Israel-Egypt gas export deal shapes up
Practical steps have been taken that could eventually enable gas from Israel’s offshore to be piped to Egypt
Israel's Delek, the US-based firm Noble and Egypt's East Gas have established a company (Emed) to buy 39% of the 26in, 90km (56-mile) East Mediterranean Gas pipeline for $518m. This investment, combined with a transportation agreement, will provide the partners with the exclusive rights to use all the pipeline's capacity. Of the $518m, the Leviathan and Tamar offshore gasfield partners will each pay $125m, whilst Delek and Noble will each pay another $60m. Most significantly, the East Gas company, which also owns the pipeline from Aqaba in Jordan to el-Arish in Egypt, will invest $148m, which is a considerable amount for Egypt. This strategic partnership with a leading Egyptian infrastructur
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
