search
Front > News

Leviathan to negotiate gas supply with Egypt's Dolphinus

Tamar
Tamar
25 Nov, 2015 10:09
שלח תגובה במיילAdi Ben-Israel

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

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.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

El Al aircraft credit: Yoav Yaari El Al pilots receive nearly NIS 250,000 bonus each

Thanks to the agreements signed with the unions in 2018, El Al's employees as well as senior management share in last year's success.

Pentera CEO Amitai Ratzon credit: Eyal Izhar Israeli security validation co Pentera raises $60m

Pentera's platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

D&B chairman Doron Cohen and Meitar partner Dan Geva Meitar reclaims title of Israel's biggest law firm

Meitar has first place with 537 lawyers, followed by Herzog Fox Neeman with 512 lawyers, according to the latest Dun's 100 rankings.

First International Bank of Israel CEO Eli Cohen credit: Eyal Toueg First Int'l posts top return on equity

First International Bank of Israel's return on equity in 2024 was 19%, the highest among Israel's banks.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018