Pipelines, Storage & Power

Israel’s Delek sets aside cash to export gas to Egypt

Delek’s shareholders have voted to prioritise the company’s plan to export Leviathan gas to Egypt via pipeline Delek’s shareholders have voted to prioritise the company’s plan to export Leviathan gas to Egypt via pipeline.
By James Gavin 3 July 2018 0 31574
A drillship in the Leviathan field. (Noble Energy)

Delek Drilling and Noble Energy have moved a step closer to meeting their ambition of exporting Israeli gas to Egypt by pipeline following a vote by Delek’s shareholders on Sunday.

Shareholders at the Israeli company’s AGM voted to prioritise investment in a pipeline linking gas fields in Israel to Egypt rather than receive dividends.

Delek, Noble’s partner in the development of the Leviathan and Tamar gas fields, will purchase a 37% stake in East Mediterranean Gas (EMG) with...