Energean reports higher first-half profit, eyes expansion in Europe, Middle East and Africa

Gas producer Energean reported higher first-half profit on Wednesday, helped by a rise in production due to strong summer demand in Israel, which accounts for more than 70% of total output.

The company is looking to expand in Europe, the Middle East and Africa, particularly where there is long-term policy support for gas and displacement of coal.

The company had agreed in June to sell its assets in Egypt, Italy and Croatia to private equity fund Carlyle for up to $945 million.[Reuters]