Egypt Set To Invest USD 400M in Israel Gas Pipeline
Egypt is set for a USD 400 million investment in a natural gas pipeline within its territory, connecting to Israel’s line near Nitzana.
Managed by state-owned GASCO, the project will enable greater imports from Israel’s Leviathan field under a revised supply contract with NewMed Energy, an Israeli gas exploration and production company. The deal secures 4.6 trillion cubic feet of gas, delivered in two phases—706 billion cubic feet in the near term and up to 3.9 trillion cubic feet later, contingent on infrastructure expansion.
The agreement, running until 2040 or until the full volumes are supplied, represents the largest energy partnership between Israel and Egypt to date. With domestic consumption exceeding output—47.5 bcm produced against 60 bcm consumed—Egypt will rely on imports to cover shortfalls while positioning itself as a regional energy hub. Cairo also aims to resume net exporter status by 2027 as production scales up.
Read more in Globes.
