Israeli utility opts for increased gas supplies from Tamar

Offshore staff

TEL AVIV, IsraelIsrael Electric Corp. has decided to partly exercise an option to increase gas supplies from the deepwater Tamar gas development.

According to Delek Group, the increase would take effect from Jan. 1, 2020.

The contracted quantity will increase partially (compared to the originally agreed quantity); the take or pay quantity will be 3 bcm/yr (106 bcf/yr); and the maximum total volume to be supplied over the entire contract period will be around 87 bcm (3 tcf).

This compares to 99 bcm (3.5 tcf) if the option had been exercised fully and 82.5 bcm (2.91 tcf) if it had not been exercised at all.

04/21/2015

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