Israel to Supply Egyptian Company With $15 Billion Worth of Gas
February 19 2018 - 11:51AM
Dow Jones News
By Rory Jones
TEL AVIV--Investors in Israel's natural-gas fields agreed Monday
to supply an Egyptian company with $15 billion worth of gas, a deal
that will help boost economic and diplomatic ties between the two
Eastern Mediterranean neighbors.
Houston's Noble Energy Inc. and Israel-based Delek Drilling LP
will supply 64 billion cubic meters of natural gas over 10 years
from the Tamar and Leviathan fields to Egypt's Dolphinus Holdings
Ltd, Delek said in a statement.
The companies would evaluate a number of potential options for
transporting the gas, including linking Israeli and Egyptian gas
grids, Delek said.
The Leviathan reservoir was one of the largest natural-gas finds
ever when discovered in 2010 but development of the field and
exports from it stalled for years amid geopolitical obstacles and
Israeli bureaucratic red tape.
Write to Rory Jones at Rory.Jones@wsj.com
(END) Dow Jones Newswires
February 19, 2018 11:36 ET (16:36 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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