Israeli firm Delek will hold an extraordinary shareholders meeting on 1 July to hold a vote on whether to forgo a $200mn dividend payment in order to pay its share of a proposed 37% buy-in of the currently unused East Mediterranean Gas (EMG) pipeline.

Delek partners with US firm Noble at Israel’s two largest gas finds to-date, the 10tcf Tamar and 22tcf Leviathan. The two are teaming up with Dolphinus, a consortium of private Egyptian businessmen, in eying a controlling stake in the pipeline. (CONTINUED - 888 WORDS)