The terms set out in the Commissioner's decision are substantially similar to the terms set out in the preceding decisions, except that it prescribes that the announcement of the reduction of the purchase quantity will be permitted at any time during the period, which will end at the later of the following periods: (a) the period between January 1, 2020 and December 31, 2022 (in the previous decision, the period was between January 1, 2018 and December 31, 2020); or (b) the period starting at the beginning of the fifth year from the date of natural gas supply and ending at the end of the seventh year ("The Commissioner's New Decision").
The receipt of the Commissioner's New Decision fulfilled the precondition in the agreements related to the decision, which required the Commissioner's approval.
The Tamar partners will take steps to amend the purchase agreements with these consumers in accordance with the Commissioner's New Decision.
The Partnership believes that the Commissioner's New Decision is not expected to have a material effect on the Partnership's projected cash flow from the Tamar project.
For more information please see the immediate reports as published on TASE:
http://maya.tase.co.il/bursa/report.asp?report_cd=1011141
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