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

Reuters

JERUSALEM (Reuters) - Energean Oil & Gas <ENOG.L> 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 <ENOG.TA> 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)