Delek Group responds to press releases regarding suspension of negotiations for export of Natural Gas to Egypt
Reference to Press Releases regarding the Suspension of Negotiations for Export of Natural Gas to Egypt
Delek Group (“the Company”) announces that attached is an Immediate Report just published by Avner Oil Exploration Limited Partnerships and Delek Drilling Limited Partnerships (“the Partnerships”) concerning various reports in the media with regard to freezing the talks in connection with the import of natural gas to Egypt. It is noted that as per this immediate report, the Delek Group Partnerships as well as other partners in the various projects in Israel are not parties to the arbitration proceeding with the Egyptian National Gas Companies.
In response to various reports in the media according to which the Egyptian government has instructed the Egyptian national gas companies (Egyptian General Petroleum Corp. and Egyptian Natural Gas Holding Co.) (the “Egyptian National Gas Companies”) to freeze the talks in connection with the import of natural gas from Israel to Egypt, due to the ruling made in the arbitration proceeding between the Israel Electric Corporation Ltd. and the Egyptian National Gas Companies, we hereby clarify as follows:
The Partnerships and its partners in the various projects in Israel are not parties to the arbitration proceeding with the Egyptian National Gas Companies. As stated in Articles 7.13.5 and 7.14.2 of the Partnerships’ periodic report dated December 31, 2014 which was published on March 18, 2015, the Partnerships and its partners in the Leviathan project and the Tamar project, are holding negotiations, in various stages, for the export of natural gas to neighboring countries, including Egypt.
The aforementioned negotiations are not with the Egyptian National Gas Companies but rather with commercial companies. The Partnerships and its partners in the Leviathan project and the Tamar project are in regular contact with these companies and are continuing the aforementioned negotiations as planned. In addition, the parties will continue to work with the competent authorities in the governments of Israel and Egypt for obtaining all the required approvals in connection with the agreements for the export of gas from Israel to Egypt.
(Delek Group Press Release)