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Head of Israel’s Antitrust Agency Wants Delek Out of 3 Gas Digs

Gilo regards this as an acceptable structure for the Israeli gas industry.

israel gas

Israeli Antitrust Authority Director General Prof. David Gilo today offered the natural gas monopoly of Noble Energy and Delek Group Ltd. (TASE: DLEKG) a compromise, only two months after declaring that he intends to break their monopoly, Globes reported.

The compromise will have Delek Group sell its holdings in both the Tamar natural gas reservoir and the smaller Karish and Tanin reservoirs to a third party.

Gilo told Globes he regarded this as an acceptable structure for the Israeli gas industry.

Isramco Negev 2 LP (TASE: ISRA.L) is going to remain the only provider of gas from the Tamar reservoir; Noble Energy and whomever buys the Delek Group’s holdings will not be allowed to sell to Israeli customers.

In the much bigger Leviathan reservoir, the three partners — Noble Energy, Delek Group, and Ratio Oil Exploration (1992) LP (TASE:RATI.L), will be allowed to keep their stakes, but they each must reach separate agreements with Israeli customers.

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