Energean, DEPA Pact for EastMed Pipeline
UK-based international oil and gas exploration and production company Energean Oil & Gas and the Public Gas Corporation of Greece (DEPA) have agreed to cooperate to further support the EastMed Pipeline Project.The have signed a Letter of Intent (LoI) for the potential sale and purchase of 2 BCM natural gas per annum from Energean’s gas fields offshore Israel, where Energean is investing $1.7 billion for the development of the Karish & Tanin fields through the FPSO “Energean Power”.DEPA, as a 50% shareholder of the IGI Poseidon – a Joint Venture with Edison S.p.A - is developing the EU Project of Common Interest (PCI) EastMed Pipeline and is a leading player in natural gas supply and retail activities in the Greek and S.
Ocean Tankers Awarded Contract
Following a public Government Tender, the company was awarded the Contract last April 21, for (a) the study and construction of the necessary infrastructure (SPM, subsea pipeline etc, offshore Limassol) and (b) the transportation of about 8 million cubic meters of potable water from Greece to Cyprus by tankers. The Contract provides for the completion of the work per (a) within four months and per (b) within six months from the contract date, ie a total of ten months. The company committed a fleet of six tankers for this pioneering project, which have been and are being thoroughly and suitably cleaned to EU specs and standards, and duly certified for the transportation of potable water by DNV, an IACS Classification Society.
