Egypt to Receive First Israeli Gas as Early as March - BLOOMBERG

October 8, 2018, 12:44 PM GMT+3Mirette Magdy

• Egyptian pipeline partner says to hit capacity in three years
• East Gas says its pipeline via Jordan can act as backup

Egypt will begin importing natural gas from Israel under a $15 billion deal as early as March if an undersea pipeline connecting the Mediterranean neighbors is found to be in good condition, moving the country closer to its goal of becoming an energy-exporting hub.

Mohammed Shoeib, chief executive officer of East Gas Co., a major Egyptian partner in the pipeline, said supplies would begin at 100 million standard cubic feet of gas per day in the first quarter of 2019 and gradually rise to a maximum of 700 million scf a day.

“We expect the pipeline is in good condition,” he told Bloomberg in an interview. “We aim to reach the pipeline’s full capacity or maximum flow rate within three years.”