El-Molla met Israeli Minister of Energy Yuval Steinitz, where they agreed to connect Israel’s Leviathan gas field to the Egyptian LNG company’s facilities, via an offshore pipeline.
Both sides discussed ways to achieve energy independence for the Palestinians through several projects, such as:
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Developing the Gaza maritime gas field
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Establishing a power station in Jenin
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Supplying gas to Palestinian cities
El-Molla signed a MoU for Egypt to help develop the Gaza Marine field with the project’s 2 partners.
Gaza Marine sits about 30 km off the Palestinian enclave’s coast and is estimated to hold over 1 trillion cubic feet of natural gas.
During his visit, El Molla met with Israel’s PM Benjamin Netanyahu.
The officials:
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Praised the bilateral cooperation in the field of energy which contributes to supporting energy security and diversification
- They added that the EMGF also helps in the development of a regional gas market
In 2018, two 10-year agreements worth $15 billion in Israeli gas exports to Egypt were signed between Delek Drilling, Noble Energy, and the Egyptian company Dolphinus Holdings.
The agreements were for the supply of 64 bcm of gas to Egypt, which was later amended to 85.3 bcm.
Egypt aims to transform itself into a regional gas hub, through the exploitation of its LNG plants in Idku and Damietta, through importing gas from Israel and Cyprus and re-exporting them to other markets.
Both Cyprus and Israel need Egypt, as it already has the entire necessary infrastructure in place.
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