• Contact
  • Privacy Policy
Blacksonrise.com
DONATE
  • Consultation EST
  • Herbal Internal Wash
  • Group Training
  • Videos
  • Spiritual Detox
  • Ecourses
  • Client Area
    • Course Login
    • Video Login
    • LogOut
No Result
View All Result
  • Consultation EST
  • Herbal Internal Wash
  • Group Training
  • Videos
  • Spiritual Detox
  • Ecourses
  • Client Area
    • Course Login
    • Video Login
    • LogOut
No Result
View All Result
Blacksonrise.com
No Result
View All Result

Israel starts exporting natural gas to Egypt under landmark deal – SABC News

blacksonrise by blacksonrise
January 15, 2020
in Uncategorized
0
Israel starts exporting natural gas to Egypt under landmark deal – SABC News
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

Israel began exporting natural gas to Egypt on Wednesday under one of the most important deals to have been signed by the neighbors since they made peace decades ago.

A private firm in Egypt, Dolphinus Holdings, will purchase 85 billion cubic meters (bcm) of gas, worth an estimated $19.5 billion, from Israel’s Leviathan and Tamar offshore fields over 15 years.

Yossi Abu, CEO of Israel’s Delek Drilling, one of the partners in Leviathan and Tamar, said the landmark arrangement “marks a new era in the Middle East energy sector”.

Israel will initially export 200 million cubic feet of gas per day to Egypt, two Egyptian industry sources said. Gas from Leviathon will be supplied to Dolphinus at a rate of 2.1 bcm per year, rising to 4.7 bcm per year by the second half of 2022, according to Delek.

The gas is being supplied via a sub sea pipeline connecting Israel and Egypt’s Sinai peninsula.

Exports of Tamar gas to Dolphinus are expected to start later this year.

Israeli officials have called the export of gas to Egypt the most significant deal to emerge since the countries signed a historic peace treaty in 1979.

Advertisements

Egypt is hoping the deal will help it become a regional energy hub, with some of the gas expected to be re-exported to Europe through liquefied natural gas (LNG) plants.

The North African country is currently exporting one billion cubic feet of gas to Europe every month via 10 shipments, the country’s petroleum minister said in remarks published on Wednesday.

Tarek El Molla also told El Watan newspaper that Egypt wanted to boost gas shipments to Europe to 20 a month after restarting the Damietta LNG plant.

Damietta has been idled for years due to a lack of gas supply during a dispute with Union Fenosa Gas (UFG), a joint venture between Spain’s Gas Natural and Italy’s Eni.

Damietta is 80% owned by UFG, with the remaining 20% split evenly between the state-owned Egyptian Natural Gas Holding Company and the Egyptian General Petroleum Corporation.

Molla also said Egypt was planning a bidding round for oil drilling in the western Mediterranean Sea and was in talks with Chevron, Exxon Mobile and Total.

Credit: Source link

Previous Post

Moresby South MP Gives 10 Boats to Island Families, Eencourage Economic Empowerment

Next Post

Woman Who Refuses to Support Adopted Daughter's Trip to Meet Her Biological Mom Gets Roasted

Next Post
Woman Who Refuses to Support Adopted Daughter’s Trip to Meet Her Biological Mom Gets Roasted

Woman Who Refuses to Support Adopted Daughter's Trip to Meet Her Biological Mom Gets Roasted

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

HOT Updates

No Content Available

BlackSonRise.com is an online news portal which aims to provide Caribbean News, African News, Business and much more stuff like that. Feel free to get in touch with us!

Follow us on social media:

Recent News

  • Eyewitness: Christmas Eve… | INews Guyana
  • UK stocks edge higher in muted holiday trading – SABC News
  • History repeats for NYCFC against Costa Rican debutant

Subscribe NOW

Loading
  • Contact
  • Privacy Policy

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

No Result
View All Result
  • Consultation EST
  • Herbal Internal Wash
  • Group Training
  • Videos
  • Spiritual Detox
  • Ecourses
  • Client Area
    • Course Login
    • Video Login
    • LogOut

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

USD $
  • USD USD $
  • EUR EUR €
  • GBP GBP £