The Israel Land Administration is against a deal that would see the kibbutz transfer leasing rights to the US energy company.
The Israel Land Administration (ILA) opposes an options agreement between Kibbutz Ma'ayan Tzvi and Noble Energy Inc. (NYSE: NBL). Noble Energy wants to build a gas terminal on 150 dunams (37.5 acres) of the coastal kibbutz to receive natural gas from the Tamar and Dalit fields.
However, a letter from the ILA's legal advisor that has been seen by "Globes" said that the ILA is against a deal that would see the kibbutz transfer leasing rights to the US energy company. This is because such a transfer of rights would be against the Israel Land Council's policies and the Land Settlement Law.
Noble Energy owns 36% of the Tamar prospect and 39.6% of the smaller Dalit field.
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2010
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