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Tuesday, February 20, 2018
Reports have Israel entering a deal to export natural gas from its Leviathan and Tamar fields to neighboring Egypt. Delek, who is partner to Noble Energy on the massive natural gas field, announced two deals to sell gas to private Egyptian company Dolphinus Holdings.
The Dolphinus deal is for 64 Bcm over 10 years and is worth about $15 billion.
According to a report in Haaretz, the deal was praised by Israeli Prime Minister Benjamin Netanyahu, who said the income will “benefit the education, health and welfare of Israeli citizens.” He added that the deal will “strengthen our security, strengthen our economy, strengthen regional relationships, and most importantly, it will strengthen the citizens of Israel.”
The gas is supposed to be supplied from the deepwater offshore gas fields Tamar and Leviathan in the Mediterranean Sea.
The Egyptian company, Dolphinus Holdings Ltd., is a consortium of non-governmental industrial giants led by Dr. Alaa Arfa.
The gas supply should start as soon as the required pipeline infrastructure has been arranged, and will continue until the contract has been fulfilled, or by the end of 2030, whichever is sooner.
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