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Energean Plc submitted a proposal to the Greek government to build a carbon dioxide storage facility and a hydrogen plant in northern Greece close to its old Prinos oil field. Capital expenditure for the project is close to $500 million. Greece produces around 60 million metric tons of carbon dioxide per year, so the project would help the country reduce its emissions by around 2.5 million tons(4%).
The board of directors of Energean Oil and Gas PLC has approved the Final Investment Decision (FID) to go ahead with Karish and Tanin Development Project, offshore Israel worth $1.6 billion. The project will be developed through a newly built and owned FPSO gas treatment which would offer flexible infrastructure solution and potentially expand the scope for additional projects.