Israel exporting gas to Egypt within four months – minister

Israel will begin exporting natural gas to Egypt within four months, Reuters reported citing Energy Minister Yuval Steinitz as saying on Wednesday.

The flow will secure the beginning of a $15 billion export agreement between Delek Drilling and partner Noble Energy with an Egyptian counterpart in what Israeli officials called the most significant deal to emerge since Tel Aviv and Cairo made peace in 1979.

The deal signed early last year will bring natural gas from Israeli offshore fields Tamar and Leviathan into the Egyptian gas grid.

Steinitz also said that a deal to buy stakes in the East Mediterranean Gas Company’s pipeline between Ashkelon in Israel and El-Arish in Egypt will be completed “within weeks” and that more connections could be built between the two countries.

Delek and Noble have agreed to buy into the pipeline to transport the gas supplies. Delek said that technical examination of the pipeline is complete and it expects to close the East Mediterranean Gas Company deal by Aug. 31.

Steinitz arrived in Cairo on Wednesday heading a delegation to attend a two-day Eastern Mediterranean gas forum, which will take off on Thursday.