Tamar Partners Sign $750M Contract With Israeli Paper Company

Tamar Partners Sign $750M Contract With Israeli Paper Company
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Πεμ, 26 Ιανουαρίου 2012 - 18:21
U.S. energy company Noble Energy Inc. (NBL.TV) and its local partners in Israel's Tamar natural gas field said Thursday that they have signed a $750 million contract to supply natural gas to Hadera Paper Ltd. (HAP.TV) for 15 years.
U.S. energy company Noble Energy Inc. (NBL.TV) and its local partners in Israel's Tamar natural gas field said Thursday that they have signed a $750 million contract to supply natural gas to Hadera Paper Ltd. (HAP.TV) for 15 years.

According to the contract, the deal would begin in the middle of next year and includes the supply of up to 3.3 billion cubic meters of gas, the companies said.

Hadera Paper manufactures and recycles paper products.

This is the fifth contract the Tamar partners have signed to supply gas from their offshore field, which is expected to begin production in early 2013, and is estimated to contain up to 9 trillion cubic feet of gas.

Noble owns 36% of Tamar, and the Delek Group Ltd. (DLEKG.TV) subsidiaries Avner and Delek Drilling Ltd. Ltd. Partnership (DEDRL.TV) each own 15.6%, with several other companies holding the remaining stakes

At 1128 GMT, shares of Avner were up 0.04 shekels, or 1.73%, at ILS2.75 ($0.72); shares of Delek Drilling were up ILS0.11 , or 0.71%, at ILS15.60; and shares of Hadera Paper were down ILS2.70 , or 1.66%, at ILS160.40, in a higher Tel Aviv market.

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