Tamar Partners Sign Deal for Gas Export to Jordan

The partners in the Tamar project signed an agreement to export natural gas to consumers in Jordan.

Arab Potash and Jordan Bromine will receive gas for an initial term of 15 years from 2016, once minimal required pipeline infrastructure has been completed. The total gross contract quantity of approximately 66 billion cubic feet of natural gas.

“The execution of this agreement evidences the growing regional opportunities for our natural gas and brings forward value for the Tamar asset.  We have now signed the first regional export agreements for both Tamar and Leviathan, and we are in a number of additional negotiations to sell significant quantities of natural gas from both fields to multiple customers," Keith Elliott, Noble Energy's Senior Vice President, Eastern Mediterranean, commented in a note released on Wednesday.

Noble Energy operates Tamar with a 36% working interest.  Other interest owners are Isramco Negev 2 with 28.75%, Delek Drilling with 15.625%, Avner Oil Exploration with 15.625%, and Dor Gas Exploration with the remaining 4%. 

The Tamar, which is a field off the coast of Israel, has an estimated 10 trillion cubic feet of discovered natural gas resources.

According to a note released by Delek Group, the determined gas price is linked ‘mostly to the prices of Brent and includes a floor price.’