[Jpost] Israel will begin natural gas exports to Egypt within four months, Energy Minister Yuval Steinitz told Rooters on Wednesday.
The flow will secure the start of a $15 billion export agreement between Israel’s Delek Drilling and Texas-based partner Noble Energy with an Egyptian counterpart in what Israeli officials called the most significant deal to emerge since the neighbours made peace in 1979.
Egypt hopes to leverage its strategic location and well-developed infrastructure to become a key international trading and distribution centre for gas, a potentially remarkable turnaround for a country that spent about $3 billion on annual liquefied natural gas (LNG) imports as recently as 2016. |