Tamar And Leviathan Partners Signed A MOU With The Cypriot LNG Plant On The Southern Coast

Tamar-Rig2

Tamar and Leviathan controlled by Delek Group Ltd. (TASE: DLEKG), and Noble Energy Inc. (NYSE: NBL) has signed a memorandum of understanding with the Cypriot government to build a liquefied natural gas (LNG) plant at Vasilikos on the island’s southern coast. The companies are partners in Israeli offshore fields Tamar and Leviathan and in Cyprus’s Block 12.

The companies’ objective is to reach a final agreement by the end of 2013 to establish a joint special-purpose vehicle which will seek investors for the €7-8 billion LNG plant. “On this basis, it is planned that the first LNG cargo would be delivered from the Vasilikos plant to international markets in late 2019, early 2020,” said an official statement.
Delek Drilling LP (TASE: DEDR.L) CEO and Avner Oil and Gas LP (TASE: AVNR.L) chairman Gideon Tadmor said the memorandum of understanding demonstrates the Cypriot government’s and the companies’ commitment to go ahead with the construction of the LNG plant.
“The signing of the memorandum between the Republic of Cyprus and the companies represents the next milestone on the road map for the exploitation of indigenous gas reserves in Cyprus’ exclusive economic zone”, said Cyprus Minister of Energy, Commerce, Industry and Toursim Yiorgos Lakkotrypis. He added that the LNG plant would be the basic and necessary infrastructure which would allow the export of Cypriot natural gas to the European and global markets.

You can see the article from the source here.

 

Discover the first virtual industrial and technological exhibition in israel – ISRAEL TECHNOLOGY- click here

 

 

Would you like to receive mailings from Israel Industries about the israeli industry news, updates and information ?
Please enter :


Your Name (required)


Your Email (required)


 I agree to receive emails from Israel Industries, updates and information , including promotional offers,new products and services

Responses are currently closed, but you can trackback from your own site.

Comments are closed.