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    Home > Finance > UK's Energean inks new gas supply contract in Israel
    Finance

    UK's Energean inks new gas supply contract in Israel

    Published by Global Banking & Finance Review®

    Posted on April 14, 2025

    1 min read

    Last updated: January 24, 2026

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    Quick Summary

    Energean's Israeli subsidiary signs a $2 billion gas contract with Kesem Energy, supplying 12.5 billion cubic meters over 17 years.

    Energean Signs $2 Billion Gas Supply Deal in Israel

    (Reuters) -UK-based gas producer Energean said on Monday that its Israeli subsidiary has signed a gas sale and purchase contract with Kesem Energy to supply fuel for a new power plant in Israel.

    Under the agreement, which represents over $2 billion in revenue, Energean Israel will supply Kesem's new plant with about 12.5 billion cubic meters of gas over the 17-year lifespan of the contract.

    Energean, which primarily operates in Israel, has been benefiting from increased gas demand in the country due to rising electricity needs and coal phase-out plans.

    The company aims to double its production in the coming years, primarily by developing new prospects in Israel.

    (Reporting by Raechel Thankam Job in Bengaluru; Editing by Sherry Jacob-Phillips and Varun H K)

    Key Takeaways

    • •Energean signs a $2 billion gas contract with Kesem Energy.
    • •The contract spans 17 years, supplying 12.5 billion cubic meters of gas.
    • •Energean aims to double production in Israel.
    • •Increased gas demand due to Israel's coal phase-out.
    • •Energean focuses on developing new prospects in Israel.

    Frequently Asked Questions about UK's Energean inks new gas supply contract in Israel

    1What is the main topic?

    The article discusses Energean's $2 billion gas supply contract with Kesem Energy in Israel, highlighting the company's growth and increased gas demand.

    2What does the contract entail?

    The contract involves supplying 12.5 billion cubic meters of gas over 17 years to Kesem Energy's new power plant in Israel.

    3Why is gas demand increasing in Israel?

    Gas demand is rising due to increased electricity needs and Israel's plans to phase out coal.

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