{"id":28642,"date":"2019-10-11T08:43:50","date_gmt":"2019-10-11T08:43:50","guid":{"rendered":"https:\/\/v2.ecomnewsmed.com.ecn-01.ovea.com\/2019\/10\/11\/israel-plans-to-increase-natural-gas-exports-to-egypt\/"},"modified":"2020-08-11T11:35:55","modified_gmt":"2020-08-11T09:35:55","slug":"israel-plans-to-increase-natural-gas-exports-to-egypt","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2019\/10\/11\/israel-plans-to-increase-natural-gas-exports-to-egypt\/","title":{"rendered":"Israel plans to increase natural gas exports to Egypt"},"content":"\nLast year, Partners in Israel\u2019s Tamar and Leviathan offshore gas agreed to sell an amount of $15 billion in natural gas to Egypt. It was the most significant deal called by Israeli officials since the two neighbors made peace in 1979.\u00a0\nThe amended agreement calls for a 34 % increase in exports to about 85 billion cubic meters (bcm), up from the 64 bcm under the\u00a0historical agreement. The value of gas is now estimated\u00a0to be $19.5 billion: $14 billion from Leviathan and $5.5 billion coming from Tamar, said one source in the Israeli energy industry. \nThe approval of the business concentration committee will be conditioned on the price of exported gas, which should be equal or higher than its price in Israel.\u00a0\nThe leading partners in Leviathan field are Israel\u2019s Delek Drilling, Texas-based Noble Energy and Ratio Oil. Tamar is owned by\u00a0a US-Israeli consortium including\u00a0Isramco Negev, Noble Energy, Delek Drilling and Tamar Petroleum. The Israeli companies announced in a joint statement that in over 15 years, an amount of 60 bcm of natural gas will be sold from Israel\u2019s Leviathan. While exports will be reduced over the same period, from 32 bcm to 25.3 bcm in the Tamar field.\nEgypt aims to turn into a regional gas hub by 2030\nThis gas agreement between Israel\u00a0and Egypt will take effect when the majority of regulatory approvals are in place. In fact, the exports from Leviathan will begin on January 1st, 2020, and continue through 2034. However, gas exports from Tamar will start from 30 June 2020 to 31 December 2034. Under the amended deal, Leviathan will ship 2.1 bcm in the first half of 2020 and 3.6 bcm in the second half of the same year. \nThe Israel&#8217;s\u00a0gas exports\u00a0to Egypt\u00a0will rise in each of the next two years to 4.6 bcm and then to 6.7 bcm a year after.\nEgypt aims, under the terms of this agreement, to turn into a regional gas hub through importing gas from Israel and re-exporting it to other markets. \nFor its part, Israel needs Egypt, as it has already all the necessary infrastructure in place. Mr. Yossi Abu CEO of Delek Drilling said: \u201cThis transaction will open the door for further investments in the regional energy market, providing cheaper and cleaner energy to the citizens of the region.\u201d\n","author":42,"featured_media":25954,"comment_status":"open","ping_status":"open","template":"","tags":[5754,5764,5761,5763,5751,5756,5753,2961,5750,5759,5762],"location":[1021],"class_list":["post-28642","news","type-news","status-publish","has-post-thumbnail","hentry","tag-business","tag-communities","tag-decision-makers","tag-direct-broadcasting","tag-economy","tag-employment","tag-entrepriseslife","tag-institutions","tag-news","tag-politics","tag-trending","location-israel"],"short_url":"","have_related_news":null,"chapo":"Israel confirmed that it would significantly increase its planned natural gas exports to Egypt under a new agreement, announced by Israeli energy companies on Wednesday.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/maroc-sdx-pipeline-gaz-550x360.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/maroc-sdx-pipeline-gaz-550x360.jpg 550w","sizes":"550px","alt":"Israel plans to increase natural gas exports to Egypt","width":550,"height":360,"ratio":0.67,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/maroc-sdx-pipeline-gaz.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/maroc-sdx-pipeline-gaz.jpg 1170w","sizes":"1170px","alt":"Israel plans to increase natural gas exports to Egypt","width":1170,"height":658,"ratio":0.67,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Israel plans to increase natural gas exports to Egypt - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"Last year, Partners in Israel\u2019s Tamar and Leviathan offshore gas agreed to sell an amount of $15 billion in natural gas to Egypt. 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