Italian gas grid operator Snam appears to be on a spending spree for Mediterranean pipeline stakes. This week saw it not only agree to pay $436mn to compatriot Eni to take stakes in Tunisia and subsea sections of the pipeline linking Algeria and Italy (MEES, 3 December), it is also stumping up $50mn for Thai state firm PTT’s 25% of the EMG pipeline linking Israel’s Ashkelon with Egypt’s Arish (see map, MEES, 3 December). Snam labels the 90km offshore link the “Peace Gas Pipeline.”
Current capacity is 7bcm/y (680mn cfd) but Snam says that is “expected to increase further.” The pipeline transports approximately 450mn cfd of gas to Egypt from Israel’s two producing gas fields, 22.7tcf Leviathan and 10.5tcf Tamar (MEES, 26 November). (CONTINUED - 267 WORDS)
