Israeli media in recent weeks has been rife with speculation that Prime Minister Benjamin Netanyahu and his energy minister Eli Cohen were close to approving the mega $35bn Israel-Egypt gas deal. The pair did not disappoint and during a joint television address on 17 December announced that they have “approved the largest gas deal in Israel’s history.”
The deal, initially reached in August, will result in an extra 130.9bcm of gas being supplied from Israel’s 22.3tcf Leviathan field to Egypt. In order to be approved, two conditions had to be met (MEES, 8 August). The first was for an agreement to be reached for the construction of a 600mn cfd onshore pipeline linking the Israeli and Egyptian gas grids via the border town of Nitzana. This was reached in October (MEES, 31 October). (CONTINUED - 1975 WORDS)
