Connect with us

Hi, what are you looking for?

Jewish Business News


Egypt seeks alternative to Tamar gas – report

“Interfax”: Egypt in talks with Norway’s Hoegh LNG to lease a floating unit.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.


Paralleling plans to import natural gas from the Tamar field, Egypt is moving ahead on a plan that might reduce the need for Israeli gas. “Interfax Natural Gas Daily” reports that that Egypt is in talks with Norway’s Hoegh LNG AS (OMX: HLNG) to lease the company’s latest floating storage regasification unit (FSRU) in the third quarter of 2014. The FSRU is under construction at Hyundai Heavy Industries Ltd. shipyards in South Korea, and will have a production capacity of 4-5 billion cubic meters (BCM) a year.

The pending deal between Egypt and Hoegh is for five years at a cost of $40 million “Interfax” says that Egypt will use the FSRU to import gas from Algeria.

Two weeks ago, the partners in Tamar –Noble Energy Inc. (NYSE: NBL),  Delek Group Ltd. (TASE: DLEKG), Isramco Negev 2 LP (TASE:ISRA.L), and Alon Natural Gas Exploration Ltd. (TASE: ALGS) – signed a memorandum of understanding for a long-term gas supply contract with Spain’s Union Fenosa SA (BMAD: UNF), the operator of Egypt’s liquefied natural gas (LNG) plant in Damietta, for the supply of 4.5 BCM of gas a year for a total value of $1.3 billion.

The partners in Leviathan – Noble Energy, Delek, and Ratio Oil Exploration (1992) LP (TASE:RATI.L) – are also in talks with BG Group plc (NYSE; LSE: BG), which operates Egypt’s other LNG plant at Ideko, for the supply of 7 BCM of gas a year.

Published by Globes [online], Israel business news – 



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.