The New Arab Logo

Breaking News
Israel, Egypt agree to build new gas pipeline Open in fullscreen

The New Arab Staff & Agencies

Israel, Egypt agree to build new gas pipeline

Israel began pumping gas from Leviathan in December 2019 (Getty)

Date of publication: 21 February, 2021

Share this page:
  • 0

  • twitter
Israel and Egypt's energy ministers agreed to build a gas pipeline from the offshore eastern Mediterranean Leviathan field to Egypt, aimed at boosting exports to Europe, an Israeli source said.

Israel and Egypt's energy ministers agreed Sunday to build a gas pipeline from the offshore eastern Mediterranean Leviathan field to Egypt, aimed at boosting exports to Europe, an Israeli source said.

Yuval Steinitz and his Egyptian counterpart Tarek El Molla "agreed on the construction of offshore gas pipeline from the Leviathan gas field to the liquefaction facilities in Egypt," the official said, asking not to be named.

The goal was "to increase the gas exports to Europe through the liquefaction facilities in Egypt, in light of the growing demand in Europe for natural gas," he added.

The deal was announced as Molla visited Israel, where he also met Prime Minister Benjamin Netanyahu and Foreign Minister Gabi Ashkenazi as well as Steinitz. 

The energy ministers and their teams met "in order to enlarge and to increase the cooperation in energy," Molla said in a video released by Steinitz's office.

Leviathan, discovered 130 kilometres (81 miles) west of the Mediterranean port city Haifa in 2010, is estimated to hold 535 billion cubic metres (18.9 trillion cubic feet) of natural gas, along with 34.1 million barrels of condensate.

US-based Noble and Israel's Delek, the consortium leading the development of the Leviathan and the smaller Tamar field, struck a $15 billion 10-year deal last year with Egypt's Dolphinus to supply 64 billion cubic metres (2.26 trillion cubic feet).

Israel began pumping gas from Leviathan in December 2019 and exporting to Egypt the following month.

Follow us on FacebookTwitter and Instagram to stay connected

 


The New ArabComments

Most Popular

Most Popular

    Read More