Tag: Delek Drilling

Based in Herzliya, NewMed was formerly known as Delek Drilling.

An Egyptian company will buy 85 billion cubic meters of gas, worth an estimated $19.5 billion, from Israel’s Leviathan and Tamar offshore fields in the Mediterranean Sea over a period of 15 years.

The Delek Group's attempts in recent years to sell its stake in Tamar a number of different ways have failed.

"We are sitting on a huge stockpile of vinyl records while the world has transitioned to digital music," said MK Kahane.

Egyptian gas companies halted deliveries of natural gas between 2011 and 2013 after terrorists blew up the pipeline in the SInai.

The deal, worth $518 million, provides a 39 percent stake and gives the partners exclusive rights to use and lease the pipeline that connects Israel with Egypt.

Oil and gas sector shares are trading at sharp declines on the Tel Aviv Stock Exchange, reaching a 7.5% decline by mid-week – and that's before the actual reports about the new field have been issued.

El-Sisi said the agreement furthers his vision of transforming Egypt into a regional energy hub.

Let's watch the effect of taxes from the deal on Israel's own energy market. At the moment, a gallon of gas still costs Israeli motorists around $6.8 – most of which are taxes.

The “floatation” is worth about $1.2 billion, the biggest ever to be offered on the Tel Aviv Stock Exchange (TASE).

Israel's Leviathan consortium signs a groundbreaking $10 billion gas deal with Jordan for a 15-year period.

The development partners of the Leviathan gas field are planning to start the pipes flowing by 2019.

At last, the developers of the Leviathan natural gas field have inked a preliminary deal with Egypt; terms of a final deal are to be negotiated "soon."