Tamar partners in talks to amend Israel Electric gas deal

JERUSALEM – A number of partners in the Tamar natural gas field off Israel’s coast have offered utility Israel Electric (IEC) [ISECO.UL] a discount on a new gas supply deal.

The offer came from three of the six members of the group — Tamar Petroleum (TMRP.TA), Isramco Negev (ISRAp.TA) and Dor Gas Exploration, which own some 49% of the project, Tamar said in a regulatory statement in Tel Aviv.

Earlier this year, state-run IEC signed a gas supply deal with the Leviathan field, which is also off Israel’s Mediterranean coast and set to begin production later this year.

Tamar said it would give a total discount of $70 million.

Any changes to the deal would require approval by all the Tamar partners, including Noble Energy (NBL.N), Delek Drilling (DEDRp.TA) and Everest Infrastructure. Noble and Delek are also partners in Leviathan.

IEC declined to comment.



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