29/05/2016, 16:15
Hedy Cohen
Leviathan will supply 13 BCM over 18 years to the IPM power plant in Be'er Tuvia.
The partners in the Leviathan natural gas reservoir today announced the signing of a gas supply agreement with the IPM company in Be'er Tuvia. The partnership will supply 13 BCM of gas to the power station slated for construction in the Be'er Tuvia industrial zone. The value of the 18-year agreement is estimated at $3 billion. The contract is the second for the partners, following a contract with Edeltech, owned by the Edelsberg family, last January.
Tel Aviv, January 31, 2016.
Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that attached is an Immediate Report submitted by each of Avner Oil Exploration Limited Partnership and Delek Drilling Limited Partnership ("the Partnerships") with regard to an agreement that was signed for the supply of natural gas between the Partnerships and the other Leviathan Partners and Edeltech Ltd.
Further to the provisions of the Partnerships’ immediate reports of January 7, 2016 regarding the holding of talks and/or negotiations of the partners in the Leviathan project, including the Partnership (the “Leviathan Partners”) for the marketing of natural gas to potential consumers in the local market, the Partnerships hereby respectfully announce as follows:
On Saturday evening, January 30, 2016, an agreement was signed for the supply of natural gas between the Partnerships and the other Leviathan Partners and Edeltech Ltd. (“Edeltech” or the “Buyer”), whereby Edeltech will buy from the Leviathan Partners natural gas for the purpose of operating power plants which it is due to build, together with its Turkish partner Zorlu, in Ashdod and Mishor Rotem (the “Supply Agreement”).
According to the Supply Agreement, the Leviathan Partners undertook to supply to the Buyer natural gas at a total scope of approx. 6 BCM (billion cubic meters) (the “Total Contractual Quantity”), in accordance with the terms and conditions specified in the Supply Agreement.
