London-listed Greek firm Energean is in danger of losing key customers for its 7.2bcm/y (700mn cfd) Karish development offshore Israel. Of 7.1bcm/y (684mn cfd) in gas sales contracts, more than half is under threat.
Energean’s three largest customers are all looking to back out of their gas purchases on contracts signed with Energean in 2017, citing delays to the project that was originally due online in late 2020 (MEES, 30 March 2018). Energean now eyes first output in mid-2022 (MEES, 3 September), with the 800mn cfd-capacity Energean Power FPSO due to set sail from its Singapore shipyard in Q1 next year. (CONTINUED - 1215 WORDS)