14th Apr 2025 09:30
Energean PLC - London-based energy production, development and exploration company and possesses a portfolio of assets across the Mediterranean and UK North Sea - Says its Israel unit, Energean Israel Ltd, has signed a gas supply deal with Kesem Energy Ltd worth more than USD2 billion.
The gas sale and purchase agreement covers around 12.5 billion cubic metres over 17 years, with deliveries to begin intermittently before mid-2030s, and around 1 billion cubic metres per year once Kesem's new power plant is operational.
Energean said the deal includes floor pricing, take-or-pay terms and indexation not linked to Brent crude, in line with its other long-term contracts. The company says it now has about USD20 billion in contracted revenue over the next 20 years.
Current stock price: 810.00 pence, up 3.9% in London on Monday
12-month change: down 22%
By Eva Castanedo, Alliance News reporter
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