01/05/2014, 11:24
Union Fenosa needs gas for its liquid gas export terminal in Egypt
Spanish gas company Union Fenosa SA (Madrid: UNF) is in talks with the Tamar partners to buy 20% of the natural gas in the field. The Tamar natural gas field partners are Noble Energy Inc. (NYSE: NBL), Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L), Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) and Alon Natural Gas Exploration Ltd. (TASE: ALGS).
If the agreement is signed with the Tamar partners then the natural gas will be exported through Union Fenosa and ENI's liquid natural gas installation in Egypt.
Such a contract would be worth $1.3 billion annually for the Tamar partners.
The Tamar field contains 10 trillion cubic feet of gas.
Published by Globes [online], Israel business news - www.globes-online.com - on May 1, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014
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Link to source: http://www.globes.co.il/en/article-spanish-co-in-talks-to-buy-20-of-tamar-gas-1000935599
