esc button OS X needs to be released on every command In terminal I use escB  or escF  to jump through the words.

If I want 2x back I've to do escB twice. Otherwise I just start typing F or B in Terminal.

The modifier keys ctrl / alt /cmd work differently e.g. I can hit control and than hit AAA EEEE multiple times without a need to release control button. So go to end of line twice would be ctrlEE and this would work (don't mind the fact that this is pointless end of line is end of line)

Is there a way to achieve same with esc modifier?
selecting Use option as meta key allows alt/option to be used instead of esc.