Energean inks new GSPA with Israeli power plant

by | May 3, 2022

Hydrocarbon exploration and production company Energean has inked a new gas sales and purchase agreement that will see it supply up to 800.0m cubic meters of natural gas per year to the East Hagit Power Plant in Israel.
Energean said on Tuesday that the gas sales and purchase agreement was for a term of approximately 15 years, for a total contract quantity of up to 12.0bn cubic meters, and contains provisions regarding floor pricing, offtake exclusivity, and a price indexation mechanism.

The FTSE 250-listed firm added that the agreement had been signed at levels that were “in line” with the other large, long-term contracts within its portfolio and has the potential to generate revenues of up to $2.0bn over the offtake period.

Separately, Energean added that its Energean Power FPSO had sailed away from Singapore and remained on track to deliver first gas from its Karish project in the third quarter.

As of 0835 BST, Energean shares were up 2.62% at 1,215.30p.

Related articles

Ryanair passenger numbers jump 9% in December

Ryanair passenger numbers jump 9% in December

(Sharecast News) - Budget airline Ryanair reported a 9% jump in December passenger numbers on Wednesday. Traffic rose to 12.54 million from 11.52m in the same month a year earlier, while the load factor - which gauges how full the planes are - ticked down to 91% from...

Wizz Are passenger numbers soar in December

Wizz Are passenger numbers soar in December

(Sharecast News) - Hungary-based budget airline Wizz Air reported a strong rise in December passenger numbers as demand continued to rebound from the Covid pandemic. The company on Wednesday said it carried 4,964,857 passengers, an 18.8% increase year on year. For the...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!