NEPCo and Israeli-American Noble Energy Gas Company Sign Agreement

Deal to Supply 40% of NEPCo Natural Gas Consumption, USD300m Annual NEPCo Excess

تم نشره في Mon 26 September / Sep 2016. 12:00 AM
  • Israeli-American Noble Energy Gas Company facility at the Mediterranean - (Agencies)

AMMAN —Al Ghad— The National Electric Power Company (NEPCo) signed the natural gas sourcing agreement with Israeli-American Noble Energy (East Mediterranean) to supply Jordan with 40 per cent of NEPCo’s annual consumption of gas, saving the Electricity Company close to USD300 million annually with the global oil price range between USD50 and USD60 per barrel, expected to save more as Brent crude prices increase.

The agreement is intended to realise the comprehensive energy strategy objective to diversify energy sources, including expansions into the fields of renewable, nuclear, and oil shale energy.

Moreover, the 1994 Jordan-Israeli peace agreement includes in Article (19) the regulation of collaboration in the energy sector, including joint linkage and pipeline expansions.