Israeli and Egyptian power ministers have agreed to build a pipeline to connect Israel’s offshore Leviathan natural gas field to liquefied natural gas (LNG) plants in northern Egypt, the Israeli minister said Sunday.
Yuval Steinitz held a meeting with his Egyptian group, Tarek El Molla, as both countries look for new ways to expand the development of the Eastern Mediterranean natural gas.
Molla first came to Israel with an Egyptian minister in more than five years.
The Leviathan field, located 130 km (80 miles) off the coast of Israel, already supplies Israel’s domestic market and exports gas to Jordan and Egypt. Shareholders include Chevron and Delek Drilling.
Leviathan partners have been exploring options to expand the project, including a floating LNG facility or an underwater pipeline to connect to former LNG terminals in Egypt. idled or run at less than their capacity.
Steinitz said the two governments were moving forward with the pipeline plan and were working on a formal agreement.
“The two ministers agreed on the construction of offshore gas pipeline (s) from the Leviathan gas field to the liquefaction facilities in Egypt, to increase gas exports to Europe through the liquefaction facilities in Egypt. , “Steinitz ‘s office said in a statement.
Prime Minister Benjamin Netanyahu said ahead of his meeting with Molla that Israel and Egypt have become “energy centers.”
“Together, we can provide not only our own needs but the needs of many other countries,” he said. “So it is in the spirit of friendship and co-operation and peace and prosperity that I welcome to Israel. “
Molla signed a memorandum of understanding for Egypt to help develop the Gaza Marine area with two project partners, the Palestinian Investment Fund, the Palestinian Authority Sovereign Fund, and the Collective Contracting Company.
Gaza Marine sits about 30 km (19 miles) off the coast of the Palestinian ocean and is estimated to hold more than 1 trillion cubic feet of natural gas.