Mubasher TV
Contact Us Advertising   العربية

Egypt, Israel ink $15bn gas export deal

Egypt, Israel ink $15bn gas export deal
Israel’s Delek has announced two 10-year deals worth a combined $15 billion to export gas to Egypt

Cairo – Mubasher: Israel’s Delek Group has announced two 10-year deals worth a combined $15 billion to sell natural gas to an Egyptian private company, Dolphinus Holdings, according to Reuters.

Commenting on the deals, Israeli Prime Minister Benjamin Netanyahu said in a video posted to Twitter: “I welcome the historic agreement that was announced on the export of Israeli gas to Egypt.”

On Monday, the Israeli energy conglomerate said that the partners in Israel’s Tamar and Leviathan offshore gas fields have signed 10-year agreements to export around 64 billion cubic metres of gas to Egypt’s Dolphinus Holdings.

“This will put billions into the state treasury to benefit the education, health and social welfare of Israel's citizens,” Netanyahu said, adding: “This is a joyous day.”

He indicated that many have doubted the gas scheme, stressing that the deal will strengthen Israel’s security, economy, and regional relationships, and most importantly, it will strengthen the citizens of Israel.