Israel Corp. and the Tamar partners signed a $4 billion contract on Sunday, agreeing that Noble Energy, Delek Group, Isramco and Alon Natural Gas Exploration would provide for Israel Corp’s gas needs.

The deal turned Israel Corp into Israel’s second largest natural gas consumer, after the Israel Electric Company.

Advertisement



Though Israel Corp will be needing $10 billion worth of gas, the deal is for the short term, in anticipation of the entrance of competing gas suppliers, including Leviathan.

The deal will enable Israel Corp subsidiaries Israel Chemicals, Oil Refineries Ltd. And OPC Rotem to buy 16-20 billion cubic meters of gas from the Tamar field.

The deal comes after the collapse of an agreement between Israel Corp and an Egyptian gas provider following the fall of President Hosni Mubarak.

Advertisement

SHARE
Previous articleMontreal Radio Host Suspended for Caller’s Anti-Semitic Rant
Next articleFarmers: Tomato Prices Doubled Due to Gaza War
Malkah Fleisher is a graduate of Cardozo Law School in New York City. She is an editor/staff writer at JewishPress.com and co-hosts a weekly Israeli FM radio show. Malkah lives with her husband and two children on the Mount of Olives in Jerusalem.

3 COMMENTS

Comments are closed.

Loading Facebook Comments ...