Sources inform ''Globes'' that Russian energy giant Gazprom plans to jointly bid for the Benjamin offshore gas exploration license, located near the Mira and Sarah licenses. Its partners will be IDB Holding Corp. Ltd. (TASE:IDBH), Modiin Energy LP (TASE:MDIN.L), and Israel Land Development Company (TASE: ILDC).
The Benjamin prospect is a strip between Tel Aviv and Hadera. It is 1.7 times larger than the Mira and Sarah licenses combined. PetroMed Corporation, controlled by Canada's Bontan Inc. (Bulletin Board: BNTNF), previously owned the license, but lost it when the company failed to meet the license terms set by the Ministry of National Infrastructures. The ministry is due to publish a new tender for the license, although the date is not yet known.
In March, Israel Land bought the Mira and Sarah licenses from PetroMed for $16 million.
Government-owned Gazprom is the world's third largest natural gas supplier, providing 25% of Europe's gas needs.
Published by Globes [online], Israel business news - www.globes-online.com - on April 13, 2010
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