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Israel starts exporting natural gas to Egypt

Israel began exporting natural gas to Egypt on Wednesday being one of the most important deals the countries have been signed since they made peace decades ago.

Dolphinus Holdings, a private firm in Egypt will purchase 85 billion cubic meters (bcm) of gas, worth an estimated $19.5 billion, from Israel’s Leviathan and Tamar offshore fields over 15 years.

Yossi Abu, CEO of Israel’s Delek Drilling, one of the partners in Leviathan and Tamar, said the landmark arrangement “marks a new era in the Middle East energy sector.”

two Egyptian industry sources said that Israel will initially export 200 million cubic feet of gas per day to Egypt,
According to Delek, by the second half of 2022 gas from Leviathon will be supplied to Dolphinus at a rate of 2.1 billion cubic meters per year, increasing to 4.7 billion cubic meters per year.

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