Israel approves $35 bil Egypt gas export deal - S&P Global

December 18, 2025
Matt Hoisch

The Israeli government has approved the previously-announced $35 billion agreement to expand gas exports from the country's Leviathan offshore gas field to Egypt, Prime Minister Benjamin Netanyahu said late Dec. 17, in what he described as "the largest gas deal in Israel's history."

"This deal greatly strengthens Israel's status as a regional energy power and contributes to stability in our region," he said while addressing the country. "It encourages other companies to invest in gas exploration in Israel's economic waters."

The agreement will see some 130 Bcm of gas flow to existing Leviathan offtaker Blue Ocean Energy to 2040 "or until all contract quantities are fulfilled," according to statements from NewMed Energy, one of the partners in the Leviathan field.

It will replace an existing export agreement due to end in the early 2030s.

Israel to increase natural gas exports to Egypt, companies say - REUTERS

OCTOBER 2, 2019 / 9:47 AM

Reporting by Tova Cohen and Ari Rabinovitch

(Reuters) - Israel will significantly increase the amount of natural gas it plans to export to Egypt under a landmark deal, energy companies in Israel said on Wednesday.

Partners in Israel’s Leviathan and Tamar offshore gas fields signed a deal last year to sell $15 billion worth of gas to a customer in Egypt in what Israeli officials called it the most significant deal to emerge since the neighbors made peace in 1979.

Under the amended agreement, the companies said the amount to be sold from the Leviathan field will nearly double to 60 billion cubic meters (bcm) of gas over 15 years. Exports from the nearby Tamar field will be reduced to 25.3 bcm from 32 bcm over the same period.

One source in the Israeli energy industry estimated the value of gas to be exported was now $19.5 billion — $14 billion coming from Leviathan and $5.5 billion from Tamar.

Texas-based Noble Energy, Israel’s Delek Drilling and Ratio Oil own Leviathan. Noble, Delek Drilling, Isramco and Tamar Petroleum are leading partners in the Tamar field.

If Egypt Won’t Buy Israel’s Gas, Maybe Israeli Consumers Will - HAARETZ

Sep 19, 2019 5:03 AM
Ora Coren

If Israel is having trouble selling its natural gas overseas, maybe it will have better luck selling it to Israeli consumers.

That’s the reasoning behind a pilot project to hook up 15 new residential neighborhoods to the national gas pipeline network. Instead of having gas cylinders delivered by truck, homes would be connected by pipeline and gas could then be used for more things than cooking and heating.

The Energy Ministry, which is behind the project, faces a lot of skepticism from the local industry about the economic viability to households using more gas. The pilot, which will include subsidiaries to the tune of 80 million shekels ($22.7 million), aims to prove them wrong.

“There’s a lot of uncertainty about it, so the government is acting wisely and before it jumps into the deep waters of regulations it is examining for itself and for the gas distribution companies whether they can provide the service,” said one source involved in the project.

Israel to begin gas exports to Egypt within four months: Minister - AL ARABIYA / REUTERS

Wednesday, 24 July 2019, KSA 14:11 - GMT 11:11

Israel will begin natural gas exports to Egypt within four months, Energy Minister Yuval Steinitz told Reuters on Wednesday.

He also said that a deal to buy stakes in the East Mediterranean Gas Company’s pipeline between the two countries will be completed “within weeks” and that more connections could be built between them.

Steinitz also said that more economic pressure should be applied on Iran, and that it “must be stopped.”

Leviathan natural gas platform starts voyage to Israel - REUTERS

JULY 14, 2019 / 10:48 AM

JERUSALEM, July 14 (Reuters) - The gas platform for the Leviathan natural gas field is on its way to Israel from the Gulf of Mexico, the partners in the project said on Sunday.

The first of four barges transporting the production structure units has left Texas and the other three will set sail in the coming weeks. In September, all the units will be installed on the jacket of the platform already in place 10 kilometres from Israel’s shore.

After connecting the units to the platform, Noble Energy , one of Leviathan’s partners, will start a series of commissioning tests before initiating commercial gas flow to the domestic market before the end of 2019.

Earlier this month, testing of a subsea natural gas pipeline to Egypt was completed, in the wake of a deal to export $15 billion in gas to a customer in Egypt.

Leviathan, with 22 trillion cubic feet of reserves, was discovered in 2010 and is one of the world’s largest gas discoveries of the past decade. 

