Newmed Energy-limited Partnership, IL0004750209

NewMed Energy cancels USD 6.70 billion deal and NewMed Energy stock holds 45.30 percent

Published on 10/09/2026 at 13:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NewMed Energy canceled a USD 6.70 billion gas deal on October 8, 2026. NewMed Energy stock holds 45.30 percent of Leviathan offshore.

Key points in brief

NewMed Energy canceled a USD 6.70 billion gas supply agreement tied to the Leviathan field on October 8, 2026.
The contested contract covered 20 years, with annual gas deliveries planned at 1.30 billion cubic meters initially and 1.70 billion later.
NewMed Energy held a 45.30 percent working interest in Leviathan and had a market capitalization of ILS 18.7 billion as of October 9, 2026.
The stock was trading at ILA 1,591.00 on the Tel Aviv Stock Exchange on October 9, 2026.

Newmed Energy-limited Partnership, IL0004750209, Illustration mit AI erstellt.

NewMed Energy canceled a USD 6.70 billion gas supply agreement on October 8, 2026, while NewMed Energy stock is tied to a 45.30 percent working interest in the Leviathan field. The Jerusalem Post reported that Dalia Energies disputes the cancellation and is considering legal action.

Three dates define the dispute

In May 2026, NewMed Energy and Ratio agreed to supply gas from Leviathan for a 20-year contract valued at USD 6.70 billion, according to TradingView. The planned supply was 1.30 billion cubic meters a year from 2030, rising to 1.70 billion cubic meters later in the agreement.

On September 24, 2026, the sellers notified Dalia Energies that the agreement was terminated because they said conditions precedent had not been fulfilled on time, as The Jerusalem Post reported. On October 8, 2026, NewMed and Ratio reiterated the cancellation, while Dalia maintained that the contract remained in force.

What does the dispute mean for gas volumes?

The immediate issue is the value and duration of the planned sales stream: USD 6.70 billion over 20 years, with annual deliveries moving from 1.30 billion cubic meters to 1.70 billion cubic meters. Globes reported that Dalia argues the agreement is valid after the Competition Authority approved it, leaving the parties facing a possible legal battle.

NewMed Energy's asset exposure is material because the company says it holds 45.30 percent of Leviathan, its flagship offshore gas field. The company's investor-relations page dated its second-quarter 2026 report to August 13, 2026 and listed the October 7, 2026 termination report among its immediate reports, linking the contract dispute to the latest disclosure sequence.

Contract dates set the next milestones

The planned supply was scheduled to begin in 2030 and run through 2049, according to TradingView. Those dates are commercial milestones rather than confirmed operating events, because the parties now disagree over whether the contract was legally terminated.

Stock stays tied to the legal outcome

NewMed Energy stock was trading at ILA 1,591.00 on the Tel Aviv Stock Exchange on October 9, 2026 at 1:44 p.m. IDT. The quoted level was ILA 14.00 above the prior close of ILA 1,577.00, while the 52-week range stood at ILA 1,534.00 to ILA 2,290.00 and market capitalization was ILS 18.7 billion on the same date.

Market context: Market report TA-35.

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