Gazprom in LNG Purchase Deal with Israel
From New Europe
A Gazprom subsidiary has signed a 20-year deal with Levant LNG Marketing Corp. for the exclusive purchase of liquefied natural gas from Israel‘s Tamar offshore gas field, Gazprom said on 26 February.
Delek‘s subsidiaries said a heads of agreement deal was signed by Levant Marketing Corp. and Gazprom‘s trading arm for the sale of three million tonnes per year of LNG from the giant Tamar natural gas field in the Mediterranean Sea.
Delek said gas from Tamar would be developed using a floating LNG facility in a way that doesn‘t affect the supply of natural gas to the Israeli market.
Gazprom is the world‘s biggest gas producer and relies heavily on pipeline supplies to Europe, which make up around 80% of its revenues. The Russian gas monopoly wants to build up its LNG trading business to diversify away from traditional European customers receiving natural gas via pipelines.
