Israel Electric set to sign new Tamar gas deal - GLOBES

23 Sep, 2019 18:26
Amiram Barkat

The gas price in the new agreement has been lowered to $4.30 per BTU for 18 months.

Israel Electric Corporation (IEC) is close to signing a new agreement with the owners of rights in the Tamar natural gas reservoir. The gas price in the new agreement has been lowered to $4.30 per BTU for 18 months, after which the agreement with IEC will be renegotiated. In effect, the agreement renews the competition between the Tamar and Leviathan reservoirs, because it enables IEC to buy gas from Tamar at a lower price than it obtained from Leviathan. The agreement is also an achievement for the Public Utilities Authority (Electricity), because it improves the terms in comparison with the previous agreement between IEC and Tamar, which the Public Utilities Authority refused to approve.

Leviathan won out over Tamar in a tender published by IEC for the purchase of variable quantities of gas beyond the minimum that it is obligated to buy from Tamar. The holders of rights in the two reservoirs offer the same price - $4.79 per BTU, but IEC management preferred Leviathan to Tamar.

Delek hopes to start gas exports to Egypt by the end of June - ENTERPRISE

Monday, 3 June 2019

Delek looks set to meet its end-of-June target to start gas exports to Egypt: Israel’s Delek Drilling is on track to begin commercial sales of natural gas to Egypt by the end of the month, with technical testing on the pipelines that will carry the gas currently underway, Deputy CEO Yossi Gvura tells Reuters. 

Trial shipments from Israel’s Tamar and Leviathan gas fields were originally supposed to come in March of this year, but capacity restrictions posed by Israel’s domestic pipeline network meant that the imports had to be delayed.

Background: Under the terms of a USD 15 bn contract signed last year, Delek and its partner Noble Energy should supply Alaa Arafa-led Dolphinus Holding with 3.5 bcm from each of the Leviathan and Tamar gas fields for a combined total of 7 bcm. Delek, Noble and Egypt’s East Gas signed a USD 518 mn agreement for a 39% stake in Ashkelon-Arish pipeline operator Eastern Mediterranean Gas (EMG), intended to pave the way for Egypt to begin importing an initial 100 mn scf/d in 1Q2019. 

State veto rights for DEPA Trade despite minority stake - ENERGY PRESS

28/FEB/2019

Investors preparing for gas utility DEPA’s upcoming privatization will face ambiguous operating conditions as the Greek State, to begin by offering a majority 50.1 percent stake in DEPA Trade following an imminent company split ahead of the sale, is expected to maintain veto rights on a number of strategic matters despite its minority status in this trade venture.

Key issues to concern DEPA Trade will include the gas utility’s long-term agreements with major suppliers such as Russia’s Gazprom, Algeria’s Sonatrach and Turkey’s Botas.

DEPA’s contract with Gazprom, which runs until 2026 and is the biggest of all three, features a take-or-pay clause requiring the Greek gas utility to order no less than 1.5 billion cubic meters of natural gas per year or face fines.

DEPA’s supply agreements with Sonatrach and Botas both expire in 2021. The Botas agreement will not be extended as the soon-to-be-launched TAP project will provide direct supply to Greece from Azerbaijan. DEPA has already signed an agreement for one billion cubic meters of TAP-related natural gas per year.

Subsequently, the Greek State will maintain its influence over DEPA’s supply contracts with Sonatrach and Gazprom.

Energean signs additional Gas Sales and Purchase Agreement for Karish and Tanin - ENERGEAN OIL & GAS

London, 2 January 2019

Noble Energy announces execution of gas sales agreements for export of gas to Egypt - WORLD OIL

FEB/19/2018

HOUSTON -- Noble Energy, Inc., has announced that it has signed agreements to sell significant quantities of natural gas from Leviathan and Tamar fields to Dolphinus Holdings Limited to supply gas in Egypt. These agreements, one for natural gas from Leviathan and one for Tamar, each provide for total contract quantities of 1.15 Tcf of natural gas. The natural gas is anticipated to supply industrial and petrochemical customers, as well as future power generation in Egypt.

Sales volumes under the agreement associated with Leviathan field are anticipated to begin at a firm rate of approximately 350 MMcfd at the startup of the Leviathan project at the end of 2019. For the Tamar agreement, sales volumes are anticipated to begin at an interruptible rate of up to 350 MMcfd, dependent upon gas availability beyond existing customer obligations in Israel and Jordan. Noble Energy will have an option to convert the Tamar interruptible quantity to a firm-basis with a significant take or pay commitment. Both contracts are for a 10-year term.

Greece’s Energean inks deals to supply Israeli gas to Dalia and Or - NEW EUROPE

May 31, 2017 09:00
New Europe Online/KG

Dalia and Or will purchase part of their gas requirements from Karish-Tanin to operate the Dalia power plant as well as future power plants to be built by Or

Greece’s Energean Oil & Gas announced on May 30 that its subsidiary Energean Israel has signed with Dalia Power Energies and its sister company – Or Power Energies, two agreements for the supply of natural gas from the Karish and Tanin fields, offshore Israel.

Dalia and Or will purchase part of their gas requirements from Karish-Tanin to operate the Dalia power plant, the largest private power station in Tzafit, south-central Israel, as well as future power plants to be built by Or, Energean said.