October 31, 2022

Karish gas field to help address Europe's energy crisis: Israel

categories : oil and gas

Israeli Prime Minister Yair Lapid said Sunday that the production of gas from the Karish field will reduce energy costs in Israel and will help Europe to address its energy crisis, Anadolu reports.

Lapid made the statement during a tour he made in the Karish gas field, days after the signing of a maritime border deal with Lebanon.

'Producing gas from the Karish field will lower energy costs in Israel and will turn Israel into a regional energy supplier,' Lapid said, adding that it 'will help Europe deal with the energy crisis.'

The Israeli premier said maritime border demarcation with Lebanon and the continued gas production from the Karish will ensure economic stability for Israel.

On Wednesday, the US Energean company announced the start of production at the Karish gas field.

On Thursday, Israel and Lebanon signed a US-mediated maritime border deal amid international and regional welcome of resolving the dispute.

Israel and Lebanon were locked in a dispute over a maritime area of 860 square kilometers (332 square miles) rich in gas and oil, according to maps sent by both countries to the UN in 2011.


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