Tag Archive for natural gas

Israeli companies to pump gas to Egypt in $518 million deal

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: “We scored a big goal” in $15B gas deal made with Israel

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 »

WATCH: Netanyahu announces $15B natural gas deal sold to Egypt

Gas operators Delek and Noble of Israel’s Tamar and Leviathan natural gas fields will supply Egypt with seven billion cubic meters of gas annually, in a deal worth an estimated $15 billion.

By MAX SCHINDLER

 

The operators of Israel’s Tamar and Leviathan natural gas fields have signed decade-long contracts to sell $15 billion worth of natural gas to Egypt, according to a statement from Delek Drilling on Monday.

Israel announces new agreement to export natural gas to Egypt, February 19, 2018./GPO – TRANSLATION: “I welcome the historic agreement now published on the export of Israeli gas to Egypt. This will bring billions into the coffers of the state, in favor of the education, health and welfare of Israeli citizens. Continue Reading »

Lebanon’s provocative drilling tender in Israeli waters accepted, advancing border tension

Beirut signs contract with multinational consortium to drill for oil & gas off its coast, including in Block 9 according to their maps, an area which Israel has long patrolled and defended as part of it’s territorial waters.

By Ben Ariel, Canada

 

Lebanon on Friday signed its first contract to drill for oil and gas off its coast with a consortium comprising energy giants Total, ENI and Novatek, including in a block disputed by Israel, AFP reported.

Israel says one of two blocks in the eastern Mediterranean where Lebanon wants to drill for oil belongs to it, and last week denounced any exploration by Beirut as “provocative”. Continue Reading »

Lebanon’s Defense Council orders army to stop Israel’s border wall construction

Lebanon’s military Council says if Israel continues construction of border wall on territory Lebanon believes to be theirs, it will be acknowledged as an act of aggression against its sovereignty.
– Israeli Minister Steinitz: ‘Israel seeking diplomatic solution to all border disputes.’

By Attila Somfalvi and Nir Cohen

 

Lebanon’s Higher Defense Council said Wednesday it has ordered the army to prevent Israel from building a border wall on Lebanese territory.

The council also announced that if Israel does build its border wall on what Beirut views as Lebanese territory, it would be considered an Israeli act of aggression.

“We grant the army forces with the political backing to act against any Israeli aggression on the border—on land and at sea,” the council said in a statement. Continue Reading »

Israel allocates $429 million in defense systems to protect natural-gas rigs

The weapons systems from Israel’s defense industries will be installed on four patrol ships purchased from Germany to protect the offshore natural gas rigs in Israel’s territorial waters
– Minister of Defense says decision will see billions [of shekels] poured into the state’s economy, supporting thousands of families.

By Yoav Zitun

 

The Defense Ministry’s Procurement and Production Directorate is set to purchase weapons systems from the Israeli defense industry to protect the offshore natural gas rigs in Israel’s territorial waters to the tune of NIS 1.5 billion, the ministry said Sunday.

The procurement deals will be finalized by the end of 2017 and include a variety of systems for interception, cyber warfare, control and command, communications, navigations, and more. Continue Reading »

3 EU countries work with Israel on world’s longest undersea gas pipeline

 

Feasibility studies had been completed but work on developing it would not begin for several years, so the 4 ministers agreed to meet every half-year to advance the new gas pipeline that will boost cooperation & boost supply.

By AFP

 

Italy, Israel, Greece and Cyprus pledged Monday to move ahead with the world’s longest undersea gas pipeline from the eastern Mediterranean to southern Europe, with support from the European Union.

If carried out as planned, the long-discussed $6.2 billion pipeline would take gas from Israel and Cyprus’s recently discovered offshore gas reserves to Europe and could help reduce the continent’s dependence on Russian energy at a time of ongoing tensions. Continue Reading »

Israel makes history as it becomes an energy exporter

 

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.

By i24NEWS

 

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 »

Turkish delegation visits Jerusalem to discuss joint Mediterranean gas pipeline

 

While delegations in Jerusalem progress in their discussions to construct a natural gas pipeline from Israel to Turkey and on to Europe, Israel’s Energy Ministry Director General Shaul Meridor is set to meet soon with Italian, Cypriot & Greek ministers for talks on a different pipeline project.

By Hezi Sternlicht

 

A delegation from the Turkish Energy Ministry is currently visiting Israel for talks about a joint gas pipeline that would pump gas from Israel to Turkey and Europe.

