Monday, August 6, 2018

Egypt to Begin Importing Israeli Gas in 2019 - HAARETZ / REUTERS

Aug 06, 2018 10:28 AM
Avi Waksman and Assa Sasson

Egypt’s Dolphinus Holdings plans to start importing gas from Israel for re-export in the first quarter of 2019, sources in the country’s energy sector said on Sunday, under agreements signed in February to buy $15 billion worth of gas over 10 years. “Imports will start in small quantities first and will gradually increase to reach their climax in September 2019,” one source told Reuters. The source gave no details on prices or quantities. Partners in Israel’s Tamar and Leviathan offshore gas fields, which include Delek Group, Isramco and Ratio, said in February that they would supply Dolphinus with around 64 billion cubic meters of gas over a decade. Although controversial in Egypt, Cairo hopes that the imports will help in its efforts to become a regional energy hub. Delek shares ended up 0.4% at 528.60 shekels ($143.15). (Reuters)