Finance
UK's Energean Inks New Gas Supply Contract in Israel
Published by Global Banking & Finance Review®
Posted on April 14, 2025
1 min readLast updated: January 24, 2026
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Global Banking & Finance Review®
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Published by Global Banking & Finance Review®
Posted on April 14, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleEnergean's Israeli subsidiary signs a $2 billion gas contract with Kesem Energy, supplying 12.5 billion cubic meters over 17 years.
(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)
The article discusses Energean's $2 billion gas supply contract with Kesem Energy in Israel, highlighting the company's growth and increased gas demand.
The contract involves supplying 12.5 billion cubic meters of gas over 17 years to Kesem Energy's new power plant in Israel.
Gas demand is rising due to increased electricity needs and Israel's plans to phase out coal.
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