EnergyWatch

Israel to export natural gas to Egypt in USD 15 billion deal

Partners on Israel's largest gas field have signed a deal with Egypt to supply close to 64 billion cubic meters of natural gas from Israel's Tamar and Leviathan reservoirs

Photo: Magnus Holm, Polfoto

The lead partners in Israel's largest gas fields said they signed a USD 15 billion export deal with Egypt, adding an economic dimension to what until now has been a security-focused relationship between former regional rivals.

Noble Energy Inc. and Delek Drilling-LP said they plan to supply around 64 billion cubic meters of natural gas over 10 years to Egypt's Dolphinus Holdings Ltd. from Israel's Tamar and Leviathan reservoirs. The deal needs regulatory and government approval in Israel and Egypt, they said.

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