23:02
Reported

News Brief

  2/19/2012, Shevat 26, 5772

Electric Company Signs Deal for Gas from Tamar


The board of directors of the Israel Electric Company approved an agreement, Sunday evening, to buy natural gas from the Tamar partnership operating off Israel's Mediterranean coast. The directors waived conditions they had set: Getting the lowest price in the market and setting a new agreement with every regulatory change.

The utility has been getting its natural gas from Egypt. The supply has been disrupted by sabotage of the Sinai pipeline, and various Egyptian entities have cited the price Israel is being charged as being lower than what the market dictates.