Energean Group CEO Mathios Rigas and the company’s Country Manager in Israel, Shaul Zemach, have held a crucial meeting with the Israeli President Isaac Herzog, for talks focused on the importance of natural gas production for Israel and the energy market of the wider eastern Mediterranean region, according to posts by Energean on its social media accounts.

Mr. Rigas stressed the importance of domestic production for both the Israeli economy and consumers, confirming that he and Energean remain fully committed to Israel’s secure energy supply.

“Strengthening gas exploration, development and production in the Mediterranean will be crucial for a just and secure energy transition in the region. We are proud to be a catalyst for regional energy development as the leading independent exploration and production company focused on natural gas, the environment, society and corporate governance,” the Energean CEO declared during the meeting.

The company, listed on the London and Israeli stock exchanges, which started from Prinos in Kavala, northern Greece, has been producing natural gas in Israel from the Karish field since 2022 with its “Energean Power” unit, the only FPSO (Floating, Production, Storage, Offloading) facility operating in the eastern Mediterranean. It covers about 50 percent of Israel’s domestic gas needs, producing at a rate of about 6 billion cubic meters per year.

Energean also expects to begin producing, in the the first quarter of this year, from the Karish North field, which the company discovered in 2019.

The Israeli government recently approved Phase 1 of the Development Plan for the Katlan gas field. Katlan, also known as the Olympus Area, was discovered in 2022 by Energean and can be used for export if Israel grants the necessary permits.

Israel’s interest in Energean’s production is obviously very high, as highlighted by the Israeli Minister of Energy and Infrastructure Eli Cohen’s recent visit to the “Energean Power” facility.