The Minister of National Infrastructures, Energy, and Water Resources Yuval Steinitz today approved the deal to sell Delek Group Ltd. (TASE: DLEKG) and Noble Energy Inc. (NYSE: NBL) stakes in the Karish and Tanin gas fields to the Greek company Energean. At the signing of the agreement in Jerusalem, Energean founder and chairman Mathios Rigas and senior partner Stathis Topouzoglou presented plans to develop the fields, which will cost $1 billion and enable gas to flow into Israel in late 2019 or early 2020. RELATED ARTICLES Energean to buy Tanin and Karish gas fields Energean to invest $1b in Israeli gas fields Karish, Tanin sale to Energean approved According the Ministry of Energy's announcement, "Minister Steinitz told Energean representatives that different ways of encouraging the development of small and medium fields are being examined and that the state will be ready to shorten bureaucratic timeframes. Steinitz clarified that he expects them to submit the final plans for approval within a few months and maintain the most rapid project development schedule." Published by Globes [online], Israel business news - www.globes-online.com - on December 13, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016
