$15 BILLION WORTH OF ISRAELI NATURAL GAS TO BE SOLD TO EGYPT

[DavidSling]

BY MAX SCHINDLER

FEBRUARY 19, 2018 15:00

Gas operators 'Delek Drilling' and 'Noble Energy' announced on Monday that it has signed agreements with Egyptian Company 'Dolphin Energy' worth an estimated $15 billion.

Israel HAS become the sole state in the region with proven natural gas reserves whose magnitude significantly outpaces the needs of the local market. (photo credit: Courtesy)

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.

Gas operators 'Delek Drilling' and 'Noble Energy' announced on Monday that it has signed two agreements with Egyptian Company 'Dolphin Energy' worth an estimated $15 billion.

Delek and Noble will supply Egypt with seven billion cubic meters of gas annually. Half of the gas will come from Tamar reservoir – already up and running – and half will come from Leviathan – currently under development, with plans to being operations next year.

To transfer the gas, the companies are looking at various pipelines, including the East Mediterranean Gas pipeline – which runs parallel to the Gazan shore – and the Pan Arabian pipeline via Jordan. Delek and Noble plan on negotiating with EMG for use of that pipeline.

Some 64 billion cubic meters of gas in total could be exported.

That comes in addition to agreements signed in 2016 to supply neighboring Jordan with gas the Leviathan field, in a contract with the Jordanian utility NEPCO

http://www.jpost.com/Israel-News/Is...l-export-gas-worth-15-billion-to-Egypt-543025

 

[The SC]

Most likely to be liquified and resold..since Egypt has enough gas for itself and will become an exporter in 2019..

 

[Crocodile]

Most likely to be liquified and resold..since Egypt has enough gas for itself and will become an exporter in 2019..

Seems like win-win for everyone involved. Cyprus and lebanon also seem eager to join the party. Cheers

 

[Yongpeng Sun-Tastaufen]

Egypt and Jordan are the only Arab countries that recognize Israel. Good deal for both.

 

[Crocodile]

Shell to Mull Buying Israeli, Cyprus Gas for Egypt Plant

https://www.bloomberg.com/news/arti...ull-buying-israeli-cyprus-gas-for-egypt-plant

 

[HannibalBarca]

Shell to Mull Buying Israeli, Cyprus Gas for Egypt Plant

https://www.bloomberg.com/news/arti...ull-buying-israeli-cyprus-gas-for-egypt-plant

This gas Hub dream/pipeline among the tri-party...would stay a dream with Turkey involvement...
Cyprus is the key to make the area... a true international hub... with key roads to Europe...
Without it... they gonna stay second rate "exporters"

 

[The SC]

Seems like win-win for everyone involved. Cyprus and lebanon also seem eager to join the party. Cheers

The news relates to the Egyptian government's plan to convert Egypt to the Middle East Energy Center by importing raw gas from Israel, Cyprus and Greece, at the Egyptian port stations which have no parallel in these countries.
Then re-export it to Europe.. Of course, all this is done through private companies away from the funds of the Egyptian state..

Note first that the importing Egyptian company is Dolphin.. The company is mainly a multi national company that manages gas contracts with Qatar for Oman and the UAE..
Second, the company has established a partnership branch in Egypt and the work of the company is the basic purchase of raw gas to treat it and re-export it, as does the Dolphin Emirates with Qatari gas.. it was mentioned in previous reports that the laws have changed in Egypt to give private companies international gas trade rights..
Gas Import by Dolphin Group Holding in Egypt, which is an Emirates international company will be mainly liquefied by Egyptian stations and re-exported to Europe or anywhere else..

 

[HannibalBarca]

The news relates to the Egyptian government's plan to convert Egypt to the Middle East Energy Center by importing raw gas from Israel, Cyprus and Greece, at the Egyptian port stations which have no parallel in these countries.
Then re-export it to Europe.. Of course, all this is done through private companies away from the funds of the Egyptian state..

Such contracts are only possible with Egypt gov green light...

 

[Natan]

Would it go well without "OUTRAGE!!!" protests in Egypt?

 

[Yongpeng Sun-Tastaufen]

Would it go well without "OUTRAGE!!!" protests in Egypt?

Egypt and Jordan are the only Arab countries that recognize Israel.

 

[KapitaanAli]

Would it go well without "OUTRAGE!!!" protests in Egypt?

Egyptians don't care. There'll be some excuses on forums and that's about it.

Lebanon is a different matter.

 

[kingQamaR]

it now appears nearly all the Arab states have some sort of a recognition or a relationship with Israel in some way. Either In trade-deal or in intelligence sharing partnership

And in mean time 1000s miles away in U.N. New York , Pakistan alone voice in a corner fighting with Israel over its disputes with Arabs. I know it’s not that simplistic but there’s more to it . But surely Pakistan should now be looking after its own interest to ?

 

[The SC]

The contract is already signed.. the Egyptian public won't protest it, first, since it is a private venture.. second because Egypt will make money off it buy using its liquefying stations..third, everyone wins.. Usrael makes money selling its raw gas, the Dolphin company will make money re-exporting it..and the Egyptian state or whomever owns the treatment stations will also make money..

Egypt is really doing a favor to Usrael, because otherwise it could have refused this deal.. and it would have been very harsh on Usrael who wouldn't be able to export it.. and lose all its investments in the gas fields....but Egypt looks for its interests too and the deal will be beneficial..

Netanyahu said that "this day is a day of celebration for Israel, I welcome this historic agreement announced today, on the export of Israeli gas to Egypt"

The contract is $15 billion spread on 10 years..that is $1.5 billion a year for raw gas..liquefying it and reselling it, might make a $1.5 billion/year in profits..or $15 billion on the same period of time.. that lives the Egyptian company and the Egyptian state with a $15 billion in profits to split between them..

Since Natural gas import prices revolve around $2 (Dollars per Thousand Cubic Feet)..and the export prices of the liquefied natural gas revolve around $4..

Natural Gas Liquids (NGLs) vs LPG vs LNG
http://www.elgas.com.au/blog/1789-natural-gas-liquids-ngls-vs-lpg-vs-lng-differences-uses

 

[zartosht]

Shell to Mull Buying Israeli, Cyprus Gas for Egypt Plant

https://www.bloomberg.com/news/arti...ull-buying-israeli-cyprus-gas-for-egypt-plant

Egypt helping the Zionist to sell stolen Palestinian Gas. and fund the Zionist entity to tune of 15 billion dollars a year might be a "win-win" for some elite pockets in Egypt and the Zionist entity..

but will surely be a loss for Palestinians and virtually all of humanity.

good job Egypt.

 

[DavidSling]

Egypt helping the Zionist to sell stolen Palestinian Gas. and fund the Zionist entity to tune of 15 billion dollars a year might be a "win-win" for some elite pockets in Egypt and the Zionist entity..

but will surely be a loss for Palestinians and virtually all of humanity.

good job Egypt.