EYTAN HALON
British-Greek oil and gas producer Energean will supply natural gas worth more than $1 billion to Israel’s Alon Tavor power plant over the next 15 years, the company said on Thursday.
Under an agreement signed with Chinese-Israeli company MRC Alon Tavor Power, the owners of the plant near Afula, Energean will supply approximately 0.5 billion cubic meters (bcm) of natural gas per year, or up to 8 bcm over the term of the contract.
“Energean is pleased to be the supplier of natural gas to the Alon Tavor power plant, which is of strategic importance for Israel’s energy and electricity market,” said Energean CEO Mathios Rigas. “The agreement signed today represents a first step toward a long-term collaboration – and joins a long list of natural gas supply agreements from the Karish reservoir to the Israeli market as soon as 2021.”
Supply will commence with the first gas extracted from the Karish gas reservoir offshore Israel, owned and operated by Energean.
