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Energean to sell gas to MRC Alon Tavor in $1 billion deal

Reuters - UK Focus

JERUSALEM, Nov 21 (Reuters) - Energean Oil & Gas said on Thursday it signed a $1 billion deal to sell natural gas to Israel's MRC Alon Tavor from its offshore Karish gas field.

Energean said the gas sales and purchase agreement includes the sale of about 0.5 billion cubic meters (bcm) of gas a year, or up to 8 bcm in total, over 15 years.

Revenue from the deal is estimated to top $1 billion over the term of the contract, the company said.

Energean said it now has firm agreements for the supply of 5 bcm a year of gas into the Israeli domestic market. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)