Leviathan to negotiate gas supply with Egypt's Dolphinus

Tamar
Tamar

The sides have signed a letter of intent for up to 4 BCM of gas annually.

The partners in the Leviathan gas discovery, Ratio Oil Exploration (1992) LP (TASE:RATI.L), Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling, along with US company Nobe Energy, report this morning that a non-binding letter of intent has been signed between Leviathan and Egyptian company Dolphinus Holdings in which the sides confirmed their intention of negotiating an agreement for the supply of gas from Leviathan to Dolphinus via the existing gas pipeline operated by EMG in Egypt.

The basis for negotiations is an estimated supply of not more than 4 BCM (billion cubic meters) of gas annually for 10-15 years.

The intention is to transport the gas via the Israel Natural Gas Lines system to Ashkelon and from there to Egypt via EMG's pipeline.

According to the report, the price of the gas that will be set will be similar to prices in other agreements for the export of gas from Israel to regional markets, and will be linked to the price of Brent crude oil, including a floor price.

In March this year, the partners in Israel's Tamar field signed a NIS 5 billion contract for the supply of 5 BCM of gas to Dolphinus over three years.

Delek Drilling chairman and Avner CEO Gideon Tadmor said, "The agreements to supply Israeli gas to Jordan and Egypt are the embodiment of the economic peace. The gas discoveries will make it possible for Israel to strengthen its ties with neighboring countries and to affect the lives of millions of citizens throughout the region. We continue to be committed to developing the Leviathan discovery and the project to expand Tamar, with the aim of creating energy security for Israel and its neighbors."

Published by Globes [online], Israel business news - www.globes-online.com - on November 25, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Bezhalel Machlis  credit: Assaf Shilo/Israel Sun Elbit Systems CEO: Our potential in Europe is huge

Bezhalel Machlis was speaking at an investor conference after the company released 2024 results showing revenue up 14.3%.

Gaza Strip, March 17 2025  credit: Reuters/Anadolu IDF resumes assault on Hamas

Extensive aerial attacks were carried out against targets in the Gaza Strip overnight.

Wiz founders Yinon Costica, Assaf Rappaport, Ami Luttwak, Roy Reznik credit: Avishag Shaar Yishuv Google renews attempt to buy Wiz - report

According to "The Wall Street Journal", Google parent company Alphabet is negotiating to buy the Israeli cloud computing security company for $30 billion.

Orit Strook  credit: Marc Israel Sellem/The Jerusalem Post Finance C'ttee approves NIS 300m coalition funds distribution

The money will mainly go to Religious Zionist party minister Orit Strook's Ministry of Settlements and National Missions.

Dangoor Academy  credit: British Embassy in Tel Aviv British Embassy showcases Israeli healthcare startups

The nine startups participated in the Dangoor HealthTech Academy, a program that connects Israeli startups with the UK healthcare system.

NextVision Stabilized Systems  credit: Shlomi Yosef/Tali Bogdanovsky Next Vision shareholders make NIS 230m exit

A British hedge fund has bought a 2.5% stake in the stabilized cameras company.

Energean CEO Mathios Rigas at the Israel Business Conference   credit: Shlomi Yosef Energean's $1b gas fields sale at risk

The sale of the energy company's asset portfolio in Egypt, Italy and Croatia may fall through because of the buyer's difficulties with the Italian regulator.

Kela Technologies founders Jason Manne, Hamutal Meridor, Alon Dror and Omer Bar Ilan  credit:  Yosef Haim Alterman Defense tech co Kela raises $39m

In response to the events of October 7, Kela has developed a platform for rapid integration of commercial technologies into military systems.

Benjamin Netanyahu  credit: ‎Alex Kolomoisky, Yediot Aharonot Firing the Shin Bet chief: The hurdles

Prime Minister Benjamin Netanyahu says he has "lost trust" in Shin Bet head Ronen Bar. Will this be enough to overcome legal challenges to his dismissal?

Emiliano Calemzuk  credit: PR CEO and "investor group" buying out Reshet 13

CEO Emiliano Calemzuk and the other investors will hold 74% of the television channel, while Len Blavatnik’s Access Industries and WBD will remain with 26%.

Inflation  credit: Tali Bogdanovsky Unexpectedly low February CPI reading cuts inflation

While inflation in Israel in the 12 months to the end of February 2025 is lower than forecast, housing prices continue to rise.

Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Competition Authority allows Delek takeover of Isracard

The Competition Authority is considered the easier of the two regulatory hurdles that the deal must overcome, the other being the Supervisor of Banks.

David Amsalem  credit  Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system  credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use  credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018