(Reuters) - Egypt began importing gas from Israel’s largest offshore gas field, Leviathan, on Wednesday, a step Cairo hopes will help it become a regional energy hub.
Rapid growth in Egypt’s natural gas supplies, boosted by the discovery of the Mediterranean’s largest field, turned it from a net importer to exporter in late 2018.
ISRAEL DEAL
Egypt’s Dolphinus Holdings signed deals with partners in Israeli gas fields to buy an estimated $19.5 billion of gas.
Partners in Israeli fields Leviathan and Tamar will supply Egypt with 85.3 billion cubic metres (bcm) of gas over 15 years.
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.
It is unclear how much of the gas imported from Israel will be re-exported.
