Gazprom Marketing & Trading and Levant LNG Marketing Corporation executed the Heads of Agreement (HOA), outlining the main terms of an exclusive offtake arrangement from Tamar floating LNG project for a 20-year period. The aim of the future deal is to expand Gazprom's LNG marketing and trading portfolio. The agreement follows an earlier Letter of Intent signed between the two parties in March 2012.
The Tamar FLNG project is based on feed gas from Tamar and Dalit gas fields offshore Israel, in the Eastern Mediterranean Sea, being developed by the Tamar upstream consortium (Noble Energy Mediterranean, Delek Drilling, Avner Oil Exploration, Isramco Negev-2 and Dor Gas). In November 2011 Tamar Partners signed an agreement with DSME, NextDecade and D&H Solutions to initiate joint development and implementation of a floating LNG facility scheduled for commissioning in 2017 with an estimated annual output of 3 Mt/year. Shortly after the midstream project company, Levant LNG Marketing Corporation, was established to conduct discussions with potential LNG offtakers.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.