“Bloomberg”: A new agreement between Egypt and Israel

Egypt – Egypt agreed to increase the quantities of natural gas imported from Israel by about 26% to reach 1.450 billion cubic feet per day during the first half of next year, instead of 1.15 billion cubic feet per day now.

According to a government official who spoke to Bloomberg, the quantities of Israeli gas supplied to Egypt have currently exceeded levels before the war on Gaza, as they rose during January by 15% on a monthly basis to record about 1.15 billion cubic feet per day, which will help the country increase its exports and secure… Part of hard currency.

Egypt relies on Israeli gas to meet part of its domestic demand, while exporting the surplus in the form of liquefied gas mainly to Europe, through liquefaction plants in Idku and Damietta with a production capacity of 2.1 billion cubic feet per day.

Egypt’s imports of Israeli gas fell sharply last October with the cessation of gas production operations from the Tamar field, following the outbreak of war in Gaza, to record about 350 million cubic feet per day, after exceeding 900 million before the field’s production stopped on October 8.
According to the official, the increase in imports will come to Egypt after the American “Chevron” company finishes increasing production in the “Tamar” gas field located off the coast of Israel by about 60% during the first half of next year to 1.6 billion cubic feet per day.

Egypt began importing gas from Israel for the first time in 2020, in a deal worth $15 billion between Noble Energy (which was acquired by Chevron in 2020) and Delek Drilling on the one hand, and the Egyptian Dolphinus Holding Company on the other. .

Source: Bloomberg

#Bloomberg #agreement #Egypt #Israel
2024-03-28 05:05:27

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