Tamar Signs Contract with Paz for approximately $700 million

abarrelfullabarrelfull wrote on 05 Apr 2012 05:19
Tags: delek israel m-east refinery upstream

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Take-or-Pay agreement for the supply of natural gas over 15 years was signed by the Tamar Partners with Paz Ashdod Refinery Ltd. to supply up to a total approximate quantity of 3.12 BCM. In the agreement the gas price will be linked to electricity production rate as determined time to time by the Public Utility and Electricity Authority and includes a ''floor rate''. The supply is expected to start in mid-2013. The agreement is subject to a number of closing conditions. For more information please see the immediate reports as published on TASE. http://maya.tase.co.il/bursa/indeximptoday.htm

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