dBSPL
SENIOR MEMBER
- Joined
- Mar 2, 2018
- Messages
- 7,661
- Reaction score
- 28
- Country
- Location
YERUSHALAYIM -
Israel became an energy exporter Wednesday, as the first delivery of natural gas from the Leviathan gas field was transferred to Egypt. The gas began flowing after several tests in recent weeks by Noble Energy, which along with its Israeli partners has the franchise for exploring, refining and exporting gas from the Leviathan and Tamar gas fields. Last week, gas from the Leviathan field began to flow to Israeli customers, with the Israel Electric Company the first local customer.
Egypt is the first international customer for Leviathan gas. Under the deal, Israel will export a total of 60 billion cubic meters (BCM) of gas from Leviathan over the next 15 years, and 25 BCM from the Tamar field over that period as well. Between 2020 and 2034, some 26 billion BCM of that gas will go to Egypt, based on the arrangement between the Israeli licensees of the fields and the Egyptian company authorized to purchase the gas. Gas is also set to be exported to Jordan.
Israel is also set to export gas to Europe, after Israel, Cyprus and Greece concluded an agreement for the construction of an underground pipeline that will bring Israeli gas to the European continent. The deal will entail construction of what will be the longest gas pipeline in the world
Israelis will benefit from Leviathan gas as well. As a result of the new production, Israelis will pay less for electricity beginning January 1. Rates for home users will fall by 4.13%, and for businesses, factories and public use (street lighting and the like) by 5.3%. Electricity will cost an average of 53 agurot per kilowatt hour, instead of the current 55 agurot.
Energy Minister Yuval Steinetz said that the beginning of exporting gas to Egypt “is a great event for Israel. The cooperation between Israel and Egypt in the energy and gas spheres, worth tens of billions of dollars, is the first of its kind since the signing of a peace treaty between our two countries 40 years ago.” https://hamodia.com/2020/01/15/israeli-gas-begins-flowing-egypt/
**
The flow of natural gas from Israel to Egypt began today. It is an important step that will affect the cooperation between the two countries not only economically but in many ways. For those who remember that plan was in the opposite direction of the flow a few years ago , the issue is much more interesting. It will provide economic relief for Israel's energy policies..
Perhaps the issue is not even directly related to Egypt. Time will show us.
I think most of us still remember of journalist Mohammed Saud's ( known for his close proximity to the Crown Prince MBS ) live video call with Netanyahu.
**
Although I have no hope, I wish that this formation will contribute to sustainable peace in the region. At least I wish that the Egyptian people could improve their welfare conditions.
Last edited:
