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2018-02-20 Israel-Palestine-Jordan
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Israeli gas company announces $15b export deal with Egypt
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[IsraelTimes] Israeli energy company Delek Drilling announces a $15 billion deal to supply natural gas to Egypt.
Delek and its US partner, Noble Energy, sign a deal to sell a total of 64 billion cubic meters of gas over a 10-year period to Egyptian company Dolphinus Holdings.
Yossi Abu, chief executive of Delek Drilling, says in an interview that the deal is the largest-ever export agreement for Israel’s nascent natural gas industry. He calls it "great news" for both countries.
He says he expects most of the gas to be used for Egypt’s domestic market. But he says it could help pave the way toward turning Egypt into an export hub for Israeli gas.
The gas is expected to start flowing next year.
| Update from Al Ahram at 11:30 a.m. ET: |
Egypt MP requests petroleum minister be summoned to explain reports of gas deal with Israel
Egyptian leftist MP Abdel-Hamid Kamal, who represents the governorate of Suez, has submitted an urgent information request on Tuesday asking that Petroleum Minister Tarek El-Molla be summoned to parliament as soon as possible to explain to MPs reports that Israel has signed two agreements to sell gas to Egypt.
Kamal's request, submitted to parliament speaker Ali Abdel-Aal, said "importing natural gas from Israel would be in violation of Article 139 of the constitution, which states that the main job of the president of the republic is to preserve the people's interests and maintain the independence of the state and the integrity and safety of its land."
"Any gas deal with Israel goes against this article, as Israel is still an enemy of Egypt in practical and de facto terms," argued Kamal, who is affiliated with the leftist Tagammu Party.
Kamal told Ahram Online that "gas deals with Israel pose a big threat to Egypt's internal security and national economy… It gives Israel, an enemy to Egypt, a hand to manipulate Egypt's economy, as dependence on gas imports from the Jewish state for a long period of time will surely be very risky," said Kamal.
In response, the Egyptian Natural Gas Regulatory Authority said it is not aware of the signing of such an agreement.
Authority chairman Karem Mahmoud told Al-Ahram Arabic news website that companies have the right to sign agreements to import or export gas, but such agreements must be presented to the authority for approval.
The authority has said in a statement that “there is no certainty” that the deal will go through given that the legal conditions for such an agreement have not been met yet."
Egypt passed a new natural gas law last year that allows for competition in the market by granting licenses to import gas for private companies. 
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Posted by trailing wife 2018-02-20 00:00||
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Posted by Skidmark 2018-02-20 03:57||
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Posted by trailing wife 2018-02-20 07:52||
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Posted by g(r)omgoru 2018-02-20 08:59||
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Posted by Frank G 2018-02-20 15:16||
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