London-listed independent Energean last month acknowledged that Covid-related FPSO construction delays in Singapore meant that first gas from its 3ctf Karish development off Israel “could slip by between two and three months, into 1Q 2022” (MEES, 22 January).
In a further indication that Energean expects delays to first gas (and thus cashflow) it last month extended by nine months, from December 2021 to September 2022, the maturity of the $1.45bn Karish project finance facility it took out in 2018 (MEES, 30 March 2018). (CONTINUED - 189 WORDS)
