Energean, a gas exploration company off the coast of Israel, said the Athena well, drilled between the Karish and Tanin fields, has made it possible to discover another gas field.

Surveys have confirmed that the minimum volume of the new field is eight billion cubic meters of gas. However, intelligence data suggest that the reserves of the entire Olipus site, to which Athena belongs, are 50 billion cubic meters more. Note that Israel’s proven reserves are about 800 billion cubic meters.

“We are pleased to announce the discovery at the Athena well and the potential of the Olympus area. We are considering strategic options for the commercial development of both the field and the entire area, both locally and internationally,” the general director of the company Matios Rigos.

Demand for natural gas in the European market has increased significantly due to the desire of many EU countries to find a replacement for Russian energy sources. Russia uses energy dependence as a lever of foreign policy pressure on the EU.