Dolphinus to Start Importing Gas from Israel in 2019
Ejypte oil&gas-Monday, 6th August 2018
The Egyptian company Dolphinus Holdings will start importing Israeli natural gas for re-export in the first quarter of 2019, sources in the Egyptian energy sector told Reuters on Sunday.
“Imports will start in small quantities first and will gradually increase to reach their climax in September 2019,” one of Reuter’s sources said without providing details on prices or quantities.
Dolphinus signed an agreement with the Israeli Delek Drilling and the its Texas-based partner Noble Energy to buy $15 billion worth of gas over 10 years.
Delek and Noble Energy, who are shareholders of Israel’s Tamar and Leviathan offshore gas fields, announced earlier this year that they will supply the private Dolphinus with around 64 billion cubic meters of gas over a decade without specifying the start date. Each field will provide half of the amount and the payment will be split.
Dolphinus has been waiting to receive approval from the newly founded Gas Regulatory Authority to start proceeding the deal. At the same time, Delek’s shareholders agreed in July to invest in the East Mediterranean Gas Company (EMG), in order to export gas to Egypt through EMG’s pipeline which links gas fields in Israel to Egyptian export terminals