Egypt committed to working with US, highest standards in gas projects - ENTERPRISE

Tuesday, 21 May 2019

El Sisi meets with Noble Energy boss, says Egypt is committed to strengthening ties with the US: A meeting between President Abdel Fattah El Sisi and Noble Energy CEO David Stover tops the front pages of Al Ahram, Al Akhbar and Al Gomhuria this morning. El Sisi used the occasion to reaffirm Egypt’s commitment to strengthening strategic ties with the US and said the country was following the highest standards in its gas exploration and production projects.

Other coverage of the story: Noble, which is helping lead the charge to develop Israeli gas fields and sell the offtake to Egypt, is interested in a helping build a gas pipeline between Egypt and Cyprus, an unnamed Oil Ministry source told Youm7. No further details were provided on the company’s plans. Egypt and Cyprus signed an agreement last year, which would allow natural gas from the Aphrodite gas field to be transported to Egypt’s liquefaction facilities at Idku and Damietta, and re-exported as liquefied natural gas.

Cyprus Aphrodite gas field partners near deal - KATHIMERINI

14 MAY 2019 : 15:45

Kathimerini reports that stakeholders in the Aphrodite gas field have agreed to commit natural gas from Cyprus’ Block 12 to Egypt’s LNG facilities from where it will be exported to international markets. A few legal details remain and are expected to be clarified within days.

Noble Energy, Royal Dutch Shell and Delek Drilling aim to utilize Egypt’s existing LNG facilities to speed up commercialization of Aphrodite.

The Aphrodite field is located 160 km south of Limassol and 30 km northwest of the Leviathan field. The field was discovered following drilling of the A-1 discovery well, which began on 20 September 2011, continued for 116 days, and reached a depth of 5,860 meters below sea level.

Block 12 is expected to hold 3.6 to 6 trillion cubic feet of natural gas.

The field is estimated to produce about 800 million cubic feet per day in the first production phase, according to Delek.

Cyprus-Egypt Aphrodite Gas Field Lures Investors - THE NATIONAL HERALD

Cypriot Parliamentary Speaker Demetris Syllouris, center, with
counterparts Ali Abdel-Aal of Egypt, right, and Nikos Voutsis of Greece,
left, talk during a press conference i the parliament house in capital
Nicosia, Cyprus, Monday, Feb. 11, 2019. (AP Photo/Petros Karadjias)

February 11, 2019

NICOSIA – A deal between Egypt and Cyprus to develop the Aphrodite gas field off the island’s coast is drawing keen interest from international oil companies, Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla said.

In an interview with the Cyprus News Agency, he said the gas pipeline between the countries will see a commercial agreement coming that would be lucrative for the countries as part of the East Mediterranean Gas Forum.

He said there are political benefits with money being an equalizer and that with so many countries linked to the field’s findings that the multi-national aspects could show the world that the often volatile region is “the most ready option with the least risk” for gas supply of Europe.

As for the option of East Med pipeline between Cyprus, Greece, Israel and Italy, he said that the feasibility study for the project would take up to two years, “which in itself is a luxury the region can’t afford any more,” saying the Egyptian model is better.

U.S. Assistant Secretary of State for Energy Resources Francis R. Fannon to visit Israel and Egypt - JERUSALEM POST

An Israeli gas platform is seen in the Mediterranean sea,
some 15 miles west of Ashdod (photo credit AMIR COHEN/ REUTERS)

NOVEMBER 10, 2018 07:38
Hagay Hacohen

US Assistant Secretary of State for Energy Resources Francis R. Fannon will travel to Israel and Egypt, arriving on Sunday and departing on November 20, the US State Department Spokesperson announced Saturday.

Fannon is scheduled to meet government officials and representatives from the private sector to discuss regional cooperation and energy security.

In September, Houston-based Noble Energy Inc., together with Israeli gas operator Delek Drilling and Egyptian partner East Gas, have reached agreements worth approximately $518 million to support the delivery of natural gas from the Leviathan and Tamar gas fields to Egypt.

The agreements represent a significant step toward fulfilling a $15 billion decade-long deal signed in February which will see Noble Energy and Delek Drilling supply 64 billion cubic meters of natural gas to Egypt from the gas fields, located off Israel.

EMG, Israeli Electric are withdrawing arbitration cases against Egypt - ENTERPRISE

Monday, 1 October 2018

EMG, IEC have begun withdrawing arbitration cases against Egypt: East Mediterranean Gas (EMG) and Israel Electric Corporation have officially begun proceedings to drop their international arbitration case against state energy companies EGPC and EGAS, according to Oil Ministry sources. The two cases would have seen Egypt pay a combined USD 1.988 mn in fines for failing to supply IEC with gas in 2012.

