Egypt, Israel in $15-bln gas deal

Egypt

TEL AVIV, February 20, 2018 – Israel has signed a deal to deliver USD 15 billion worth of gas to Egypt, international media reported on Monday.


The 64 bcm (2.26 tcf) of gas sold to Dolphinus Holdings, a private Egyptian company, over a period of 10 years would come from the Tamar and Leviathan fields in the Mediterranean Sea, Reuters reported.

Israel’s energy minister, Yuval Steinitz, told the agency that it is the most important export deal Israel and Egypt have signed since their 1979 peace accord.

The Tamar field started producing in 2013. Development of the Leviathan field is about 40% complete and it is expected to come on stream in 2019, operator Noble Energy announced on Tuesday.

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