Greece’s Energean Oil & Gas announced on March 5 that Energean Israel has signed a secured Senior Credit Facility of up to $1.275 billion with Morgan Stanley, Natixis, Bank Hapoalim, and Societe Generale as Mandated Lead Arrangers (MLAs). According to Energean, the Facility Agreement will be the primary source of funding for the development of the Karish offshore gas field over the next three years, with first gas production expected in early 2021. Source: New Europe
“What is happening today in the energy markets of Europe is, to a certain extent, a man-made result of short-sighted policy,” the Russian President added Source TASS
India is facing an impending energy crisis as several states saw coal-fired power plants shut down due to a coal shortage. Major cities such as the capital New Delhi experienced electricity cuts that ran for hours over the weekend. Source DW
India is grappling with an escalating crisis as stockpiles of coal, the fuel used to generate about 70% of the nation’s electricity, dwindle to the lowest in years just as power demand is set to surge. Source EconomicTimes
