Cairo – Mubasher: Shareholders in the Israel-based Delek Drilling will meet next July to vote on whether to invest $200 million to buy the rights of using a pipeline operated by East Mediterranean Gas (EMG) that carried gas between Israel and Egypt’s Sinai Peninsula until 2012.
The Israeli company added in a statement to the Tel Aviv Stock Exchange it is in talks over holding a stake in EMG, London-based news agency Reuters reported.
Using the pipeline of EMG will allow US Noble Energy and Delek to move forward regarding the recently signed 10-year agreements to export Israeli natural gas from Tamar and Leviathan offshore gas fields to Egypt through Dolphinus Holdings at a value of $15 billion.
Last February, Delek Group had announced two 10-year deals worth a combined $15 billion to sell around 64 billion cubic metres of gas to an Egyptian private company, Dolphinus Holdings.
President Abdel Fattah El-Sisi previously said that the Egyptian government hasn't been a part of the signed deal by an Egyptian private company to import natural gas from Israel.
