Tshuva: Sinai gas explosion reports false

Yitzhak Tshuva

Delek controlling shareholder Yitzhak Tshuva said, "These false rumors were spread on anti-Egyptian channels."

Delek Group Ltd. (TASE: DLEKG) controlling shareholder Yitzhak Tshuva has rubbished reports that the Israel-Egypt gas pipeline has been attacked and blown up by terrorists, 'Late last night false rumors were spread on anti-Egyptian channels regarding the gas pipeline to Egypt, they are rumors that are not correct."

The Israel-Egypt gas pipeline, formerly owned by EMG, recently resumed operations as part of the Leviathan and Tamar partners sale of gas to Egypt.

Tshuva was addressing an investor conference which convened to bid farewell to outgoing Delek CEO Asi Bartfeld and welcome incoming CEO Idan Wallace. Tshuva said, "2019 was a year of fulfilling a dream and we began to produce gas from Leviathan. The period of the marketing agreements with Jordan and Egypt is for 15 years. We have created a certain long-term cash flow that will serve the Delek Group for years. We are also in talks with a Dutch company."

On the purchase by Delek of Chevron's North Sea assets, Tshuva added, 'The Chevron deal was completed with major success and its results will express themselves. It is a once in a generation deal and we are happy about its integration into Ithaca. We are examining separating Ithaca's oil and gas assets from its infrastructure as we did with Delek USA. We are working towards an IPO for Ithaca in 2020. Ithaca has hedged the price of oil and gas at an average price of $64 per barrel and this will also be a tax asset that will be reflected in future profits. In our opinion all these will create very major value for the Delek Group and its investors."

Published by Globes, Israel business news - en.globes.co.il - on February 3, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Yitzhak Tshuva
Yitzhak Tshuva
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