Tamar drilling site (archives)
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Tamar partners in gas talks with S. Korea
Deal estimated at NIS 20 billion, subject to regulatory approval and feasibility of shipping gas. If signed, it may help some of partners with production costs and refunding
The Tamar partners have been holding preliminary talks over the past weeks for the sale of natural gas to South Korea, Calcalist has learned.
Last week, representatives of the partner companies met with Korean representatives and reached agreements for the sale of gas, subjected to regulatory approval and the feasibility of shipping LNG to South Korea.
The deal is for the sale of 4-6 billion cubic meters (BCM) of natural gas per year for a period of 15-20 years.
Gas Reserves
David Shear
With second largest oil shale deposits in the world, some believe it's very possible
If signed, the deal's valuation, similar to the one being negotiated with the IEC, is estimated at NIS 20 billion (about $5.4 billion). It may also help some of the partners with production costs and refunding of previous development loans.
Currently an ad hoc inter-ministerial committee is examining the feasibility of gas exports as well as export allotments, if approved.
One of the models under consideration is the Australian model, in which the Australian government decided to apportion the amount of gas for export as a percentage of its total resources.
This model is not suitable to all countries since Israel has fields that hold reserves too small for exports such as the Noa Zafon field.
Click here to read this report in Hebrew
