EMED, a consortium of US firm Noble Energy, Israel’s Delek Group and ‘East Gas Company’, an affiliate of Egyptian state firm Egas, have agreed to pay $518mn for a 39% controlling stake in the East Mediterranean Gas (EMG) pipeline connecting Ashkelon on the Israeli coast with the Egyptian port of Arish.
EMED is to “ensure operational control of the pipeline and continuous flow of gas” for the duration of a 36bcm, $7.5bn gas deal over 15 years to supply private Egyptian firm Dolphinus with gas from Noble and Delek’s 22tcf Leviathan field which is due to start-up at the end of 2019 (MEES, 23 February). (CONTINUED - 865 WORDS)
