Delek signs $5bn Tamar gas deal with Dalia

Delek Drilling-LP (DEDRL) and its partners in Israel’s Tamar gas field have signed a $5bn agreement to supply Dalia Power Energies Ltd. with natural gas for 17 years.

Bloomberg reports that Tel Aviv-based Dalia Power is building a power station using natural gas at the Tzafit site in central Israel. Once completed, the plant would supply some 8 per cent of national energy consumption, making it one of the country’s biggest privately operated power stations.

Israel is encouraging the development of independent power producers to introduce competition in a market monopolized by state-owned Israel Electric Corp.

“This is one of several deals that we expect to come,” said Richard Gussow, an analyst at Deutsche Bank AG in Tel Aviv.

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