Exploration & Production

Noble signs agreements to export Israeli gas to Egypt

Noble Energy has signed multiple agreements to support gas deliveries to Egypt from the Leviathan and Tamar fields offshore Israel.
By Staff reporter 27 September 2018 0 32699

Noble Energy has signed multiple agreements to support gas deliveries to Egypt from the Leviathan and Tamar fields offshore Israel, the company announced on Thursday.

Noble and its partners will acquire a 39% interest in East Mediterranean Gas (EMG), which owns the 90 km EMG pipeline that links the networks of Israel and Egypt.

Delek and Noble will each pay $185 million, while Egyptian East Gas Co. will pay $148 million.

EMG has agreed to drop its arbitration with Egypt as part of the deal.

Noble...