The Cypriots hope to obtain a price of $10-11 per million BTU in the present tender. LNG prices are currently $17 or higher, whereas the price of Israeli natural is almost two-thirds lower. Israel is the only country with the means to deliver gas to Cyprus, either via pipeline or by compressed natural gas (CNG). Natural gas could be compressed at a facility built in Israel. The gas could come from the Tamar field, which currently produces surplus gas during night hours, from Leviathan in future, or from smaller fields that Noble Energy Inc. and Delek Group Ltd. will sell.
Posted on: Sun, 26 Jan 2014 21:02:20 +0000
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