Key step in our energy hub transformation: The withdrawal of the claims are conditions of the USD 518 mn agreement Noble Energy and Delek — the operators of Israel’s Leviathan and Tamar gas fields — and their Egyptian partner East Gas signed last week. The transaction gives Nobel and Delek a 39% stake in EMG, paving the way for the gas field operators to export natural gas to Egypt under a USD 15 bn agreement signed in February with Alaa Arafa’s Dolphinus Holdings.

Advisers: Shahid Law Firm acted as sell-side legal counsel on the EMG transaction, while Alliance Law Firm had was on the buy-side.

Egypt receives final LNG shipment, marking end of gas imports: Tarek El-Molla - DAILY NEWS EGYPT

29 September 2018

Egypt received the final liquefied natural gas (LNG) shipment, after which the country will halt natural gas imports, Petroleum Minister Tarek El-Molla said on Saturday.

According to the Ministry of Petroleum, LNG imports cost the state about $280m monthly, to meet domestic market demands.

Moreover, it is estimated that around $3bn this fiscal year will be saved following the connection of the new gas explorations to the production cycle.

Gas pipeline deal reached with Egypt – CyBC - CYPRUS MAIL

AUGUST 6, 2018
Evie Andreou 

Nicosia has reached an agreement with Cairo on a pipeline to connect the Aphrodite gas field in block 12 to Egypt, it was reported on Monday.

According to state broadcaster CyBC, the inter-state agreement is expected to be signed in the autumn.

The two countries had signed in 2017 a preliminary agreement to transport natural gas from Cyprus to Egypt to be liquefied at Egypt’s LNG facilities and re-exported to Europe and other markets.

CyBC, citing diplomatic sources, said that the agreement has already been given the green light by the EU and it is being scrutinised for the final touches.

Cyprus demarcated its maritime border with Egypt in 2003. The Aphrodite gas field, discovered in December 2011 by Houston-based Noble Energy, is estimated to hold some 4.5 trillion cubic feet of gas.

Gas pipeline deal reached with Egypt – CyBC - CYPRUS MAIL

AUGUST 6TH, 2018
Evie Andreou

Nicosia has reached an agreement with Cairo on a pipeline to connect the Aphrodite gas field in block 12 to Egypt, it was reported on Monday.

According to state broadcaster CyBC, the inter-state agreement is expected to be signed in the autumn.

The two countries had signed in 2017 a preliminary agreement to transport natural gas from Cyprus to Egypt to be liquefied at Egypt’s LNG facilities and re-exported to Europe and other markets.

CyBC, citing diplomatic sources, said that the agreement has already been given the green light by the EU and it is being scrutinised for the final touches.

Cyprus demarcated its maritime border with Egypt in 2003. The Aphrodite gas field, discovered in December 2011 by Houston-based Noble Energy, is estimated to hold some 4.5 trillion cubic feet of gas.

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)

Natgas market regulator to officially begin issuing import permits - ENTERPRISE

Thursday, 5 July 2018

Natgas market deregulation gets in full swing as regulator to officially begin issuing import permits: The board of directors of the new natural gas market regulator approved that it begin issuing and revoking licenses for private sector natural gas industry players, according to an Oil Ministry statement. The regulator — established under the Natural Gas Act, which deregulated the market and opened it up to the private sector — will begin its work “in the coming period,” according to the statement. Natural gas companies are currently gathering the necessary paperwork to submit their requests for a license to distribute natural gas, ministry sources said, Al Shorouk reports.

Israel's Delek Drilling seeks shareholder approval for Egypt pipeline investment - REUTERS

JUNE 11, 2018 / 3:20 PM

Reporting by Ari Rabinovitch; Editing by Susan Fenton

JERUSALEM (Reuters) - Shareholders in Israel’s Delek Drilling will vote next month on whether to approve a $200 million investment that will allow the company to export gas to Egypt via a subsea pipeline.

Delek announced on Monday that it would hold a special shareholders’ meeting on July 1 to decide whether to go ahead with the investment in East Mediterranean Gas (EMG), which operates a pipeline to carry gas between Israel and Egypt’s Sinai Peninsula.

Delek and Texas-based Noble Energy are partners in the large Tamar and Leviathan natural gas fields off Israel’s coast and signed deals in February with Egyptian firm Dolphinus Holdings to sell $15 billion of gas.

Delek and Noble have been negotiating to buy the rights to use EMG’s pipeline, which was built years ago as part of a now-defunct Egyptian-Israeli natural gas deal but has been out of use.

