Israel: LNG terminal

Delek Group Ltd, a subsidiary Delek Energy Systems Ltd and Isramco Ltd, wants to participate in the tender for a USD 400 million LNG terminal. The terminal is due to be completed by 2015.  The companies are partners in the Tamar and Dalit natural gas prospects offshore from Haifa and Hadera.  The terminal is aimed at creating an independent strategic source of natural gas and reducing Israel’s dependence on gas from Egypt’s East Mediterranean Gas Co. (EMG) and the Tamar reserves.  The BOT (build, operate, transfer) tender includes the construction of the LNG terminal and its operation for 20-30 years in exchange for regular royalties to be financed by gas transportation proceeds. Bids for the prequalification stage are due by September, and the final tender is scheduled to be published in March 2010.  International energy companies are interested in the tender, including Italy-based ENI SpA , Japan-based Mitsubishi Corp., and Norwegian-based shipping firm Golar LNG Ltd.  Eilat Ashkelon Pipeline Company (AEPC), jointly owned by the Israeli and Iranian governments (Iran is an inactive partner) is considering participating in the tender.
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