Israel Set To Approve Long-Delayed Pipeline To Supply Gas To Egypt

 Israel Set To Approve Long-Delayed Pipeline To Supply Gas To Egypt

Analysts argue the $35-billion gas deal locks Egypt into dependence on Israeli supplies until 2040, giving Tel Aviv leverage over Cairo’s politics and energy security

The long-delayed Nitzana Pipeline is expected to be approved within the next two weeks after a two-year stalemate, Globes reported on 19 August.

Once completed, the line will allow Israel to increase natural gas exports to Egypt by 2028.

The project is operated by Israel Natural Gas Lines (INGL), the state-owned company responsible for building and managing the country’s natural gas transmission infrastructure.

The pipeline is designed to carry an additional six billion cubic meters (bcm) of gas per year into Egypt.

A consortium of Israeli natural gas exporters led by the US energy company Chevron and Israel’s NewMed Energy, which together operate the largest natural gas reservoir in the Mediterranean, located off the coast of Israel – the Leviathan field – had agreed to finance construction themselves but repeatedly failed to submit funding proposals.

🔗SOURCE ➡️ The Cradle

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