Cyprus will press ahead with gas exploitation, says minister - CYPRUS MAIL

March 21,2018

Energy Minister Giorgos Lakkotrypis said on Wednesday that despite the geopolitical challenges and recent incidents in Cyprus Exclusive Economic Zone (EEZ), the government remained committed to exploiting hydrocarbon reserves in the Eastern Mediterranean.
in a speech at the Eastern Mediterranean gas conference in Nicosia, the minister said that despite the geopolitical challenges Cyprus and the region faces, the recent incidents regarding Cyprus’ efforts to drill Block 3 of its EEZ and Turkish provocations, the country would continue to work with countries in the region not only to advance Cyprus’ interests and the region as a whole.

He added that if Cyprus was able to conclude the sale of Aphrodite’s field gas to Egypt, liquefy it and then ship it to Europe it would be the first Eastern Mediterranean gas to reach the EU.

“That will be a significant milestone which the Republic of Cyprus is committed to taking all the way,” he said.

Concerning the development of Aphrodite gas field, the minister said that the Republic is currently in commercial talks with Egyptian customers and terminals in Egypt. He added that discussions between the Cypriot and Egyptian governments sought the necessary framework to enable the sale of Aphrodite block gas to one of the two liquefied natural gas plants in Egypt.

El Sisi, Shoukry talk energy cooperation, improving economic ties with Greek Foreign Minister - ENTERPRISE

Wednesday, 21 March 2018

President Abdel Fattah El Sisi and Foreign Minister Sameh Shoukry met with Greek Foreign Affairs Minister Nikos Kotzias in Cairo yesterday, according to an Ittihadiya statement. Talks extended to trilateral relations between Egypt, Greece, and Cyprus on East-Mediterranean gas, increased cooperation on economy, trade, and investment, as well as counter-terror and the peaceful resolution to regional disputes. Last month, Oil Minister Tarek El Molla had said that Egypt was in talks with Greece to establish a framework for further energy cooperation, after announcing that it was closing in on an LNG import agreement with Cyprus. The three countries also said last week they would be working on a USD 4 bn 2,000 MW subsea electricity interconnection project that is expected to become part of a larger network linking Europe and Africa.

Cyprus to Egypt gas pipeline deal to be signed: Petroleum Minister - EGYPT INDEPENDENT

President N. Anastasiades, President A.F. el-Sisi, PM A. Tsipras 

February 23, 2018 3:09 pm
Farah Tawfeek

Minister of Petroleum Tarek al-Mulla declared that before mid-2018, there will be a signing of an agreement with the European Union (EU) to build a Cyprus-to-Egypt gas pipeline, saying that the EU will be the main beneficiary of the energy produced.

During his participation in the ‘Petroleum Week’ conference in London, the minister announced that a preliminary agreement with Cyprus’s government has been signed to have a pipeline running from Cyprus to Egypt, and that further negotiations are underway between governments. Moreover, Egypt and Greece will be working closely in the fields of petroleum and gas through several agreements.

He also emphasized the close cooperation with Egypt, Jordan, and Iraq in the same field, announcing that Egypt has entered an agreement with Jordan and Iraq to transport crude oil and gas from Iraq, through Jordan, to Egypt.

Cyprus sees gas deal with Egypt as Cairo weighs Israeli supply - WORLD OIL / BLOOMBERG

FEB/21/2018
GEORGIOS GEORGIOU, PAUL TUGWELL, SALMA EL WARDANY AND TAREK EL-TABLAWY

NICOSIA, ATHENS and CAIRO (Bloomberg) -- Cyprus is nearing an agreement to sell natural gas to Egypt, marking the second potential supply deal in as many days with the North African country vying to position itself as a regional energy hub after the startup of the giant offshore Zohr field.

Cyprus would supply Egypt from Aphrodite field, which was discovered by Noble Energy Inc. and contains an estimated 4.5 Tcf of gas. Noble Energy, with Delek Drilling-LP, said Monday it plans to sell gas to Egypt’s Dolphinus Holdings Ltd. from Israel’s Tamar and Leviathan deposits. Egypt’s government still must approve the proposed 10-year deal for shipments from Israel, the Egyptian oil ministry said Tuesday in an emailed statement.

“Cyprus is close to selling natural gas to Egypt’s liquefied natural gas plants, and we could reach an agreement in the coming weeks,” Energy Minister Georgios Lakkotrypis said in a telephone interview from Nicosia. The Egyptian LNG plants of Idku and Damietta lie some 400 mi (645 km) south of Cyprus.