US firm Noble and Israel's Delek, along with Egypt state gas firm subsidiary East Gas, on 3 November completed the $518mn purchase of a 39% stake and operatorship of the offshore EMG Pipeline which links Israel’s Ashkelon with Egypt’s El Arish (see map, MEES, 8 November).
The deal to take the 39% stake was announced in September last year but has suffered numerous delays as the partners attempt to settle arbitration cases filed by the previous owners (MEES, 13 September). (CONTINUED - 248 WORDS)