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Egypt explores gas cooperation with Palestine, Israel under EMGF scheme

The visit, during which Egypt´s Energy Minister visited Palestinian officials, also allowed Egypt to present itself as an invaluable mediator between Israel and the Palestinians

Egypt explores gas cooperation with Palestine, Israel under EMGF scheme

Jerusalem/Ramallah, February 24 - Neftegaz.RU. Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla headed to Palestina and Israel, in a visit that aims to support the goals and efforts of the Eastern Mediterranean Gas Forum (EMGF).

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:
  • Developing the Gaza maritime gas field
  • Establishing a power station in Jenin
  • Supplying gas to Palestinian cities
The Egyptian Minister hold discussions with Mohammad Mustafa, Senior Adviser to the Palestinian President on economic affairs.
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:
  • 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
The EMGF members are Cyprus, Egypt, Greece, Israel, Italy, Jordan, and the Palestinian Authority. France has applied to join the EMG, with the US and EU requesting observer status.

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.

To read the news in Russian.

Source : Neftegaz.RU


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