Israel to increase sale of gas to Egypt

Israeli gas exports to Egypt will gradually reach 7 billion cubic metres, according to Reuters news agency. Egyptian company Dolphinus Holdings reached a landmark deal last year with the Israeli companies operating the Israeli fields Leviathan and Tamar.

In October, the Israeli companies said they were increasing the amount of natural gas they plan to export to Egypt. One source in the Israeli energy industry estimated the value of gas was now $19.5 billion – $14 billion coming from Leviathan and $5.5 billion from Tamar.

Israel’s energy ministry gave its final approval for the start of production at the giant Leviathan field three days ago after a court lifted a temporary injunction granted over environmental concerns.

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The Egyptian petroleum ministry has not made any comment on the development.

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