recognition of a gas field in Israeli waters since 2015.
The natural gas was discovered by Energean last year after it received a license from Israel to drill in the area.
In accordance with Israeli law, the company then requested recognition of the discovery, and it was approved after being examined by the Ministry’s Natural Resources Administration.
The recognition will allow the company to develop the field, which is expected within a few years to supply additional natural gas to the Israeli economy and possibly to export as well.
Katlan field is located near Karish field, from which Energean began producing natural gas in October last year. Therefore, in the development of Katlan, the company is expected to use the existing Karish infrastructure, the ministry noted. ■
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