Delek, Dalia Strike $5B Natural Gas Deal

Law360, New York (January 9, 2012, 5:38 PM EST) -- Delek Group Ltd. has entered into an agreement to sell natural gas from the massive Tamar field off the coast of northern Israel to Dalia Power Energies Ltd. that could generate $5 billion over 17 years, Delek said Monday.

Delek Drilling LP and Avner Oil Exploration LP, two Delek units that hold a 31 percent stake in the Tamar project, said Dalia will buy up to 1.38 billion cubic meters of gas over that period at prices that could generate up to $5 billion.

"Actual revenue...
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