11 Facts About Energean

Energean plc is an international hydrocarbon exploration and production company, with a focus on natural gas.

Energean listed on the Tel Aviv Stock Exchange in October 2018.

In July 2019, Energean made a deal to buy Italy's Edison for $750 million, which would be funded via a $265 million equity placing and a $600 million loan followed by a further $100 million payment after first gas would be streamed from an Italian gas development.

In October 2019, Energean agreed to sell Edison North Sea assets to Neptune Energy Group for up to $280 million as part of an ongoing plan to sell non-core assets.

In December 2016, Energean acquired 100 percent of the Karish and Tanin natural gas fields from Delek Drilling and Avner Oil for $148 million as required by the Israeli government in order to open the sector to competition.

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In June 2019, Energean signed an agreement with the Israel Natural Gas Lines Company to build a reception terminal connected to the Israeli gas transport system, consisting of an undersea segment 10 kilometers from the coast and a coastal land segment near Dor, for NIS 369 million.

In January 2020, Energean signed a letter of understanding with DEPA, a Greek gas corporation, for the sale of up to 2 BCM of gas annually through the projected undersea gas pipeline to Europe, the construction of which is estimated to cost $9 billion.

Energean expects to bring the Karish field on line in the third quarter of 2022.

In November 2019, Energean was sued at the Tel Aviv District Court for NIS 603 million by Tsabar Gas and Oil.

The lawsuit claimed that Energean had acted in breach of contract and had deprived Tsabar of its rightful share to the Karish and Tanin fields.

Energean is the owner of the rights in the Karish and Tanin fields, which it has bought legally with the approval of the government of Israel, and operates in full transparency and in compliance with the full provisions of the law throughout the whole process.