Gazprom signs deal to market Israel's Tamar LNG project
BY JAMES MARSON
MOSCOW -- Gazprom said that it has signed a deal to market LNG from the Tamar FLNG project in Israel.
Gazprom Marketing & Trading (GM&T) Switzerland signed heads of agreement for exclusive offtake from the Tamar project for 20 years with Levant LNG Marketing Corporation.
Gazprom is increasing its involvement in LNG as demand for gas delivered by pipeline to Europe, its most lucrative market, declines. In recent years large amounts of natural gas have been discovered off Israel's coast. The Tamar field contains around 9 Tcf of gas.
The Tamar LNG project, based on the Tamar and Dalit offshore fields, is scheduled for commissioning in 2017 and expected to produce 3 MMmt of LNG per year.
Dow Jones Newswires