Negotiations for Acquiring rights in EMG

March 7, 2018 at 4:25 PM EST

Tel Aviv, March 7, 2018. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that attached are Immediate Report published by Delek Drilling Limited Partnership ("the Partnership") regarding negotiations to explore the possibility to acquire interests in East Mediterranean Gas Limited ("EMG")in order to use the gas pipeline owned by EMG for the purpose of flowing natural gas from Israel to Egypt:


Further to the Partnership's disclosure in section 7.14.2(a)(2)(c) and 7.30.4 of the Partnership's 2016 annual report published on March 23, 2017 (reference no. 2017-01-023917) and in the immediate report of the Partnership published on February 19, 2018 (reference no. 2018-01-013587) regarding signing of two agreements between the Partnership and Noble Energy Mediterranean Ltd. ("Noble") and Dolphinus Holdings Limited for export of natural gas to Egypt from the Tamar and Leviathan reservoirs and in particular regarding entering into negotiations with East Mediterranean Gas Limited ("EMG") and its interest owners for the flowing of natural gas to Egypt, the Partnership hereby announces that it has commenced, together with Noble and Egyptian entities, negotiations with interest owners in EMG, to explore the possibility to acquire interests in EMG in order to use the gas pipeline owned by EMG for the purpose of flowing natural gas from Israel to Egypt. 

It should be emphasized that these negotiations are non-binding on the parties unless and until binding agreements are signed, and there is no certainty that such binding agreements will be signed.


It should further be noted that, the entry into force of these agreements (to the extent signed) will be subject to condition precedents, inter alia, receipt of all regulatory approvals required by law, technical test to evaluate and validate the ability to use the EMG pipeline and resolution of the outstanding arbitrations of EMG and its shareholders.


Forward Looking Information Warning - The above information relating to negotiations, constitute forward looking information as such term is defined in the Israeli Securities Law-1968, and there is no certainty that such negotiations will materialize, in full or in part, in the abovementioned manner or in any other manner, and it may in a substantially different manner than described above, and  in particular there is no certainty that these negotiations will materialize into binding agreements and that the conditions precedent required for the entry into force of such agreements, to the extent signed, will be satisfied.


This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on March 7, 2018.


About The Delek Group

Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With eight consecutive finds in the Levant Basin, Delek is leading the region’s development into a major natural gas export hub. In addition, Delek has embarked on an international expansion with a focus on high-potential opportunities in the North Sea and North America. Delek Group is one of Israel’s largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.

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Dina Vince

Head of Investor Relations

Delek Group Ltd.

Tel: +972 9 863 8444