Europe > Southern Europe > Cyprus > Israel's Delek Group have accepted a request from the Cyprus state gas

Cyprus: Israel's Delek Group have accepted a request from the Cyprus state gas

2014/08/20

Israel's Delek Group announced that its gas subsidiaries have accepted a request from the Cyprus national gas distributor DEFA to postpone the period of validity of the proposition and acceptance in its terms of a binding agreement for the supply of natural gas, from August 15 to November 30 as Financial Mirror online reported.

DEFA launched on January 25 an open competition for the supply of natural gas, for a period of up to ten years, commencing January 1, 2016.

Four proposals were received in response. In a statement on its website, Delek said that "further to the proposition submitted for the supply of natural gas through pipelines from the Leviathan project within a framework that was published by the Government of Cyprus through a Governmental gas company DEFA, Delek Group's gas subsidiaries announced today that they have accepted the request from DEFA to postpone the period of validity of the proposition and acceptance in its terms of a binding agreement for the supply of natural gas, from August 15, 2014 to November 30, 2014".

Accordingly, it added, "next the proposition has been recognized as eligible and DEFA begins with the commercial examination process, negotiations are expected to take place between DEFA and the bidders in the near next". CNA reported that DEFA has as well asked the other bidders in the public tender for the supply of natural gas to Cyprus to extend the validity of their bids.

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