Israel Starts Exporting Natural Gas to Egypt

Daniel Fowler
January 17, 2020

This would enable Israel to transfer some of its natural gas to Europe via factories in Egypt, said Tarek el Molla, noting that this reflects the country's growing role as a regional hub of natural gas.

On Wednesday, Israel began its first day of exporting natural gas to its southern neighbor Egypt as part of a deal signed last month.

It is hoped that this will open the European market to future Israeli energy exports.

The gas is being exported by a subsea pipeline through the Sinai peninsula.

Prime Minister Benjamin Netanyahu and Energy Minister Yuval Steinitz at the Leviathan natural gas field off Caesarea, Netanyahu's home town, January 31, 2019.

In Tel Aviv, stocks in Ratio Oil Exploration 1992 LP, which has a 15% stake in Israel's biggest gas field, were up 2.7% by 1:14 p.m. Delek Drilling, a partner in the country's two largest reservoirs, climbed 2.4%.

United flight makes emergency landing at Newark after wing flames
The passenger told PIX11 that even before getting off the ground the flight was delayed out of Newark due to "some sort of issue". Passenger Nicole Adamo tweeted that it was "the most terrifying experience of my life" watching the wing and engine.

Millions of dollars that Cairo owed in legal settlements over an earlier deal mired in corruption have been forgiven as a result of the deal, which marks the latest chapter in a saga that has seen Israeli and Egyptian gas fortunes rise and fall - and at times left Israelis and Egyptians in the dark and fuelled protests.

Delek Drilling's CEO Yossi Abu hailed Wednesday's launch as a "new era in the Middle East energy sector".

Egypt is also set to allow Israel to export some of its natural gas to Europe through Egypt's liquefied natural gas (LNG) facilities.

During the meeting, the energy ministers of Israel, Egypt, Italy, Greece, Cyprus, Jordan and the Palestinian Authority are expected to approve turning the EMGF into a regional organization, according to the statement.

Israel's delegation has been working with the other countries to put together the EMGF's treaty, which the ministers will sign, the statement said, "in what will be another significant step on the path to consolidating the organization and its activities". Egypt also plans to use its own giant Zohr field to supply gas-hungry Europe.

Other reports by

Discuss This Article