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  HOME | Oil, Mining & Energy (Click here for more)

Israel Starts Exporting Gas to Egypt

JERUSALEM – Israel has begun supplying natural gas to Egypt from its deposits in the Mediterranean, a spokeswoman for the Ministry of Energy told EFE on Wednesday.

The move is in line with Israel’s ambitions to become one of the largest exporters of gas in the region.

“The step will both enable Israel to export some of its natural gas to the region via Egypt’s gas liquefaction plants, and promote Egypt’s status as a regional gas hub,” Israeli Energy Minister Yuval Steinitz and Egyptian Oil Minister Tarek al Mola said in a joint statement.

This 15-year deal will allow Israel to export part of its gas to Europe through Egyptian facilities, and will enhance the status of Egypt as a regional distribution hub.

Both leaders will present a progress report at a meeting this afternoon at the Eastern Mediterranean Gas Forum in Cairo, where delegations from Italy, Greece, Cyprus, Jordan and the Palestinian National Authority (PNA) are expected to approve the creation of a regional body that deals with gas issues.

The consortium of the Israeli company Delek Drilling and the US Nobel Energy, which operate and develop the two natural gas fields of Israel on the high seas (Tamar and Leviathan), approved an agreement in February to provide gas to the Egyptian Dolphinus company.

In 2016, the Jordanian public company National Electrical Power Co. (NEPCO) also signed an agreement with this consortium to receive Israeli gas for 20 years. As the Ministry of Energy told EFE, the export to Jordan has already started a week ago.

Earlier this month, Israel agreed with Greece and Cyprus to build the EastMed submarine pipeline to supply the EU and create a new energy corridor to the continent.

The natural gas found in Israeli waters this last decade will allow the country to be self-sufficient in the energy field, and with the beginning of its commercialization it aspires to become one of the exporters of this product.

 

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