Israel energy consortium signs $10 billion gas deal with Jordan

 

The Delek energy group just signed a 15 year deal that will see the sale of Israel’s natural gas worth $10 billion to the Hashemite Kingdom of Jordan.

By The Associated Press

 

Israel’s Delek Group, one of the developers of the country’s biggest natural gas reservoir, says it has signed a deal to sell gas to neighboring Jordan.

Delek Drilling CEO Yossi Abu – Photo source: Ynet

The agreement, announced Monday, would provide 45 billion cubic meters (1.6 trillion cubic feet) of gas to Jordan over 15 years. Delek says revenues could amount to $10 billion.

Delek Drilling CEO Yossi Abu hailed the “historic” deal and said developers of the Leviathan reservoir would pursue similar agreements with others in the region, including Egypt, Turkey and the Palestinian Authority.

Resource-poor Israel announced the discovery of sizeable offshore natural gas deposits about five years ago, and a partnership of Israeli and US companies, including Texas-based Noble Energy and Delek, have already begun extracting.

Israel and Jordan signed a peace deal in 1994.

 

View original Ynet publication at:
http://www.ynetnews.com/articles/0,7340,L-4859917,00.html

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