Israel's Competition Authority Approves Major Gas Deal, Overruling Previous Cancellation
Translated & summarized from TheMarker by baba
Israel's Competition Authority approved a $6.7 billion gas sale from the Leviathan field to Dalia Energies, overriding NewMed Energy and Ratio's previous cancellation claim based on a lack of approval.
The story in 4 lines · by baba
- Competition Authority approved a $6.7 billion gas deal.
- The deal is for gas from the Leviathan field.
- NewMed and Ratio had previously canceled the deal.
- Their reason for cancellation was lack of regulatory approval.
Israel's Competition Authority has approved a significant natural gas sale agreement valued at approximately $6.7 billion. The deal involves the sale of gas from the Leviathan field partners to Dalia Energies. This approval effectively neutralizes the reason cited by NewMed Energy and Ratio for canceling the deal about a month prior. At that time, NewMed and Ratio announced the deal's termination, claiming they had not received approval from the Competition Authority. Dalia Energies had previously rejected these claims, stating the deal was not canceled. The Competition Authority's decision on Tuesday validates Dalia Energies' position and allows the substantial gas transaction to proceed.
