Pursuits
Billionaire Tshuva’s Delek Kept From Debt Gush by Israel Gas
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The Tamar gas platform, looming almost as tall as the Eiffel tower offshore Israel, is leading the country to energy independence and helping billionaire Isaac Tshuva repay the gusher of debt he took on to develop it.
A decade-long effort to scrape the bottom of the Mediterranean for energy yielded the 10 trillion cubic feet Tamar find in 2009, then the world’s largest deep-water natural gas discovery. Production will help Tshuva’s Delek Group Ltd. meet 4.42 billion shekels ($1.2 billion) in debt payments in