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Bethel Finance news:
Hadera Paper Ltd. (TASE: AIP; Pink Sheets: AIP) estimates it could lose at NIS 80,000-100,000 a day, or even more, due to disruption of natural gas deliveries from Yam Tethys. Hadera Paper said that it will have to purchase more expensive diesel to make up for the shortfall in gas deliveries.
In a notice to the TASE today, Hadera Paper said that Yam Tethys partner Noble Energy Inc. (NYSE: NBL notified it that it would reduce deliveries from Yam Tethys immediately. Noble Energy added that deliveries should again increase from July 2012. Yam Tethys attributes its inability to meet the contractual amounts of gas deliveries to "force majeure".
Noble Energy's partner in Yam Tethys is Delek Group Ltd. (TASE: DLEKG).
On Thursday, Delek, Noble Energy, Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) and Alon Natural Gas Exploration Ltd. (TASE: ALGS) announced a 15-year $750 million contract to supply gas to Hadera Paper from the Tamar field.
"Hadera Paper's share price fell 0.3% in morning trading on the TASE today to NIS 160.30, giving a market cap of NIS 818 million" Said Mr. Cedric Marmet from Bethel Finance Ltd.
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