The talks between Israel and Egypt on buying Israeli gas have been going on smoothly for months. This deal would make Israel a major oil exporter to the densely populated Arab nation.
Two large oil companies have revealed the intention to move a staggering measure of oil into Egypt in the next decade. Israel’s oil just reached its peak for the first time in about ten years. However, government of both countries will exercise some control over the deal.
The relationship between the two countries will become better since the new deal deviates from the traditional security deal signed nearly 40 years ago. More deals are anticipated, especially the huge purchases of gas by Royal Dutch Shell Plc in the northern part of Egypt.
The oil deal is one of a kind, clearly different from the security agreement between both countries in the Middle East. It is an opportunity for Israel to play a major role in the region’s energy division.
Following Israel’s oil trade with Jordan two years ago, the deal with Egypt was next in line. The thickly populated Arab country has plans to bring in more investors into its energy field. Most of Egypt’s oil plants are idle, but Egypt plans to make it the region’s oil hub. This plan would attract other deals and bring economic prosperity to both countries.
Security in the Middle East is still a huge challenge and this could hamper the movement of gas from Israel’s oil companies. Years ago, Egypt had been the supplier of gas to Israel but Islamic militants destroyed the facilities used for the purpose. An international court ruled against Egypt ordering compensation to be made to an Israeli power supply company and another company, EMG, which managed oil pipelines during the transactions. Consequently, movement of oil from Cairo was put on hold.
To curtail further regional disputes, Egypt plans to make the country a rallying point of the regions energy divisions. If the plan works out, it could bring lasting peace to the Middle East. The idea of being self-reliant and increase oil production has been part of the plan of the Egyptian government over the years. It is a plan to trade in gas with East Mediterranean countries, together with Cyprus and Israel.
Recently, Cyprus energy minister disclosed the country’s ongoing economic deal with Egypt. The talks centre on moving natural gas from Cyprus to a major oil field in Egypt. Areas around Cyprus, Lebanon and Egypt have oil potentials. The area could hold very large measure of gas which far exceeds the US oil reserves. But the discovery of oil in these areas has threatened the cordial relationship between Israel and Lebanon in the past weeks.
How the new deals affect Egypt’s export of oil from its major oil field at Zohr is yet to be ascertained. A talk related to managing of pipelines begins with EMG soon, although the country may choose to make use of pipelines already connecting Israel and Jordan.
Noble Energy Inc.とDelek Drilling-LPは、イスラエルのTamarとLeviathanの貯水池から、エジプトのDolphinus Holdings Ltd.に10年間で約640億立方メートルの天然ガスを供給することを計画中だと語りました。イスラエルのガス企業の株価は、月曜日にここ9年で最高の上昇を見せました。ちなみに、この取引には、エジプトとイスラエルの規制当局および政府による承認が必要です。この動きは、約40年前に中東政治の顔を変えた和平協定に署名したことから、安全保障に焦点を当てた関係に経済的な利益を加える可能性があります。ロンドンに拠点を置くBarclays Plcのアナリストである、タービー・ロズナー氏は、エジプト北部で液化天然ガス工場を運営するRoyal Dutch Shell Plcにイスラエルのガスを売却することなど、より多くの合意が必要だと述べました。
以色列 - 埃及价值150亿美元的交易助力埃及成为能源枢纽
Noble Energy Inc.和Delek Drilling-LP表示，他们计划通过10年的时间向埃及Dolphinus Holdings Ltd.供应约640亿立方米的天然气。
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