NewMed insists $6.7b deal with Dalia Energy cancelled

NewMed Energy insists its $6.7 billion gas supply agreement with Dalia Energy is cancelled, despite the Competition Authority approving the deal in full. NewMed cites unmet pre-conditions, including securing finance and regulatory approval. Dalia Energy maintains the deal is in force and intends to pursue legal action.

NewMed Energy LP insists that its $6.7 billion, 20-year gas supply agreement with Dalia Energy Companies is cancelled, even after the Competition Authority approved the deal in its entirety. NewMed originally cancelled the deal on September 24, 2026, citing unmet pre-conditions, specifically securing finance and obtaining regulatory approval. The Competition Authority's approval was delayed, and at a decisive meeting it set out several substantial reservations before ultimately withdrawing all of them. Despite this, NewMed reiterates its claim that the cancellation was given in accordance with the agreement's provisions. Dalia Energy, however, maintains that the agreement is in force, arguing the cancellation was not given in accordance with the terms and the law. Dalia Energy intends to prosecute all its rights, which apparently includes a legal battle. No response has been received from NewMed.