Tamar partners alter gas supply terms

Delek Group says the partners in the Tamar project offshore Israel have agreed to an amendment of a gas supply deal with the Israel Electricity Corp.

Offshore staff

TEL AVIV, IsraelDelek Group says the partners in the Tamar project offshore Israel have agreed to an amendment of a gas supply deal with the Israel Electricity Corp.

Commencement of the first option period and the increased quantity of gas supplied will now be in January 2017, continuing until end-2018.

The second option period and the increased quantity supplied to the IEC will now start in January 2019 and will continue until the end of the agreement period.

Minimum consignment will be 3 bcm/yr from Jan. 1, 2019. The total contracted amount remains at 87 bcm.

Delek says the amendments follow concerns about utilization of capacity of the gas pipeline from the Tamar project to the Israeli market in 2019, with the objective of freeing up capacity and facilitating additional quantities of natural gas from Tamar for other consumers.

09/06/2016

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