Israel Chemicals Inks Natural Gas Supply Deals Worth Over $1 Billion

Deal will see Tamar and Leviathan fields supply up to 6 billion cubic meters of gas until the end of 2025 for $1.1 to$1.2 billion

Reuters
Reuters
Send in e-mailSend in e-mail
FILE PHOTO: An Israeli gas platform, controlled by a U.S.-Israeli energy group, is seen in the Mediterranean sea, some 15 miles (24 km) west of Israel's port city of Ashdod, February 25, 2013. REUTERS/Amir Cohen/File photo
FILE PHOTO: An Israeli gas platform, controlled by a U.S.-Israeli energy group, is seen in the Mediterranean sea, some 15 miles (24 km) west of Israel's port city of Ashdod, February 25, 2013. REUTERSCredit: \ AMIR COHEN/ REUTERS
Reuters
Reuters

Israel Chemicals Ltd. said on Thursday it signed two deals for the supply of natural gas with the partners in the Tamar and Leviathan gas fields off Israel’s coast that could be worth more than $1 billion.

In December, ICL in December signed a 15-year deal of up to $1.9 billion to buy 13 billion cubic meters of gas from Greek energy firm Energean Oil & Gas, which operates Israel’s Karish and Tanin fields that are expected to start production in 2021.

The deals with Tamar and Leviathan are to secure the firm’s gas needs until Tanin and Karish start operating or in case the deal with Energean is terminated, ICL said in a statement to the Tel Aviv Stock Exchange.

It estimated it could buy up to 6 billion cubic meters of gas from Tamar and Leviathan until the end of 2025 for $1.1 to$1.2 billion, if the Energean deal is terminated. Tamar and Leviathan are mainly owned by Texas-based Noble Energy and Israeli conglomerate Delek Group.

Click the alert icon to follow topics:

Comments

SUBSCRIBERS JOIN THE CONVERSATION FASTER

Automatic approval of subscriber comments.
From $1 for the first month

SUBSCRIBE
Already signed up? LOG IN

ICYMI

בנימין נתניהו השקת ספר

Netanyahu’s Israel Is About to Slam the Door on the Diaspora

עדי שטרן

Head of Israel’s Top Art Academy Leads a Quiet Revolution

Charles Lindbergh addressing an America First Committee rally on October 3, 1941.

Ken Burns’ Brilliant ‘The U.S. and the Holocaust’ Has Only One Problem

Skyscrapers in Ramat Gan and Tel Aviv.

Israel May Have Caught the Worst American Disease, New Research Shows

ג'אמיל דקוור

Why the Head of ACLU’s Human Rights Program Has Regrets About Emigrating From Israel

ISRAEL-VOTE

Netanyahu’s Election Win Dealt a Grievous Blow to Judaism