Globes: IEC Extends LNG Floating Tanker Contract
The Public Utilities Authority (Electricity) has approved the continued use by Israel Electric Corporation of the liquefied natural gas (LNG) floating container and the purchase of LNG from the gasification tanker off the Hadera coast until 2019, sources inform "Globes."
The demand for LNG imports as a backup in emergences stems from the shortage of gas created in 2011-2012 after gas stopped flowing from Egypt and the Yam Tethys reservoir ran dry. In pursuit of this, a marine LNG container was established 10 kilometers west of Hadera, and the services of a US gasification tanker were leased.
The lease period for the tanker terminates in October 2017, and IEC asked the Public Utilities Authority (Electricity) several months ago to recognize the cost of leasing it for two additional years, explaining that the tanker was an "insurance policy" for the Israeli gas sector. MORE