Egypt’s president says his country “scored a goal” by signing a billion deal with an Israeli company to supply natural gas that will help turn Egypt into a regional energy hub.
The deal is worth 15 billion and will help establish Egypt as a regional energy hub. As reported by Fox Business, the agreement signed Monday was between Delek Drilling and its U.S. partner, Noble Energy and covers 64 billion cubic meters of gas over a 10-year period. The project is expected to be in full swing next year.
The gas will be delivered from Israel’s Tamar gas field, which is already operational, and the larger “Leviathan” field, which is set to go online in late 2019. As the region continues to recover from recent sabotage from ISIS, there will likely be additional deals, and opportunities.
