Connect with us

Hi, what are you looking for?

Jewish Business News


Reversing Directions: Multi-Billion Dollar Deal Brewing for Israeli Gas Going to Egypt


Delek Group Ltd. (TASE: DLEKG) and Noble Energy Inc. (NYSE: NBL) are in talks over a contract worth billions of dollars of natural gas, which would be sold to the Egyptian market, sources inform “Globes.”

The gas would be supplied from both Israel’s offshore Leviathan field and Cyprus’s Block 12 (Aphrodite). Delek recently reported that the estimated amount of gas in the Cypriot field had been revised upwards from 4.1 TCF to 4.5 TCF.

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.

Meanwhile, Egyptian Petroleum Minister Sherif Ismail has paid an official visit to Cyprus where he met with Energy Minister Yiorgos Lakkotrypis. Ismail said, “We are accelerating talks with the Cypriot government in order to import gas from it for the domestic market and liquefying facilities. Egypt can take in everything that Cyprus can export to it.”

Noble Energy and Delek energy exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L) are partners in both Leviathan and Block 12.

This would not be Noble and Delek’s first deal with Egypt. As Tamar partners they have signed a Memorandum of Understanding (MOU) to export 7 BCM annually of natural gas to the liquefying plant of Spanish company Union Fenosa at Damietta. In addition, the Leviathan partners are in advanced talks with British Gas (BG) to export 7 BCM annually to their liquefying plant in Sinai.

The Tamar partners are also in advanced talks with Dolphinus to immediately supply gas for Egyptian industry by using the pipeline set up by EMG, which formerly imported gas to Israel from Egypt.

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.