Egypt will begin importing natural gas from Israel by mid-January, a senior industry source said on Dec. 22.
Israeli gas exports to Egypt will gradually reach 7 billion cubic meters (Bcf), the source said on condition of anonymity.
Egyptian company Dolphinus Holdings reached a landmark deal last year with the Israeli companies operating the Israeli fields Leviathan and Tamar.
In October, the Israeli companies said they were increasing the amount of natural gas they plan to export to Egypt. One source in the Israeli energy industry estimated the value of gas was now $19.5 billion to $14 billion coming from Leviathan and $5.5 billion from Tamar.
Israel's energy ministry gave its final approval for the start of production at the giant Leviathan field three days ago after a court lifted a temporary injunction granted over environmental concerns.
A spokesman for Egypt's petroleum ministry said he could not provide any information on the matter.
Recommended Reading
Wayangankar: Golden Era for US Natural Gas Storage – Version 2.0
2024-04-19 - While the current resurgence in gas storage is reminiscent of the 2000s —an era that saw ~400 Bcf of storage capacity additions — the market drivers providing the tailwinds today are drastically different from that cycle.
Biden Administration Criticized for Limits to Arctic Oil, Gas Drilling
2024-04-19 - The Bureau of Land Management is limiting new oil and gas leasing in the Arctic and also shut down a road proposal for industrial mining purposes.
PHX Minerals’ Borrowing Base Reaffirmed
2024-04-19 - PHX Minerals said the company’s credit facility was extended through Sept. 1, 2028.
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-19 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
Exclusive: The Politics, Realities and Benefits of Natural Gas
2024-04-19 - Replacing just 5% of coal-fired power plants with U.S. LNG — even at average methane and greenhouse-gas emissions intensity — could reduce energy sector emissions by 30% globally, says Chris Treanor, PAGE Coalition executive director.