Thursday, February 25, 2021

Israel and Egypt clap and become big players in liquefied natural gas market: Offshore pipeline to link Leviathan to Sinai – News source


Israel and Egypt agreed on Sunday to build a new pipeline between the Leviathan gas field off the eastern Mediterranean and Egypt to increase liquefied natural gas supplies to Europe, Israeli sources told AFP taken over by agerpres.

The agreement was announced during a visit to Jerusalem by Egyptian Oil and Mining Minister Tarek El-Molla, who met with Israeli Prime Minister Benjamin Netanyahu, Foreign Minister Gabi Ashkenazi and his counterpart Yuval Steinitz. .

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The meetings are aimed at “strengthening cooperation between our countries on energy and especially on gas,” the Egyptian minister said in a joint statement.

Ministers Molla and Steinitz have agreed to build an offshore gas pipeline connecting Leviathan gas fields to Egypt’s liquefaction facilities, “Israeli sources familiar with the talks told AFP.

The aim of the project is to “increase gas exports to Europe from liquefaction plants in Egypt and thus meet the growing demand for natural gas from Europe,” the same sources said.

After a decade of work and billions invested, from the Leviathan gas field, “the largest energy project in the history of Israel”, the first extractions were carried out in December 2019, Israel’s ambition being to become a regional energy power.

Shortly after production was launched, Egypt announced the first deliveries of Israeli gas through the EMG submarine pipeline linking the Israeli city of Ashkelon to El-Arish in Sinai, Egypt.

Discovered in 2010, the Leviathan field, located 130 km off the northern city of Haifa, contains exploitable resources estimated at about 605 billion cubic meters of natural gas, according to the Israeli-American consortium working on the project.

In addition to gas supplies to Egypt, Israel is participating with Greece and Cyprus in the Eastmed Gas Pipeline project, which aims to connect Israeli offshore gas fields to Europe.

The project aims to turn these three countries into key links in Europe’s energy supply chain, while demonstrating their determination to Turkey, which in turn is interested in the region’s gas fields.





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