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Tag: EMG
Snam

Snam buys 25% stake in EMG Gas Pipeline from Thai company PTT

Posted: December 5, 2021 at 9:52 am   /   Oil & Gas

Italy’s Snam steps into the EastMed: Italian energy company Snam has bought Thai investor PTT Energy Resources’ 25% stake in the the East Mediterranean Gas Company for USD 50 mn. EMG is the owner of the Arish-Ashkelon gas pipeline which Israel uses to ship gas to Egypt, the company said in a statement. The stake purchase marks the […]

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gas-drilling

EMG gas pipeline faces ownership change as Delek plans LSE spin-off

Posted: November 30, 2020 at 12:21 pm   /   Oil & Gas

Delek Drilling to transfer ownership in Israel-Egypt gas pipeline to new company as part of LSE spin-off plan: Delek Drilling, one of the main operators of Israel’s large offshore gas fields, is planning to spin off most of its assets into a new company it will IPO on the London Stock Exchange, according to a […]

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EMG

EMG pipeline ownership transferred to Delek, Noble, East Gas consortium

Posted: November 4, 2019 at 10:52 am   /   Oil & Gas

Egypt just cleared a major hurdle to its dream of becoming the premier East Med energy hub – EMG ownership transferred to Delek, Noble and East Gas. Ownership of the East Mediterranean Gas (EMG) subsea pipeline that runs between Egypt and Israel has been transferred to Israel’s Delek Drilling, Texas-based Noble Energy and Egypt’s East […]

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EMG

Noble, Delek, EMG strike $518 million gas pipeline deal

Posted: September 29, 2018 at 12:17 pm   /   Oil & Gas

Noble Energy said it has executed multiple agreements to support delivery of natural gas from the Leviathan and Tamar fields, offshore Israel, into Egypt. J. Keith Elliott, Noble Energy’s senior vice president, Offshore, stated: “Today’s announcements mark significant steps forward in supplying natural gas from the world-class Tamar and Leviathan fields to regional customers through […]

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EMG

Bloomberg: Delek, Noble said to put final touches on EMG gas deal

Posted: August 11, 2018 at 8:46 pm   /   Oil & Gas

Preliminary deal expected to be signed in no more than a month. Agreement would pave the way to implement $15 billion contract. The companies developing Israel’s largest natural gas fields and their Egyptian partner have finalized details of a deal that would give them control over a pipeline to Egypt, according to people familiar with […]

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East-Med

Delek could invest up to $200 million for access to EMG’s gas pipeline to Egypt

Posted: June 13, 2018 at 2:34 pm   /   Oil & Gas

Israel’s Delek could invest up to USD 200 million to gain access to EMG’s subsea natural gas pipeline to Egypt’s Sinai: Shareholders in Israel’s Delek Group will meet on 1 July to vote on investing USD 200 million to buy the rights to use a subsea pipeline that would allow the company to export natural […]

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Noble, Delek seek to buy rights for EMG gas pipeline for Egypt supply

Posted: March 11, 2018 at 8:21 pm   /   Oil & Gas

The partners in the Tamar and Leviathan natural gas site off Israel’s coast are in talks to buy the rights to use the East Mediterranean Gas (EMG) pipeline to supply gas to customers in Egypt. The partners, Texas-based Noble Energy and Israel’s Delek Drilling, did not provide details. Delek said there was no certainty a […]

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Dolphinus Holding to buy Tamar, Leviathan gas in $15 billion deal

Posted: February 20, 2018 at 12:30 pm   /   Oil & Gas

Private Egyptian firm Dolphinus Holding will buy 64 billion cubic meters (BCM) of natural gas from the Tamar and Leviathan gas fields over 10 years. The deal is worth an estimated $15 billion. The partners in Israel’s Tamar and Leviathan offshore gas fields said they would supply the Egyptian company with around 64 billion cubic […]

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East Mediterranean Gas Company loses appeal, to pay $174 million in debt

Posted: November 13, 2017 at 12:50 pm   /   Oil & Gas

Court orders East Mediterranean Gas Company to pay $174 mln in debt to Egypt’s National Bank. Egypt’s Court of Cassation has rejected an appeal by the East Mediterranean Gas Company against a 2016 ruling obliging the company to pay off $174 million in debt to Egypt’s National Bank. The company was founded and previously headed […]

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ICC tribunal assignment spells success for Egyptian EGAS

Posted: June 18, 2016 at 5:08 pm   /   Oil & Gas

An ICC tribunal has rejected claims for contractual penalties worth more than US$270 million plus interest against Egypt’s state-owned natural gas supplier EGAS, finding that the claimant had assigned all its rights under a gas supply contract to a third party. Counsel to EGAS, Shearman & Sterling, reports that a tribunal composed of David St […]

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