The gas production and processing vessel Energean Power (IMO 9889162) was the largest single exposure indicated by marine war underwriters, reports Insurance Insider.
In October 2022 Greece-based Energean received approval from Israel’s Ministry of Energy to start certain testing procedures for its Karish gas field development in the Mediterranean Sea. Gas soon started flowing from onshore to the Energean Power FPSO, one of the major steps in the commissioning process for the FPSO.
The vessel had reached Israel in early June 2022, after which it was moored to the seabed and connected to the risers. In August the Karish North KN-01 development well was drilled, and completion of the second gas sales export riser and second oil train on the FPSO to receive the production remained on track as of September. At the time, the company said Karish North should come onstream toward the end of 2023.
The Karish Field is some distance from Gaza, being about 50 miles west of the main northern Israel port of Haifa. Its vulnerability would be greater if the conflict between Israel and Gaza should spread to the border with Lebanon in the north, where Hezbollah is the major anti-Israeli force.
Israel last year rejected revisions to a draft agreement on demarcation of the maritime borders of Lebanon and Israel.
2022-built, Marshall Islands-flagged, 94,290 gt Energean Power is owned by Energean Israel Ltd care of manager Energean Oil & Gas of Athens, Greece. It is entered with NorthStandard on behalf of Energean Israel Ltd.