Egypt and Israel have signed a natural gas supply deal at the Investment for Africa Forum, with the US government stepping in to provide insurance on the agreement.
The US International Development Finance Corp. (DFC) will provide US$430m (US$333m) in insurance, on the rehabilitation of a natural gas pipeline, allowing gas from Israel’s offshore fields to be exported to Egypt. Noble Energy will be able to restore the 90 km East Mediterranean Gas (EMG) pipeline, which runs from Israel’s Ashkelon to Egypt’s Al-Arish.
Transportation of 3 trillion cubic feet (850bn cubic metres) of gas over 15 years, around 200bn cubic feet (57 bcm) per year, is also covered under the insurance.
Noble and partners have committed to providing 200 million cubic feet (5.7 mcm) per day in the first half of 2020 from the Leviathan field, under the agreement with Dolphinus.
