Israel’s state utility IEC announced on 24 January that it has reached agreement with the partners of the country’s second largest producing field, 10.5tcf Tamar, to reduce the price it pays for gas by 29%, from current pricing of $6.36/mn BTU to an anchor price of $4.50/mn BTU.

IEC initially last year signed an MoU to reduce the price it paid for gas from Tamar (MEES, 23 July 2021). (CONTINUED - 449 WORDS)