Israeli natural gas company announces $15 billion export deal with Egypt

An Israeli energy company on Monday announced a $15 billion deal to supply natural gas to Egypt, in the largest export agreement to date for Israel's nascent natural gas industry.

Delek Drilling and its U.S. partner, Noble Energy, signed a deal to sell a total of 64 billion cubic meters of gas over a 10-year period to Egyptian company Dolphinus Holdings.

Yossi Abu, chief executive of Delek Drilling, called the deal "great news" for both countries.

He said he expects most of the gas to be used for Egypt's domestic market, but predicted it could pave the way for wider cooperation and help turn Egypt into an export hub for Israeli gas.

https://www.chron.com/business/article/Israeli-natural-gas-company-announces-15-billion-12625992.php