Delek Group reports on Approval of Outline Plan for Organization of the Natural Gas Market
OREANDA-NEWS. December 21, 2015. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces pursuant to what was stated in section 1.7.25(3) of the Company's Annual Report to December 31, 2014 that was published on March 30, 2015 (ref. no. 2015-01-067483), and the Company's Immediate Report dated August 17, 2015 (ref. no. 2015-01-097854) concerning the Government's approval of the outline plan to increase the amount of natural gas produced from the Tamar natural gas field and the rapid development of the Leviathan, Karish and Tanin natural gas fields and other gas fields ("the Gas Outline Plan" or "the Outline"), subject to provision of a waiver under section 52 of the Anti Trust Law, 1988 ("the Anti Trust Law"), as stipulated in the Outline, that on December 17, 2015 the Gas Outline Plan was validated, after the Prime Minister in his capacity as Minister for the Economy exercised his authority under section 52 of the Anti Trust Law.
Below (respectively) are links to the website of the Prime Minister's Office concerning the Prime Minister's announcement and the wording of the Outline:
http://www.pmo.gov.il/MediaCenter/Speeches/Pages/speechGas171215.aspx
http://www.pmo.gov.il/Secretary/sederyom/gov34/Documents/n105.pdf
The Partnerships, Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership have added in respect of approval of the Outline that since the Outline has become effective as stated above, the Partnerships will act to implement it in accordance with its terms and the terms of the leases, and in particular will act, together with their partners in the Leviathan and Tamar leases, to continue making investments and carrying out the necessary actions for the rapid development of the Leviathan field and the expansion of the Tamar field.
About The Delek Group
The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 40 TCF.
In addition, Delek Group has a number of assets in downstream energy, water desalination, and in the finance sector.
For more information on Delek Group please visit www.delek-group.com
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