{"id":593619,"date":"2019-10-03T04:04:00","date_gmt":"2019-10-03T04:04:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/israel-to-boost-gas-supply-to-egypt-by-34-after-changes-to-landmark-agreement\/"},"modified":"2019-10-03T04:04:00","modified_gmt":"2019-10-03T04:04:00","slug":"israel-to-boost-gas-supply-to-egypt-by-34-after-changes-to-landmark-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/israel-to-boost-gas-supply-to-egypt-by-34-after-changes-to-landmark-agreement\/","title":{"rendered":"Israel to boost gas supply to Egypt by 34% after changes to landmark agreement"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <b>Israel to boost gas supply to Egypt: <\/b>Dolphinus Holdings and the operators of Israel\u2019s offshore natural gas fields Delek Drilling and Noble Energy have agreed to increase the supply of natural gas to Egypt by 34% to 85.3 bn cubic meters (bcm) under amendments to <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/20\/dolphinus-reportedly-signs-usd-15-bn-natural-gas-agreement-with-israel\/\">the landmark 2018 agreement<\/a>, both <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-10-02\/israel-boosts-supply-in-landmark-natural-gas-deal-with-egypt\">Bloomberg<\/a> and <a href=\"https:\/\/www.reuters.com\/article\/us-israel-egypt-natgas\/israel-to-increase-gas-exports-to-egypt-companies-say-idUSKBN1WH0I6\">Reuters<\/a> reported, citing an Israeli bourse statement.<\/p>\n<p><b>What\u2019s new?<\/b> The value of the agreement is now USD 19.5 bn, up from USD 15 bn when the parties signed the original pact in February 2018. Exports from the Leviathan field will double to 60 bcm over 15 years and shipments from the Tamar field will fall to 25.3 bcm from 32 bcm. <b>Gas shipments will begin flowing on 1 January 2020, through to 2034.<\/b> The first three years will see a total of 2.1 bcm sold annually, before growing to 6.7 bcm a year after that. Oil Minister Tarek El Molla <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/11\/israeli-gas-will-arrive-in-egypt-before-the-end-of-the-year-el-molla\/\">previously said<\/a> the first shipment is on track to arrive by the end of the year.<\/p>\n<p><b>The increased gas supply is not for export:<\/b> The extra gas is going to prove useful over the coming two decades, in which time Egypt\u2019s gas demand is expected to rise some 30%, with a supply shortage occurring in just five years, Bloomberg said, citing Wood Mackenzie research. The initial agreement had widely been seen as a way for Egypt to position itself as the East Mediterranean\u2019s export hub, capable of shipping large quantities of the region\u2019s LNG to Europe.<\/p>\n<p><b>EMG pipeline ownership transfer this month: <\/b>Delek, Noble, and Egypt\u2019s East Gas have made 70% of a USD 520 mn payment to acquire a controlling stake in subsea Ashkelon-El Arish pipeline operator East Mediterranean Gas (EMG) through their joint venture EMED. The companies are expected to pay the remainder in the coming days, paving the way for the ownership transfer to be completed this month. <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/30\/noble-delek-east-gas-sign-agreements-paving-the-way-for-gas-exports-to-your-favorite-new-regional-gas-export-hub\/\">Last year\u2019s acquisition agreement<\/a>, which both literally and figuratively provided the missing link for Israeli gas to flow into Egypt, received final approval from an Israeli antitrust regulator yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Israel to boost gas supply to Egypt: Dolphinus Holdings and the operators of Israel\u2019s offshore natural gas fields Delek Drilling and Noble Energy have agreed to increase the supply of natural gas to Egypt by 34% to 85.3 bn cubic meters (bcm) under amendments to the landmark 2018 agreement, both Bloomberg and Reuters reported, citing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":593620,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[4884,93,72,89,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-alaa-arafa","tag-energy","tag-enterpriseam","tag-israel","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"8df802fb-3f24-4fba-b1b2-6883bbcaf4a1","is_powered_by":true,"section_story_id":"c0259657-d7c8-4acf-92ae-7cdcf80435f9","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/775.jpg","photo_position":"above","related_issue":[593607],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Delek Drilling and Noble Energy announced signing two binding agreements to export gas from Israel to Egypt via Dolphinus Holdings, according to Globes. \u201cEgypt is becoming a real gas hub \u2026 This [agreement] is the first [transaction] of potentially more to come,\u201d\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591785,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/17\/israeli-govt-green-lights-gas-exports-to-egypt\/","url_meta":{"origin":593619,"position":2},"title":"Israeli gov\u2019t green-lights gas exports to Egypt","author":"enterpriseam admin","date":"17 December 2019","format":false,"excerpt":"Israel green-lights gas exports to Egypt: Israeli Energy Minister Yuval Steinitz yesterday gave the all-clear for Israel to begin exporting natural gas to Egypt, paving the way for the first gas shipments to arrive next month, according to the Jerusalem Post. Steinitz called the USD 19.5 bn gas agreement \u201cthe\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567187,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/15\/israel-begins-natural-gas-shipments-to-egypt\/","url_meta":{"origin":593619,"position":3},"title":"Israel begins natural gas shipments to Egypt","author":"enterpriseam admin","date":"15 January 2020","format":false,"excerpt":"Big news for our regional gas hub ambitions: Israel began pumping the first natural gas destined for Egypt yesterday, almost two years after the countries signed the landmark USD 15 bn agreement, Oil Minister Tarek El Molla and his Israeli counterpart Yuval Steinitz said in a joint statement yesterday (pdf).\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/605.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":615542,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/20\/israel-to-up-tamar-gas-exports-to-egypt-by-4-bn-cubic-meters-per-year-over-the-next-decade\/","url_meta":{"origin":593619,"position":4},"title":"Israel to up Tamar gas exports to Egypt by 4 bn cubic meters per year over the next decade","author":"enterpriseam admin","date":"20 February 2024","format":false,"excerpt":"The increased volumes will depend on output from the Tamar field increasing","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1865.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559399,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/paving-the-way-for-the-gas-hub\/","url_meta":{"origin":593619,"position":5},"title":"Paving the way for the gas hub","author":"enterpriseam admin","date":"20 January 2021","format":false,"excerpt":"We\u2019re on track to receive 7 bcm of natural gas from Israel through new and improved pipelines in the EastMed: Chevron, Delek Drilling and Israel Natural Gas Lines (INGL) will spend USD 235 mn to lay a new subsea pipeline and upgrade existing lines, enabling the companies to ship 7\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/242.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=593619"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593619\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593620"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593619"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593619"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}