Israel set to export natural gas to Egypt for first time
“Approving exports to Egypt … is the first sign of energy cooperation that will develop in the coming years with regional powers, like Egypt, Jordan, Greece, and Turkey, and with European nations as well,” Energy Minister Yuval Steinitz says.
National Infrastructure, Energy and Water Minister Yuval Steinitz on Wednesday approved for the first time the export of natural gas from Israel to Egypt.
The approval was issued after the ministry’s Petroleum Commissioner and Natural Resources Administration Director Yossi Wurzburger consulted with Prime Minister Benjamin Netanyahu and Steinitz, asking them to greenlight the gas export from the Tamar offshore reservoir to Dolphinus Holdings in Egypt. The move is expected to significantly strengthen the economic ties between the two countries.
As part of the deal, over the next seven years Israel will export 5 billion cubic meters of gas. The total value of the deal is NIS 5 billion ($1.3 billion).
The decision to export the gas, it should be noted, was made in accordance with Government Decision No. 442 from June 2103 (the Tzemach Committee), which allocated 20 billion cubic meters for export to neighboring countries.
“Approving exports to Egypt, in accordance with the government’s decision, is the first sign of energy cooperation that will develop in the coming years with regional
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