Published On: Wed, May 13th, 2015

Government considers increasing Israel’s gas export quota

Israel is mulling excluding gas exports to Jordan from the overall export quota.

Israeli Gas
Due to the low expected demand for natural gas in Israel, and the desire to strengthen relations with eastern neighbor Jordan, the Israeli government is considering excluding Jordan from its overall export quota. The plan was revealed by the team of Israel regulators that met yesterday with representatives of Noble Energy Inc. (NYSE: NBL) and Delek Group Ltd. (TASE: DLEKG). The significance of the plan is that the natural gas partners will be able to export more gas.

Last September, the Leviathan partners signed an agreement with the Jordanian Electric Power Company (JEPCO) to export $15 billion worth of natural gas over 15 years. The leviathan partners are due to export 3 to 4 billion cubic meters (BCM) of gas each year for a total of 45 BCM… [READ MORE]

 

Published by Globes [online], Israel business news – www.globes-online.com

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