An Israeli court has approved a class action suit against NewMed Energy over allegations that the company failed to disclose a material risk in a landmark gas export agreement that helped establish Israel as a regional gas power.
The 10 June decision by Tel Aviv’s Economic Court concerns amendments made in 2019 to long-term gas supply agreements with Egyptian gas buyer Dolphinus (now Blue Ocean Energy), which underpin exports to Egypt from the Chevron-operated 22.4tcf Leviathan and 13.7tcf Tamar gas fields. (CONTINUED – 721 WORDS)
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