Natural gas pumping from Israel to Egypt to start on Wednesday

Source: Ahram Online 1/15/2020, Location: Africa

Natural gas pumping from Israel to Egypt will start on Wednesday, the Egyptian ministry of petroleum announced in a statement early on Wednesday.

The ministry added that this step is an important development that serves both countries economic interests, and it will enable Israel to transport its natural gas to Europe through Egyptian liquefied natural gas factories.

Under the landmark deal, a private firm in Egypt, Dolphinus Holdings, will purchase 85 billion cubic meters (bcm) of gas, worth an estimated $19.5 billion, from Israel’s Leviathan and Tamar offshore fields over 15 years.

Yossi Abu, CEO of Israel’s Delek Drilling, one of the partners in Leviathan and Tamar, said the arrangement “marks a new era in the Middle East energy sector”. The gas is being supplied via a subsea pipeline connecting Israel and Egypt’s Sinai peninsula.

Israeli officials have called the export of gas the most significant deal to emerge since the countries signed a historic peace treaty in 1979.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects


Nigeria >>  6/28/2022 - Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that...
Denmark >>  6/27/2022 - Following the further invasion of Ukraine, Russia continues to use natural gas as a political and economic weapon. Russia's energy coercion has put p...

Egypt >>  6/27/2022 - Minister of Petroleum and Mineral Resources Tarek El Molla has met with Secretary General Ali Sabt Bin Sabt of the Organization of Arab Petroleum Expo...
Nigeria >>  6/27/2022 - The British independent energy company Savannah Energy PLC is pleased to announce that Central Horizon Gas Company Limited ("CHGC"), a subsidiary of A...

Australia >>  6/24/2022 - Key points:
• The Gas Sales Agreement (GSA) negotiation period with CleanCo Queensland Limited (CleanCo) has been extended until the earlier of e...

Ukraine >>  6/23/2022 - EBRD lends Moldova €300 million to boost energy security through strategic gas acquisitions - Revolving loan will be on-lent to state-owned energy tr...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.