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Israeli Group in Talks to Buy Gas from Greece's Energean

Source: Reuters 7/16/2017, Location: Middle East

Israel's Oil Refineries (ORL) is in talks to by 17 billion cubic meters of natural gas from Greek exploration and production firm Energean.

ORL, together with Israel Chemicals and OPC Rotem, are negotiating non-binding memorandums of understanding to buy gas supplies from Energean, ORL said in a statement to the Tel Aviv Stock Exchange.

The deals would be the second for Energean for selling gas from the Tanin and Karish fields offshore Israel.

ORL did not say how much it was hoping to pay in the deal, which could last up to 15 years.

Israel Chemicals and ORL are subsidiaries of Israel Corp , while OPC Rotem is a unit of Kenon Holdings, which was spun off from Israel Corp.

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