$1.75bn Tamar Deals

Partners in Israel’s Tamar natural gas field this week signed two 15-year gas sales deals worth an estimated $1.75bn.

The latest deal was announced on Wednesday with the privately owned Alon Tavor and the Ramat Gavriel power plants near Nazareth in the north of the country. This will see the Tamar field supply 4.5 billion cubic meters (bcm) of gas to the two power companies over 15 years, estimated to be worth $1bn. This implies average supplies of a relatively modest 29mn cfd at an average price of $6.29/’000 cu ft.

The second $750mn deal, signed earlier in the week, is to supply 3.3 bcm of gas over 15 years to the Delek Group’s Sorek IPP power plant west of Jerusalem. This implies 21.3mn cfd at $6.43/’000 cu ft. (CONTINUED - 336 WORDS)

DATA INSIDE THIS ARTICLE

table Latest Tamar Sales Deals