Noble Energy; Isramco and other Israeli companies to supply natural gas to Egypt

By Admin
[email protected] The May issue of Energy Digital magazine is live Union Fenosa Gas SA(UFG) and the partners of the Tamar field have signed a Letter...

The May issue of Energy Digital magazine is live

Union Fenosa Gas SA (UFG) and the partners of the Tamar field have signed a Letter of Intent to supply natural gas from Tamar, offshore Israel, to UFG's existing natural gas liquefaction facilities in Egypt. The Letter of Intent contemplates a contract term of 15 years and a total gross sales quantity of up to 2.5 trillion cubic feet (Tcf) of natural gas, or approximately 440 million cubic feet per day over the period. 

All parties involved expect a binding agreement to be finalized within six months. That contract will be subject to the receipt of regulatory approvals in Israel and Egypt.

Noble Energy operates Tamar with a 36 percent working interest. Other interest owners are Isramco Negev 2 with 28.75 percent, Delek Drilling with 15.625 percent, Avner Oil Exploration with 15.625 percent, and Dor Gas Exploration with the remaining four percent.  The Tamar field has an estimated 10 Tcf of discovered natural gas resources.

The associated expansion of the Tamar field facilities, subject to final investment decision of the Tamar partners, will not only enable substantial regional exports, but it will also increase the capacity for natural gas deliveries to Israel's domestic market, according Keith Elliott, Noble Energy's senior vice president, Eastern Mediterranean. 

Building on the recent agreements with the Palestinian Power Generation Co., as well as the Arab Potash and Jordan Bromine Cos., this agreement continues to demonstrate Noble Energy’s ability to accelerate value and strengthen economic growth for stakeholders across the Eastern Mediterranean region, Elliot added.

Share
Share

Featured Articles

ABB scoops global energy automation technology award

ABB excels in innovating subsea systems and electrification services and providing underwater control solutions according to Frost & Sullivan

INEOS Köln awarded €770,000 for green hydrogen study

State funding will support feasibility study for the construction of 100MW water electrolysis plant for green hydrogen at the INEOS site in Köln

UK receives £2.7bn upfront funding to boost grid capacity

Ofgem's proposed package totals £20.9bn as part of its five-year vision to build reliable and clean energy

Poland and Germany best placed for gas-to-coal switch

Oil & Gas

Leclanché fire retardant additive cuts battery fire risk

Renewable Energy

DP World receives first all-electric terminal tractor

Sustainability