Ellomay Capital Announces Execution of Long Term Gas Supply Agreement Between Dorad Energy and the Partners in the "Tamar" License

Ellomay Capital

, today reported the execution of a long term natural gas supply agreement between Dorad Energy Ltd. ("Dorad"), a private Israeli company in which the Company indirectly holds 7.5% of the issued and outstanding share capital, and the partners in the "Tamar" license. The following update relates to recent publications in the Israeli press and the receipt by the Company of the notice from Dorad that it entered into an agreement with the partners in the "Tamar" license, located in the Mediterranean Sea off the coast of Israel (the "Agreement" and "Tamar," respectively). Pursuant to the notice received from Dorad, subject to the fulfillment of certain conditions precedent that are set forth in the Agreement, Dorad will purchase natural gas from Tamar for purposes of operating the power plant constructed by Dorad in Ashkelon, Israel. In addition, pursuant to the notice received from Dorad, the main terms of the Agreement are as follows: