NewMed Energy Cancels Multi-Billion Shekel Gas Deal with Dalia Energy
NewMed Energy, controlled by billionaire Yitzhak Tshuva, announced a dramatic cancellation of its natural gas supply agreement from the Leviathan project to Dalia Energy. The move has immediately sparked a legal dispute involving billions of shekels between the energy giant and one of Israel's largest private power producers.
The partners in the Leviathan project, including NewMed Energy and Ratio, informed Dalia Energy directly of the immediate contract termination. According to the announcement, the cancellation stems from the failure to meet predetermined conditions in the supply contract by the September 24, 2026 deadline.
However, the economic saga is far from over. Dalia Energy responded with a formal letter rejecting the cancellation, asserting that the notice is legally invalid and the agreement remains in effect. The Leviathan partners, conversely, firmly reject Dalia's position, maintaining that the cancellation was executed in accordance with the law and the contract's terms, rendering the termination notice valid.
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