Israel-Egypt gas export deal shapes up
Practical steps have been taken that could eventually enable gas from Israel’s offshore to be piped to Egypt
Israel's Delek, the US-based firm Noble and Egypt's East Gas have established a company (Emed) to buy 39% of the 26in, 90km (56-mile) East Mediterranean Gas pipeline for $518m. This investment, combined with a transportation agreement, will provide the partners with the exclusive rights to use all the pipeline's capacity. Of the $518m, the Leviathan and Tamar offshore gasfield partners will each pay $125m, whilst Delek and Noble will each pay another $60m. Most significantly, the East Gas company, which also owns the pipeline from Aqaba in Jordan to el-Arish in Egypt, will invest $148m, which is a considerable amount for Egypt. This strategic partnership with a leading Egyptian infrastructur
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
