{"id":622425,"date":"2018-10-01T04:08:07","date_gmt":"2018-10-01T04:08:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/"},"modified":"2018-10-01T04:08:07","modified_gmt":"2018-10-01T04:08:07","slug":"emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/","title":{"rendered":"EMG, Israeli Electric are withdrawing arbitration cases against Egypt"},"content":{"rendered":"<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>EMG, IEC have begun withdrawing arbitration cases against Egypt:<\/strong> East Mediterranean Gas (EMG) and Israel Electric Corporation have officially begun proceedings to drop their international arbitration case against state energy companies EGPC and EGAS, <a href=\"https:\/\/alborsaanews.com\/2018\/09\/30\/1136653\">according to Oil Ministry sources<\/a>. The two cases would have seen Egypt pay a combined USD 1.988 mn in fines for failing to supply IEC with gas in 2012.<\/p>\n<p><strong>Key step in our energy hub transformation:<\/strong> The withdrawal of the claims are conditions of the <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\/\">USD 518 mn agreement<\/a> Noble Energy and Delek \u2014 the operators of Israel\u2019s Leviathan and Tamar gas fields \u2014 and their Egyptian partner East Gas signed last week. The transaction gives Nobel and Delek a 39% stake in EMG, paving the way for the gas field operators to export natural gas to Egypt under a USD 15 bn agreement <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/20\/dolphinus-reportedly-signs-usd-15-bn-natural-gas-agreement-with-israel\/\">signed in February<\/a> with Alaa Arafa\u2019s Dolphinus Holdings.<\/p>\n<p><strong>Advisers:<\/strong> Shahid Law Firm acted as sell-side legal counsel on the EMG transaction, while Alliance Law Firm had was on the buy-side.<\/p>\n<p><strong>The final tally on this FY\u2019s natural gas imports: <\/strong>Egypt imported 17 shipments of liquefied natural gas (LNG) worth USD 500 mn in 1QFY2018-19, Oil Ministry spokesman <a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N1WG04W\">Hamdi Abdelaziz tells Reuters<\/a>. Imports in FY2017-18 amounted to USD 1.5 bn for 76 shipments, according to Abdelaziz. Egypt received its final shipment of imported LNG last week, marking the end of natural gas imports for the country, Oil Minister Tarek El Molla <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/30\/egypt-ends-natural-gas-imports\/\">told the press over the weekend<\/a>. El Molla <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/16\/were-on-track-to-begin-natgas-exports-in-january-says-el-molla\/\">had previously said<\/a> Egypt is due to begin exports by January 2019, with exports expected to reach 400 mcf\/d in early 2019, <a href=\"https:\/\/alborsaanews.com\/2018\/09\/30\/1136629\">unnamed ministry sources said<\/a>. The exports include 250 mcf\/d <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/12\/jordan-egypt-ink-agreement-on-gas-supply-resumption\/\">Egypt will be supplying to Jordan<\/a> as of the beginning of next year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EMG, IEC have begun withdrawing arbitration cases against Egypt: East Mediterranean Gas (EMG) and Israel Electric Corporation have officially begun proceedings to drop their international arbitration case against state energy companies EGPC and EGAS, according to Oil Ministry sources. The two cases would have seen Egypt pay a combined USD 1.988 mn in fines for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622425","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"806c3642-4c70-4392-b151-09764d2d531f","order":"0","is_powered_by":true,"section_story_id":"24d84cdb-a36c-475b-b9ba-7f3ed21e9fc2","story_type":"1","photo_url":"","photo_position":"above","related_issue":[622418],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EMG, Israeli Electric are withdrawing arbitration cases against Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EMG, Israeli Electric are withdrawing arbitration cases against Egypt\" \/>\n<meta property=\"og:description\" content=\"EMG, IEC have begun withdrawing arbitration cases against Egypt: East Mediterranean Gas (EMG) and Israel Electric Corporation have officially begun proceedings to drop their international arbitration case against state energy companies EGPC and EGAS, according to Oil Ministry sources. The two cases would have seen Egypt pay a combined USD 1.988 mn in fines for [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-01T04:08:07+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EMG, Israeli Electric are withdrawing arbitration cases against Egypt\",\"datePublished\":\"2018-10-01T04:08:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/\"},\"wordCount\":291,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/emg-israeli-electric-are-withdrawing-arbitration-cases-against-egypt\/\",\"name\":\"EMG, Israeli Electric are withdrawing arbitration cases against Egypt - 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Israel\u2019s Delek, its Texas-based partner\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":621947,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/22\/egypt-finalizes-settlement-with-israel-on-usd-1-76-bn-intl-arbitration-ruling\/","url_meta":{"origin":622425,"position":2},"title":"Egypt finalizes settlement with Israel on USD 1.76 bn int\u2019l arbitration ruling","author":"enterpriseam admin","date":"22 November 2018","format":false,"excerpt":"Egypt finalizes settlement with Israel on USD 1.76 bn int\u2019l arbitration ruling: The Madbouly government has finalized a settlement to reduce a USD 1.76 bn award Israeli Electric Company won in 2012 against EGAS, EGPC and East Mediterranean Gas (EMG), unnamed government sources told the domestic press. The settlement, awarded\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":592679,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/delek-consortium-egypts-east-gas-acquire-39-stake-of-emg-pipeline\/","url_meta":{"origin":622425,"position":3},"title":"Delek consortium, Egypt\u2019s East Gas acquire 39% stake of EMG pipeline","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"EMG ownership transferred to Delek, Noble and East Gas: Ownership of the East Mediterranean Gas (EMG) subsea pipeline that runs between Egypt and Israel has been transferred to Israel\u2019s Delek Drilling, Texas-based Noble Energy and Egypt\u2019s East Gas, Bloomberg reports. The move brings us one (very significant) step closer to\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\/2019\/1\/723.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625170,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/30\/noble-delek-east-gas-sign-agreements-paving-the-way-for-gas-exports-to-your-favorite-new-regional-gas-export-hub\/","url_meta":{"origin":622425,"position":4},"title":"Noble, Delek, East Gas sign agreements paving the way for gas exports to your favorite new regional gas export hub","author":"enterpriseam admin","date":"30 September 2018","format":false,"excerpt":"We just became the East Med\u2019s premier energy hub: The operators of Israel\u2019s Leviathan and Tamar gas fields, Noble Energy and Delek, along with their Egyptian partner East Gas, have signed agreements to acquire a 39% stake in pipeline operator East Mediterranean Gas (EMG). This paves the way for the\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\/2018\/8\/461.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632796,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/20\/dolphinus-reportedly-signs-usd-15-bn-natural-gas-agreement-with-israel\/","url_meta":{"origin":622425,"position":5},"title":"Dolphinus reportedly signs USD 15 bn natural gas agreement with Israel","author":"enterpriseam admin","date":"20 February 2018","format":false,"excerpt":"Egypt just became the region\u2019s premier energy hub. 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622425","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=622425"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622425\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/622418"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=622425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=622425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=622425"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=622425"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=622425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}