The government intends to issue a tender for the building of a natural gas storage facility.
Delek Group Ltd. (TASE: DLEKG) subsidiary Yam Tethys Ltd. announced yesterday that it was looking at the option of converting and using its natural gas production and transportation facilities in Ashdod for the transportation of imported liquefied natural gas, following the government decision last week to move forward with the project.
Two other energy companies, Avner Oil and Gas (TASE: AVNR.L), and Delek Drilling Limited Partnership (TASE: DEDR.L) have reported the results of a technological-financial feasibility test conducted by Yam Tethys, and the group will decide whether or not it wishes to bid for the tender to build a liquefied gas storage facility, once further data is available.
Yam Tethys's announcement follows last week's decision by the social-economic cabinet to issue a tender for the building of a liquefied natural gas storage facility, which will have an annual storage and transmission capacity of four billion cubic meters by 2015.
Published by Globes [online], Israel business news - www.globes.co.il - on February 25, 2008
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