Delek Leads Rally in Israeli Gas Companies on Egypt Export Deal
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Delek Group Ltd. surged the most in a month after its gas-exploration units signed a supply deal with Egypt as part of Israel’s push to boost regional exports of fuel from its second-largest offshore field.
The shares climbed 5.9 percent as Delek Drilling LP and Avner Oil Exploration LP reached the seven-year accord including exports valued at $1.2 billion in the first three years. Delek Drilling and Avner, partners in the Tamar field, rose at least 8 percent on volumes more than double the three-month daily average. The shares were also supported by speculation Prime Minister Benjamin Netanyahu’s election win will enable the government to push through industry regulations.