The partners in Israel’s Leviathan & Tamar offshore gas fields planned to sell $15 billion worth of natural gas to an Egyptian customer, Dolphinus Holdings, but last month 34% more gas was requested, now estimating the deal worth $20 billion.
By Reuters, Israel Hayom Staff
A deal that would transfer control of a natural gas pipeline between Israel and Egypt is expected to be closed in the next few days, the companies said on Sunday.
Texas-based Noble Energy, Israel’s Delek Drilling and Egyptian East Gas Co have partnered in a venture called EMED, which last year agreed to buy a 39% stake in the subsea EMG pipeline for $518 million that will carry Israeli gas exports to Egypt. Continue Reading »
The construction of a $7B, 2,000 km underwater pipeline connecting Israel’s gas fields to Cyprus, Greece and Italy is expected to be approved later this year by the 3 countries, but will also require European Commission approval.
By EYTAN HALON
The first of four giant barges transporting the Leviathan natural gas platform to Israel departed the Gulf of Mexico last week, the companies leading the project announced on Sunday, ahead of its September installation approximately 10 kilometers from Israel’s coast.
Five operational structures, the 38,000 ton topsides of the Leviathan platform, will make the approximately 11,500 kilometer cross-Atlantic journey, with the remaining barges due to set sail from Texas in the coming weeks. Continue Reading »
Israel’s Delek Group, Noble Energy are acquiring 40% of the Egypt-Israel gas pipeline with rights to operate it, enabling the Israeli companies to pump gas to Egypt as early as this year, assuming it will still be in demand.
By Lior Gutman
After several weeks of frantic negotiations, the Israeli drilling companies Delek Drilling LP, Noble Energy Inc., and the Egyptian East Gas Co. signed a deal to buy a 39% stake in the EMG pipeline to export natural gas to Egypt starting next year, the partners said on Thursday.
Israel’s Energy Minister Steinitz said the deal marked a ‘very important milestone’
Talks about a future Israeli-Egyptian gas deal were reported a few months ago by Calcalist. Continue Reading »
Egyptian President al-Sissi praised the $15 billion natural gas arrangement with an Israeli energy company that will facilitate Egypt’s move into a regional energy hub with the purchase of 64b m³ of gas to Egypt’s Dolphinus Holdings over 10 years.
By The Associated Press
The Egyptian president declared that his country “scored a goal” by signing a $15 billion deal with an Israeli company to supply natural gas that will help turn Egypt into a regional energy hub.President Abdel Fatah al-Sissi’s televised remarks were the first high-level comments on the deal that fueled controversy on social media.
The project “has a lot of advantages for us (Egyptians). Continue Reading »
Jordan has increased its economic ties to Israel by beginning to import natural gas, as part of its 2014 deal to purchase 2 billion cubic meters of natural gas.
An Israeli company said Thursday it has started exporting gas from an offshore field to Jordan, marking the country’s first ever exports of natural gas.
The exports to Jordan began in January, Delek Drilling — part of a consortium leading the development of Israel’s offshore gas reserves — recently told AFP.
There was no formal announcement at the time but it is the first time Israel has ever exported natural gas, a company spokeswoman said. Continue Reading »
The Delek energy group just signed a 15 year deal that will see the sale of Israel’s natural gas worth $10 billion to the Hashemite Kingdom of Jordan.
By The Associated Press
Israel’s Delek Group, one of the developers of the country’s biggest natural gas reservoir, says it has signed a deal to sell gas to neighboring Jordan.
Delek Drilling CEO Yossi Abu – Photo source: Ynet
The agreement, announced Monday, would provide 45 billion cubic meters (1.6 trillion cubic feet) of gas to Jordan over 15 years. Delek says revenues could amount to $10 billion.
Delek Drilling CEO Yossi Abu hailed the “historic” deal and said developers of the Leviathan reservoir would pursue similar agreements with others in the region, including Egypt, Turkey and the Palestinian Authority. Continue Reading »
After a 20 year hiatus, a second geological survey confirms presence of oil with estimated value between 1.2-1.8 billion shekels, on the Israeli side of the Dead Sea.
By Arutz Sheva Staff
Surveyors struck oil in Israel, with an oil deposit discovered near the Dead Sea.
Dead Sea – Photo: Kobi Finkler
On Sunday the Hatrurim consortium, named for the Hatrurim formation in the Dead Sea area, announced that a report from the Dunmore Consulting company had confirmed the presence of an oil reservoir in an area under license by Hatrurim.
A geological survey conducted at the Halamish drilling site, located within Hatrurim’s 94 square kilometer (36 square miles) license, estimated that there was between 7 and 11 million barrels of oil in the deposit, worth some 1.2 to 1.8 billion shekels ($316 – 474 million). Continue Reading »
Israel coffers took in NIS 744 million ($188 million) in 2014 royalties for offshore gas fields, a 39% increase over 2013, but far short from the NIS 3.2-3.4 billion expected in a few years.
Israel took in NIS 744 million ($188 million) in royalties for offshore gas fields – a 39% increase over the year before. That, however, is a drop in the bucket compared to the NIS 3.2-3.4 billion (about $750 million) expected by 2019, the Energy and Water Ministry said Sunday.
A natural gas rig west of Haifa, Israel. – Photo: Albatross Aerial Perspective/AP
The 2013 and 2014 royalties came mostly from the Tamar and Yam Thetis gas fields. Continue Reading »