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Egypt signs 15 billion deal with Israeli gas company

Egypt signs 15 billion deal with Israeli gas company

DAMASCUS, SYRIA (05:55 PM) – The Israeli gas company Delek Drilling announced on Monday that it had reached a major deal with Egypt regarding the export of Israeli gas.

The deal, reportedly worth 15 billion USD, was signed between Delek Drilling and its US partner Noble Energy Inc. one side, and the Egyptian company Dolphinus Holdings Ltd. Under the deal, Delek Drilling is set to supply the Egyptian company with 64 billion cubic meters of natural gas.

Israeli Prime Minister Benjamin Netanyahu has praised the deal, stating it would massively benefit Israel.

“I welcome the historic agreement that was announced on the export of Israeli gas to Egypt. This will put billions into the state treasury to benefit the education, health and social welfare of Israel’s citizens,” Netanyahu said.

Israeli Energy Minister Yuval Steinitz also expressed joy about the deal, noting: “This is the first time since the signing of the peace treaties in the Middle East that major export deals have been signed between the countries.”

The Egyptian regime of President Abdel Fattah el-Sisi, while regularly criticising Israeli policies regarding Palestine, is notable for its generally cordial relations with Tel Aviv.

Apsny News English


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