Petroleum Africa
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Friday, August 22, 2014
The natural gas cycle for one country in the Middle East and another in North Africa could be reversed. IsraelandEgypt are in the midst of negotiations that would have Israel supplying natural gas to Egypt instead of the other way around as was done in the past.
Israel has made a number a discoveries off its coast and will be sending some of the surplus to Egypt if the negotiations pan out for the two. Egypt used to sell its natural gas to Israel and deliver it through the Arab Natural Gas Pipeline, but the North African country over the past couple of years has been struggling to meet domestic consumption and its citizens are troubled by rolling black outs on a daily basis. Egypt’s natural gas exports have dwindled down to almost nothing as the government shifts exports into the domestic market.
US independent Noble Energy and units of Israel’s Delek Group plan to deliver as much as 6.25 Tcf of gas from the Tamar and Leviathan offshore fields to LNG facilities in Egypt’s Damietta port and the coastal town of Idku.
Agreements for the natural gas are expected to close prior to the end of the year.
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