Israeli energy firm inks $35b gas deal, largest in Israel’s history

By JNS Staff

 

NewMed Energy and the rest of the Leviathan reservoir partners on Thursday signed the largest gas export deal in Israel’s history, involving 130 BCM (billion cubic meters) worth an estimated $35 billion to be sold to Egypt through 2040.

NewMed Energy (previously known as “Delek Drilling”) holds 45.34% of the Leviathan reservoir, according to the company’s website. With 22.9 trillion cubic feet of recoverable gas, Leviathan is the largest gas reservoir in the Mediterranean.

“The agreement we signed today is the largest and most significant in the history of our natural gas sector, and one of the largest in the history of the country,” said Yossi Abu, CEO of NewMed Energy.

The deal will strengthen regional stability and Israeli energy security, he added…

READ FULL ARTICLE HERE… (jns.org)

 

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