Isramco has notified the Tel Aviv Stock Exchange that it has signed a non-binding memorandum of understanding for the sale of 80 billion cubic meters of natural gas from the Tamar field to a client in Egypt.
Isramco is one of the partners of the Tamar consortium. The Emirati company Mubadala also joined it. The remaining partners – Chevron, Dor and Aaron Frenkel – have not yet announced their intention to join the deal.
If all partners join the deal, its value will be $20 billion.
It should be emphasized that the transaction will require permission from the state regulator.