Israel has given the Greek energy conglomerate Energean permission to start production at Karish gas field located in the Mediterranean Sea in territorial waters that had been claimed by both Israel and Lebanon. The permission on Tuesday comes as Israel and Lebanon prepare to sign a US-brokered maritime border agreement reportedly reached earlier this month, which is expected to be signed on Thursday.
Hizbullah in Lebanon had threatened the Karish field if Israel began extracting gas from it. In July, Israel’s military said it intercepted the three drones launched by Hizbullah heading for Karish.
“As we said throughout this process, gas production from the Karish platform would begin as planned the moment the technical conditions for production were met,” Israel’s Prime Minister Yair Lapid said in a statement on Tuesday evening.
“The production of natural gas from the Karish platform bolsters Israel’s energy security, enhances our stature as energy exporters, strengthens Israel’s economy, and helps in grappling with the global energy crisis. The natural gas from Karish will help lower energy prices in Israel as well as increase competition in the market,” he said.