By JAMES MARSON
MOSCOW -- OAO Gazprom has signed a deal to market liquefied
gas (LNG) from the Tamar floating LNG
project in Israel, the Russian gas giant said
in a statement Tuesday.
Gazprom Marketing & Trading Switzerland signed heads of
agreement for exclusive offtake from the Tamar project for 20 years with Levant LNG
The state-controlled energy firm is increasing its
involvement in LNG as demand for gas delivered by pipeline to
Europe, its most lucrative market, declines.
In recent years, large amounts of natural
gas have been discovered off Israel's coast. The Tamar field
contains around 9 trillion cubic feet of gas.
The Tamar LNG project, based on the Tamar and Dalit offshore fields, is
scheduled for commissioning in 2017 and expected to produce 3
million tpy of LNG.
Dow Jones Newswires