$6.7 Billion: Leviathan reservoir energy deal approved

Competition Commissioner Michal Cohen has decided to grant an exemption from restrictive arrangement approval for the natural gas sale agreement between Dalia Power Energies Ltd. and two of the partners in the Leviathan gas field, NewMed Energy and Ratio Energies. The decision was reached following consultation with the Exemptions and Mergers Committee, based on the determination that the arrangement would not significantly harm competition in the relevant markets and that its primary purpose is not to reduce or prevent competition.The approval was granted unconditionally, though the commissioner refrained from approving a single restraint regarding secondary trading restrictions, referring the parties to self-assess its compliance with the block exemption conditions set by law.The agreement, signed on May 19, 2026, covers the supply of natural gas from the Leviathan reservoir for two new combined-cycle power generation facilities (with a capacity of approximately 850 megawatts each) to be built by subsidiaries controlled by…