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Post by
flush777on Feb 19, 2018 10:45pm
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Post# 27585408
Israel to Export Natural Gas to Egypt in $15 Billion Deal
Israel to Export Natural Gas to Egypt in $15 Billion DealI am uncertain if this is good for us ...
https://www.bloomberg.com/news/articles/2018-02-19/noble-delek-sign-15-billion-deal-to-export-israel-gas-to-egypt
It’s not clear how the new deal fits into Egypt’s plans to export gas from its giant Zohr field. Italy’s Eni, which discovered the field in August 2015, aims to pump 2.7 billion cubic feet of gas per day from Zohr by end-2019. Russia’s state-owned producer Rosneft PJSC closed a deal in October to acquire 30 percent of the field, and BP Plc bought a 10 percent stake last year.
Delek has said that even when Zohr reaches full production it won’t be able to keep up with rising demand. The company noted Monday that Egypt changed its domestic law in September to allow private entities to sign agreements to import gas, and regulations were amended last week to implement the law.