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Is Sells 22% Gas Field to Abu Dhabi
By Micah Halpern

Monday April 26, 2021
I've Been Thinking:

Delek Drilling, one of Israelís largest energy companies, is selling 22% of Tamar - one of its offshore natural gas fields, to a conglomerate owned by the government of Abu Dhabi called Mubadala.

The price of the sale is set at $1.1 billion.

As of now the gas field, which has exceeded all expectations and is successfully driving down the price of natural gas, is jointly owned by Delek Drilling, Chevron, Isramco, which is an Israeli energy company, and a few smaller partners. Delek Drilling is owned by Israeli billionaire Yitzhak Tshuva.

This is very good news. The idea that Israel is becoming a player in the regionís energy market is significant. The fact that Arab countries are partnering with Israel in energy drilling and marketing is monumental.

Times are changing. Ten years ago, this ever happening was just a dream.

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27 April 2021 11:44 AM in Thoughts

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