Energean said the gas sales and purchase agreement includes the sale of about 0.5 billion cubic meters (bcm) of gas a year, or up to 8 bcm in total, over 15 years.

Revenue from the deal is estimated to top $1 billion over the term of the contract, the company said.

Energean said it now has firm agreements for the supply of 5 bcm a year of gas into the Israeli domestic market.

(Reporting by Ari Rabinovitch; Editing by Tova Cohen)