After dramatically announcing two months ago that he would break up the natural gas monopoly of Noble Energy and Delek Group Ltd. (TASE: DLEKG), Antitrust Authority director general Prof. David Gilo today presented to the two companies a compromise that he regarded as an acceptable structure for the gas industry.
According to the compromise shown to "Globes," Delek Group will sell its holdings in both the Tamar reservoir and the smaller Karish and Tanin reservoirs to a third party.
Isramco Negev 2 LP (TASE: ISRA.L) will be the sole marketer of the gas from the Tamar reservoir, while Noble Energy and the purchaser of Delek Group's holdings will not be involved in contracts with Israeli customers.
The model stipulated for the Leviathan reservoir is separate marketing, meaning that Noble Energy, Delek Group, and Ratio Oil Exploration (1992) LP (TASE:RATI.L), the Leviathan partners, can keep their stakes in the reservoir, but each of them will make its own agreements with customers.
Published by Globes [online], Israel business news - www.globes-online.com - on February 18, 2015
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