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FINANCIAL NEWS
Egyptian firm to buy USD1.2b natural gas from Israel’s Tamar field
18 Mar 2015
(MENAFN) Egyptian firm Dolphinus Holdings signed a seven-year deal to buy an estimated USD1.2 billion of natural gas from Israel’s Tamar field, Reuters reported.
The agreement calls for a minimum of 5 billion cubic meters of gas to be sold in the first three years, the Tamar partners said. Gas has been one of the main requirements for Egypt during its political turmoil.
The gas will be exported through an underwater pipeline run by the East Mediterranean Gas company, which is the most feasible way for the two adjacent countries.
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