Back to the complete issue
Wednesday, 26 August 2020

Egypt and Jordan purchase USD 560 mn worth of gas from Israeli Leviathan field in 1H2020

And speaking of EastMed: Egypt and Jordan purchased USD 560 mn-worth of gas from Israel’s Leviathan in 1H2020. Egypt’s Dolphinus Holding and Jordan’s National Electric Power Company (NEPCO) bought a combined 4 bcm of natural gas from the Israeli Leviathan field during 1H2020 worth some USD 560 mn, Haaretz reports. Egypt received its first natural gas shipment from the Israeli concession earlier this year, almost two years after the countries signed a landmark USD 15 bn agreement import agreement that would see more than 85 bcm of gas delivered to Egypt over the next 15 years. Exact figures on the breakdown of the aggregate sales were not specified however.

(Editor’s Note- The Haaretz article says 1H2019, but since Israel didn’t start selling gas until January 2020, it’s a safe assumption that it meant 1H2020).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.