JERUSALEM, March 9 The partners in Israel's
Tamar natural gas field said on Sunday they expect to sign a
deal in the next few days to supply about $750 million worth of
gas to IPP Delek Soreq, which is building a power plant in
A total of 3.3 billion cubic meters (bcm) will be sold over
15 years - or when IPP Delek Soreq consumes the amount of gas in
the contract - starting in the first quarter of 2016, according
to a statement to the Tel Aviv Stock Exchange.
The contract may be extended by two more years if after 14
years the quantity has not been fully used.
Tamar, discovered in 2009 off Israel's Mediterranean coast,
is estimated to hold more than 280 bcm of gas. It began
production a year ago and has already signed a number of
lucrative deals in Israel.
Texas-based Noble Energy has a 36 percent stake in
the field. Delek Group, through its units Avner Oil
Exploration and Delek Drilling, holds a
31.25 percent share. Isramco Negev has 28.75 percent
and Dor Gas Exploration holds the remaining 4 percent.
IPP Delek Soreq is controlled by Delek Group.
Last month, the Tamar partners agreed to sell at least $500
million of gas to two Jordanian companies in the first deal
outside of Israel.