NewMed Energy cancels USD 6.7 billion deal: what it means for NewMed Energy stock
Published on 10/08/2026 at 14:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
NewMed Energy-limited Partnership stock (ISIN IL0004750209) is tied to a USD 6.7 billion gas contract that NewMed Energy canceled on October 8, 2026, according to The Jerusalem Post. The dispute gives NewMed Energy stock a concrete contract and legal risk as Dalia Energy challenges the cancellation.
What the dispute means
The canceled agreement covered gas deliveries from the Leviathan field to two planned power stations from 2030. The planned contract ran for 20 years and was valued at USD 6.7 billion, making its status material for NewMed Energy's future sales profile.
The Jerusalem Post reported on October 8, 2026 that Dalia rejected NewMed Energy's position, argued that the agreement should be fulfilled and said it intended to pursue its legal rights.
Three contract milestones
On May 20, 2026, NewMed Energy and Ratio announced the planned gas supply agreement, with initial deliveries of up to 1.3 billion cubic meters per year, according to Yahoo Finance.
On September 24, 2026, the sellers notified Dalia of the termination, citing conditions precedent that had not been fulfilled by the specified dates, as Yahoo Finance reported. On October 8, 2026, NewMed Energy reiterated the cancellation while Dalia maintained that the contract remained valid.
What comes next for supply
The planned volume was set to rise to 1.7 billion cubic meters per year from 2034 or 2035, while each proposed power station was designed for 850 megawatts. Those figures show the scale of the disputed growth opportunity, but the contract's legal status now determines whether the volumes enter NewMed Energy's forward sales base.
The company also remains anchored by Leviathan, where its investor-relations page says it holds a 45.3 percent working interest and uses production cash flow to support distributions and development. The NewMed Energy investor-relations page lists the second-quarter 2026 report dated August 13, 2026.
Leviathan remains the anchor
NewMed Energy is listed on the Tel Aviv Stock Exchange under ticker NWMD, and its 45.3 percent Leviathan interest remains the core operating asset. The contract dispute therefore sits alongside an established production business rather than replacing the company's wider gas portfolio.
NewMed Energy stock facts
- Company: Newmed Energy-limited Partnership
- ISIN: IL0004750209
- Ticker: NWMD
- Primary exchange: Tel Aviv Stock Exchange
- Sector / Industry: Oil and gas exploration and production
Market context: Market report TA-35.
