SUBSCRIBE
PROFILE

BP and ADNOC offer nearly $4 billion to buy 50% of NewMed Energy

Israeli gas group NewMed Energy has received an offer to buy 50% of its capital for about $4 billion. This proposal comes from a consortium formed by BP and ADNOC, British and Emirati energy giants.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The Israeli gas group NewMed Energy announced on Tuesday that it had received an offer to buy 50% of its capital from a consortium formed by the British giant BP and the Emirati company ADNOC for about 4 billion dollars. BP confirmed the offer in a statement issued in London, without revealing the amount.

NewMed holds the exploitation rights to more than 45% of Israel’s largest offshore natural gas field, Leviathan, whose production is exported to Jordan and Egypt, in addition to supplying the Israeli domestic market. The participation of an Emirati group in this offer is a sign of the normalization undertaken in recent years between Israel and several Arab countries in the process known as the “Abraham Accords”.

“The offer we received today is the result of the warm relationships and bridges we have built over the past few years with energy companies in the region […] and will propel [l’entreprise] from a regional to a global player” in the gas sector, writes NewMed.

Israel’s Energy Minister, Israel Katz, welcomed the offer announced on NewMed Energy, seeing it as “proof of the potential of Israel’s natural gas industry to attract the world…and above all of the stability of the relationship and trust between Israel and the United Arab Emirates.

The announcement of the offer on NewMed comes as Israel and the Emirates, which normalized diplomatic relations in 2020, signed a customs agreement on Sunday, the final step toward the entry into force of their 2022 free trade agreement, the first of its kind between Israel and an Arab country.

This offer is a testament to the confidence of international companies in the Israeli energy industry and the normalization of diplomatic relations between Israel and Arab countries. BP and ADNOC’s $4 billion bid for a 50% stake in NewMed Energy is a strong signal that will propel the company from a regional to a global player.

  • Popular on energynews.pro
Trump maintient l’alliance avec l’OPEP malgré la pression sur Caracas
United States: winter cold drives up natural gas price forecasts
ExxonMobil shuts down steam cracker in Singapore and redirects assets to China
ExxonMobil cuts $10 billion from its low-carbon plans by 2030
Sound Energy launches gas production at Tendrara after six-month delay
China receives first Russian LNG shipment via sanctioned Beihai terminal
The Valera LNG carrier delivered a shipment of liquefied natural gas (LNG) from Portovaya, establishing a new energy route between Russia and China outside Western regulatory reach.
Hungary hosts TurkStream headquarters after asset freeze in the Netherlands
South Stream Transport B.V., operator of the offshore section of the TurkStream pipeline, has moved its headquarters from Rotterdam to Budapest to protect itself from further legal seizures amid ongoing sanctions and disputes linked to Ukraine.
Panama Canal sidelined as US LNG flows shift decisively toward Europe
US LNG exports are increasingly bypassing the Panama Canal in favour of Europe, seen as a more attractive market than Asia in terms of pricing, liquidity and logistical reliability.
IOC seeks spot LNG cargo for Dahej as Russian sanctions tighten
Indian Oil Corporation has issued a tender for a spot LNG cargo to be delivered in January 2026 to Dahej, as Asian demand weakens and Western restrictions on Russian gas intensify.
McDermott secures EPCIC contract for gas project offshore Brunei
McDermott has secured a major engineering, procurement, construction, installation and commissioning contract for a strategic subsea gas development offshore Brunei, strengthening its presence in the Asia-Pacific region.
Fluor and JGC deliver second LNG Canada unit in Kitimat
The partnership between Fluor and JGC has handed over LNG Canada's second liquefaction unit, completing the first phase of the major gas project on Canada’s west coast.
NOG acquires 49% stake in Utica gas assets for $588mn with Infinity
Northern Oil and Gas and Infinity Natural Resources invest $1.2bn to acquire Utica gas and infrastructure assets in Ohio, strengthening NOG’s gas profile through vertical integration and high growth potential.
Sanctioned Russian LNG vessel delivers to China’s Beihai port
China has received its first liquefied natural gas shipment from Russia’s Portovaya facility, despite growing international sanctions targeting Russian energy exports.
Brazil’s free gas market reaches 13.3 Mcmd with unprecedented industrial shift
Brazil’s natural gas market liberalisation has led to the migration of 13.3 million cubic metres per day, dominated by the ceramics and steel sectors, disrupting the national competitive balance.
Sasol inaugurates gas processing unit to supply Temane thermal power plant
Sasol has launched a new gas processing facility in Mozambique to secure fuel supply for the Temane thermal power plant and support the national power grid’s expansion.
Congo LNG reaches 3 mtpa and anchors the strategic gas axis between Eni and Europe
With the addition of Nguya FLNG to Tango, Eni secures 3 mtpa of capacity in Congo, locking in non-Russian volumes for Italy and positioning Brazzaville within the ranks of visible African LNG exporters.
JERA signs 10-year LNG supply deal with Torrent Power
Japan’s JERA has signed a liquefied natural gas supply contract with India’s Torrent Power for four cargoes annually from 2027, marking a shift in its LNG portfolio toward South Asia.
NEO NEXT+ becomes the UKCS’s largest gas producer with TotalEnergies and Repsol
The merger of TotalEnergies and Repsol’s UK assets into NEO NEXT+ creates a 250,000 barrels of oil equivalent per day operator, repositioning the majors in response to the UK’s fiscal regime and basin decline.
QatarEnergy steps up pressure on the EU in response to the CSDDD directive
Climate requirements imposed by the European due diligence directive are complicating trade relations between the European Union and Qatar, jeopardising long-term gas supply as the global LNG market undergoes major shifts.
Colombia: electrification could avoid $190mn in gas imports by 2030
A report forecasts that improved industrial energy efficiency and residential electrification could significantly reduce Colombia’s need for imported gas by 2030.
US oil activity slows as gas drives M&A rebound in 2026
Falling rig counts and surging natural gas demand are reshaping the Lower 48 energy landscape, fuelling a rebound in gas-focused mergers and acquisitions.
Nigeria unlocks $128 million to repay gas debts
The Nigerian government has approved a payment of NGN185bn ($128 million) to settle debts owed to gas producers, aiming to secure electricity supply and attract new investments in the energy sector.
Riley Permian sells New Mexico gas project for $111 million
Riley Exploration Permian has finalised the sale of its Dovetail Midstream entity to Targa Northern Delaware for $111 million, with an additional conditional payment of up to $60 million. The deal also includes a future transfer of equipment for $10 million.
Stanwell secures exclusivity on 1,860 MW hybrid energy project in Gladstone
Stanwell has secured an exclusive agreement with Quinbrook for the development of the Gladstone SDA Energy Hub, combining gas turbines and long-duration battery storage to support Queensland’s electricity grid stability.
US LNG profitability under pressure as domestic prices surge
The growth of US liquefied natural gas exports could slow if rising domestic costs continue to squeeze margins, as new volumes hit an already saturated global market.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.