Mathios Rigas tells "Globes" that low expenses allow the Karish and Tanin operator to sell gas at $4 per Btu, while IEC pays $6 for Tamar gas.
Energean is also considering dual listing on the Tel Aviv Stock Exchange.
The energy companies have signed binding agreements to provide 64 BCM of gas to Egypt's Dolphinus Holdings.
EMG co-owner Josef Maiman filed the lawsuit as a Polish citizen.
Zion Oil CEO Victor Carrillo said he was "enthusiastic about seeing clear signs of hydrocarbons," at the Megiddo-Jezreel well.
Speaking in Egypt, Claudio Descalzi said the region could become a natural gas power if it pooled resources.
The size of the "promising" Calypso 1 discovery is not yet known.
Prime Minister Benjamin Netanyahu is believed to prefer tearing up the agreement reached with Israel Electric Corporation workers and pressing for a court ruling limiting their right to strike.
Talks on separating the Palestinian electricity grid from Israel are making progress says the World Bank's Vivien Foster.
Power plants and renewable energy farms are replacing agriculture throughout Israel.