Noble And Delek To Sell Israeli Gas Fields

Israel’s Delek Group and Texas-based Noble Energy, who dominate gas exploration and production offshore Israel, will sell two of their smaller fields under a deal cut with Israel’s competition authorities this week.

Israel’s Antitrust Authority earlier this year ruled that the pair had been operating as a cartel (MEES, 16 May). Israel’s Energy Ministry this week gave its authorization to a deal the pair have struck with the competition authority which will see them sell the 1.8 tcf Karish and 1.2 tcf Tanin fields (see table).

As part of the deal, the fields’ natural gas will only be sold in the domestic market by the buyer. MEES understands Delek and Noble are in discussions with three firms looking to purchase the fields, which include Italy’s Edison and international trading giant Vitol. (CONTINUED - 312 WORDS)

DATA INSIDE THIS ARTICLE

table Delek And Noble Israeli Gas Field Stakes