Tag Archive for Delek Group & Noble Energy

Palestinian Power Company Reneges on Israel-Palestine Natural Gas Contract

After delays by Israel’s Antitrust Authority to make decisions, Palestine Power Generation Co decided to cancel its $1.2-billion Leviathan contract with the Delek Group & Noble Energy.

By Arutz Sheva Staff


An Israeli partner in the Leviathan offshore gas field said on Wednesday a Palestinian Arab company had cancelled a $1.2-billion supply contract, citing delays by Israel’s Antitrust Authority.

Delek said it had informed the Tel Aviv stock exchange that a 20-year contract it had signed with the Palestine Power Generation Co was cancelled by the Arabs on Tuesday, reports AFP.

Delek said this was because of “non-fulfillment of the conditions precedent set forth in the agreement, and essentially non-receipt of the approval of the Antitrust Authority, the delay in approving the development plan of the Leviathan project as well as other regulatory approvals required by law.”

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WSJ reports Egypt ready to import Israel natural gas if conditions are met

Egyptian Oil Minister told Wall Street Journal that gas price must be right and the current legal complaint by Union Fenosa Gas against Egypt must be dropped.

By i24news


Egypt is ready to take the controversial step of importing natural gas from Israel, if the price is right and if one of the gas companies involved in the deal drops legal action, Egyptian Oil Minister Sherif Ismail told The Wall Street Journal on Thursday.

Tamar offshore drill platform – Photo: Delek energy

“We would approve the gas deal if it will meet domestic demand, offer high value for the Egyptian economy and if the international arbitration with one of the companies is resolved,” Ismail said. Continue Reading »