Minister seeks to expedite Tamar gas flow

Infrastructures Minister Uzi Landau will meet Yitzhak Tshuva and his partners today.

Minister of National Infrastructures Uzi Landau and top ministry officials will today meet Delek Group Ltd. (TASE: DLEKG) controlling shareholder Yitzhak Tshuva and his partners in the Tamar gas field, Noble Energy Inc. (NYSE: NBL), Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L), and Dor Alon Energy Exploration Ltd.

They will discuss ways to expedite plans for developing the Tamar natural gas field, in view of the risk that gas imports from Egypt will stop. Landau wants to ensure that gas from Tamar will begin to flow to Israel in 2013, although this target currently appears difficult to achieve. The Tamar development plan, costing $3 billion, was effectively frozen three months ago, because of uncertainties created by the Sheshinski committee recommendations on taxation of gas discoveries.

Ministry of National Infrastructures energy officials met last night to assess the situation stemming from the events of the past few days. The participants were informed that gas supplies to Israel from Egypt are continuing as usual at this time. The ministry is continuing to monitor the situation.

A Ministry of National Infrastructures spokesman said that a routine emergency exercise, held in June 2010, practiced a scenario of a halt in the natural gas flow to Israel. As a result of the exercise, various recommendations were formulated and the preparations by the ministry and infrastructures entities for dealing with a disruption in the supply of gas were improved.

Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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