‘Historic’ $15 Billion Israel-Egypt Gas Deal Delayed Until End Of 2019

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A historic $15 billion gas deal between Israel and Egypt set to go into effect in the next several weeks has now been delayed until the end of the year, Reuters reported on Wednesday.

Delek Drilling, one of Israel’s largest energy companies, signed agreements in 2017 with its associate Noble Energy of the United States to supply 2.26 trillion cubic feet (64 billion cubic meters) of gas from Israel’s Leviathan and Tamar offshore fields to the Egyptian firm Dolphinus over a 10-year period.

CEO of Delek Drilling, Yossi Gvura, told Reuters in June that the company hoped that their Egyptian sells would commence by the end of the month, but the company said on Tuesday exports had not yet begun.

Revised estimates now predict commercial sales to Egypt will begin by the end of 2019, partly due to forecasted demand for gas in Israel over the summer.

Read more at i24NEWS.



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