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Delek targets London listing

The company is looking to establish a newco on the LSE, while also divesting its Tamar stake

Israeli producer Delek Drilling filed a request in early December to list a new company on the London Stock Exchange (LSE) in a move built upon buoyant investor interest in its giant Leviathan gas field and the broader East Mediterranean gas play. The move comes as the company has 12 months to reduce to zero its 22pc working interest in the Tamar gas field in order to comply with local anti-monopoly regulations. Delek Drilling’s other assets comprise a 45pc stake in the Leviathan gas field, 30pc of Cyprus’ 3.5tn ft³ Aphrodite gas field, a stake in the EMG pipeline, as well as the New Ofek and New Yahel licences onshore Israel. It will also receive royalties from the Israeli Karish and Tanin

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