IEC, Tamar partners revise gas supply deal

IEC, Tamar partners revise gas supply dealImage courtesy of Delek Drilling

Delek Group informed that Tamar partners have signed an amendment to the agreement signed previously with Israel Electric Corporation concerning the increase of quantities of gas delivered from the field. 

According to the amendment, the quantity of gas delivered to IEC will increase in January 2017, and will run until the end of 2018, not 2019 as it was agreed initially, Delek Group’s statement reveals.

This entails the commencement of the second option period and the increase in the quantity of gas delivered to IEC in January 2019, a year before originally planned.

The minimum amount under the take or pay agreement starting in January 2019 will be 3 billion cubic meters of gas.

The contractual amount, for the entire duration of the contract, has remained unchanged at 86 billion cubic meters.

The Israeli anti-trust authority confirmed the amended option dates while the revised agreement is now subject to receiving the approval of Tamar partners financing bodies.

Partners in the Tamar field are Noble Energy with a 36 percent stake, Isramco Negev with 28.75 percent, Avner Oil Exploration and Delek with 15.625 percent stake each, with Dor Gas owning a 4 percent stake.

Share this article

Follow LNG World News

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >

4th Annual Upstream West Africa Summit 2018

In June 2018, Senegal will play host to the No.1 Annual B2B Upstream Oil & Gas event, which will bring together the senior decision makers from across the prolific West Africa region to discuss the trends and challenges currently facing the Oil and Gas industry.

Since the discovery by Tullow Oil in 2007 of the Jubilee Field in Ghana, the Upstream sector has refocused its efforts to explore similar plays around the entire West and North West African coast. These efforts were rewarded with Cairn Energy’s prolific discovery in 2014 followed by Kosmos’ in 2015. The West Africa region has the industry’s spotlight firmly focused on further unlocking the potential of this largely underexplored region.

Companies that will be looking toward further unlocking the deepwater hydrocarbon potential of West Africa include: PETROSEN, BP, Kosmos Energy, Cairn Energy, FAR, Total E&P, Premier Oil, Shell, Tullow Oil along with the Ministries and key solution providers.

 More info

read more >

The 27th World Gas Conference (WGC 2018)

The 27th World Gas Conference (WGC 2018) will be the largest, most timely and most significant global gas conference and exhibition ever held.

read more >

Oil and Gas 2018

The conference will cover a wide range of topics and allow participants to discuss about the new technologies developed in Petroleum…

read more >