Israel’s natural gas flows to Egypt are expected to almost double and reach pre-war levels early next week, according to a person familiar with Egyptian imports, after a major offshore field resumed output on easing safety concerns.
The stoppage at Tamar could result in lower shipments to buyers in Europe, who are increasingly reliant on alternatives to Russian pipeline flows, especially during the winter heating season.
Pipeline installation work at Chevron’s Tamar gas field will get under way in 2024.
Chevron (NYSE:CVX) has taken a final investment decision (FID) to expand the Tamar field, offshore Israel.
Chevron and partners are keen to increase gas exports to Israel’s neighbours and have made a bid to secure all capacity in a proposed pipeline to Egypt.
Abu Dhabi’s Mubadala Petroleum has reached 500,000 barrels of oil equivalent per day, for the first time in its history.
Delek Drilling has completed the sale of its stake in the Tamar field to Mubadala Petroleum for $1.1 billion.
Delek Drilling has signed the sale and purchase agreement with Mubadala Petroleum on the sale of a 22% stake in the Tamar field.
Delek Drilling has signed a non-binding memorandum of understanding (MoU) with Abu Dhabi’s Mubadala Petroleum on the sale of a gas field offshore Israel.
Cairn Energy has been linked with a potential purchase of a stake in Israel’s offshore Tamar gas field from Delek Drilling.
Delek Drilling has raised $2.25 billion through a bond issue to refinance debt taken out for its Leviathan project.
Gas exports from Israel’s Leviathan field to Egypt began on January 15.
A decade after its discovery was lauded as a guarantor of Israel’s energy security, the giant Leviathan natural-gas field started production Tuesday. But instead of anticipating a coal-free future, residents living near the gas platform have abandoned their homes for a day.
Israel has approved permits to export gas to Egypt, from offshore fields. First exports are expected in January.
Egypt and Israel have signed a natural gas supply deal at the Investment for Africa Forum, with the US government stepping in to provide insurance on the agreement.
Houston's Noble Energy said it will sell a 7.5 percent stake in its large Tamar gas field offshore of Israel in the Mediterranean for $800 million.