Tamar partners alter gas supply terms

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

Share your news with Offshore at news@offshore-mag.com

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...