×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: ML | Israel | Egypt

Israeli Gas Company Announces $15B Export Deal with Egypt

Monday, 19 February 2018 08:38 AM EST

JERUSALEM (AP) — Israeli energy company Delek Drilling has announced a $15 billion deal to supply natural gas to Egypt.

Delek and its U.S. partner, Noble Energy, signed a deal Monday 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, said in an interview that the deal is the largest-ever export agreement for Israel's nascent natural gas industry. He called 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.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Israeli energy company Delek Drilling has announced a $15 billion deal to supply natural gas to Egypt.Delek and its U.S. partner, Noble Energy, signed a deal Monday to sell a total of 64 billion cubic meters of gas over a 10-year period to Egyptian company Dolphinus...
ML,Israel,Egypt
126
2018-38-19
Monday, 19 February 2018 08:38 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved