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Thursday, 1 August 2019

Israeli regulator gives thumbs up to Delek-led EMG pipeline acquisition

Israeli regulator gives thumbs up to Delek-led EMG pipeline acquisition: Israel’s antitrust regulator has agreed to let partners Noble Energy and Delek Drilling buy into the East Mediterranean Gas (EMG) pipeline running between Egypt and Israel, provided they let other companies access it, Reuters reported. Delek, Noble, and East Gas hope to complete their acquisition of a 39% stake in the subsea Ashkelon-El Arish pipeline by August, paving the way for Israel to begin exporting gas to Egypt in November. The Israeli gas partners will be supplying Alaa Arafa-led Dolphinus Holding with gas from each of the Leviathan and Tamar gas fields under a USD 15 bn agreement signed last year. The regulator, which will review the situation in 10 years, has asked the two companies to be prepared to “swap” supply agreements should an Egyptian supplier later decide to sell gas to Israeli companies.

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