The price for the gas will fluctuate due to market conditions, he said.
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Israeli Firm to Buy Natural Gas from Egypt
Israeli oil and gas company Dorad Energy said yesterday it had signed a deal
Israeli Dorad Energy said yesterday it had signed a deal worth up to $2 billion to buy natural gas from Egypt.
A Dorad spokesman said the contract is for 15 to 20 years for the supply of as much as 1.2bn cubic metres a year of natural gas starting in 2008 and includes a number of options.
The price for the gas will fluctuate due to market conditions, he said.
The gas will be transported through a pipeline - to be completed in 2008 - from the northern Sinai to the coastal city of Ashkelon, where Dorad is building Israel's first private power plant, which will begin operating in 2010.
The price for the gas will fluctuate due to market conditions, he said.
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