Oil and Gas

Partners sign deal to export $15 bln in Israeli natgas to Egypt

TEL AVIV, Feb 19 (Reuters) - The partners in Israel’s Tamar and Leviathan natural gas fields have signed 10-year agreements to sell $15 billion worth of natural gas to Egyptian company Dolphinus, Delek Drilling said on Monday.

Various possibilities for transmission of the gas to Egypt are being examined, including use of the East Mediterranean Gas pipeline. Delek Drilling and its partner, Texas-based Noble Energy, intend to begin negotiations with EMG for the use of the pipeline to Egypt, Delek said in a statement.

Other possibilities for the export of 64 billion cubic meters of gas are being examined, including the Jordanian-Israeli pipeline being built in accordance with a deal to supply gas from Leviathan to Jordanian electric company NEPCO.

“Egypt is becoming a real gas hub,” Delek Drilling CEO Yossi Abu told Reuters. “This deal is the first deal of potentially more to come.” (Reporting by Tova Cohen and Ari Rabinovitch)