The project, which has been under consideration for some time, was also the focus of Energy Minister Yuval Steinitz’s visit to Turkey in October. Continue Reading »

Israel’s Energy Ministry opens Eastern Mediterranean for renewed gas exploration

 

By SHARON UDASIN

 

After a four-year freeze in offshore natural gas exploration, National Infrastructure, Energy and Water Minister Yuval Steintiz declared Israel’s Eastern Mediterranean open for business on Tuesday.

“A year and a half ago when I entered my position, the gas was stuck, the sea was closed and the sector was strangled,” Steinitz said, at a Jerusalem press conference that morning. “We are changing this picture.”

 Israel's National Infrastructure, Energy and Water Minister Yuval Steintiz speaks at a press conference - Video Screenshot

Israel’s National Infrastructure, Energy and Water Minister Yuval Steintiz speaks at a press conference in Jerusalem – Video Screenshot

Gas companies interested in exploring Israel’s waters have 24 license zones open to them, each spanning a maximum area of 400 square kilometers, ministry director-general Shaul Meridor explained. Continue Reading »

Turkey & Israel expand energy cooperation, strengthen ties

 

6 years after the souring of ties, natural gas is helping the two regional powers begin normalizing their relations, with Israel’s Minister of Energy, Yuval Steinitz saying, ‘The economic results should be to the benefit of the peoples of Turkey & Israel.’

By Reuters

 

Israel and Turkey agreed to deepen cooperation in the energy sector on Thursday, taking a further step towards normalizing ties with the first Israeli ministerial visit to Turkey since a breakdown six years ago.

Israel’s Minister of Energy, Yuval Steinitz and Erdogan meet in Turkey – Photo source: Ynet

Israeli Energy Minister Yuval Steinitz said he would welcome more involvement by Turkish firms in the Israeli energy sector, particularly in gas exploration, and said “detailed dialogue” between the two governments would begin in the coming months,

After meeting in Istanbul with his Turkish counterpart Berat Albayrak, who is President Tayyip Erdogan’s son-in-law, Steinitz said the two had discussed the possibility of building a natural gas pipeline from Israel to Turkey. Continue Reading »

Israel’s historic gas deal with Jordan completed, now the Cyprus, Greece pipeline

 

Israel’s Energy minister Steinitz is set to meet with his Greek and Cypriot counterparts in Athens on Wednesday to begin talks on laying pipeline for gas exports to Europe.

 

After the Leviathan gas reservoir partners signed a massive deal with Jordan, Israel is now looking to lay a pipeline to Cyprus and Greece, so Israeli gas can be exported there and to other European countries, National Infrastructure, Energy and Water Minister Yuval Steinitz said Tuesday.

Map showing planned pipelines running from Israel’s Levianthan natural gas rig into Jordan

Steinitz, speaking to reporters before the weekly cabinet meeting that was pushed from Sunday to Tuesday because Prime Minister Benjamin Netanyahu was in the US, related to Monday’s announcement of a massive gas deal with Jordan, saying it was an “historic” day for the country, because for the first time in its history it became an energy exporter. Continue Reading »

Israel energy consortium signs $10 billion gas deal with Jordan

 

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 »

Israel’s natural-gas potential creates buzz for int’l exploration firms

 

Before heading to Singapore Israel’s Energy Minister Steinitz holds a series of meetings in London with world’s leading firms ahead of natural gas exploration tender planned for November.

By Hezi Sternlicht

 

Israel is courting foreign investors ahead of a planned natural gas and oil explorations tender the Energy Ministry plans to issue in November, Israel Hayom learned Wednesday.

Israel’s economy strengthening with development of energy sector

 

Israel’s geopolitical decision of exploiting the gas discovery for diplomatic purposes improved the geostrategic status of the State of Israel in the US, Europe & the Mid-East.

 

Israel’s natural gas discoveries could be key in transforming diplomatic relations in the region while boosting its growing economy, a number of experts said on Monday at the Jerusalem Post Annual Conference in New York.

THE TAMAR gas field platform juts above the Mediterranean – Photo: MARC ISRAEL SELLEM

At the conference’s panel on the Israeli economy, International economic law scholar and practitioner Efraim Chalamish said Israel’s energy sector has the potential to really advance the “start-up nation” since it allows for large companies to be part of the economy, employing large workforces made up of people diverse backgrounds and skill levels. Continue Reading »