Egypt to take Tamar gas

18 March 2015, News Wires – Noble Energy and its partners in the Tamar gas field off Israel have inked a deal to sell natural gas to Egyptian firms, according to a report.

offshore-oil-rig-Newfoundland-Labrador-Statoil-Canada-Bay-du-Nord-light-sweet-crude-API34-Husky-Energy-Calgary-Norway-EDIWeeklyThe US independent, which operates the Mediterranean gas field, and its three Israeli partners struck the deal with Dolphinus Holdings, a group of private Egyptian companies, Reuters reported.

The seven-year deal will see at least 5 billion cubic metres of gas delivered to Egypt in the first three years via pipeline.

Noble is joined at Tamar by Delek Drilling, Avner Oil and Isramco Negev.

Reports in early February indicated a delegation from Noble was in Egypt for talks with the state gas company about possible gas imports, with Tamar the likely exporting field.

Egypt became the first Arab country to sign a peace treaty with Israel in 1979, following three decades of intermittent conflict since Israel’s creation in 1948.

While many Egyptians still view Israel with suspicion, relations have improved since the army toppled President Mohamed Mursi, an Islamist, in 2013 after mass protests against his rule.


– Reuters

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