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Pipeline Deal Brings Export of Israeli Gas to Egypt within Sight
(Reuters) Ari Rabinovitch and Tova Cohen - Israel's Delek Drilling, the U.S.' Noble Energy, and the Egyptian East Gas Co. announced Thursday they will buy a 39% stake in the East Mediterranean Gas (EMG) pipeline to enable a $15 billion natural gas export deal to begin next year. An export deal signed in February envisions the supply of 64 billion cubic meters of gas over 10 years from Israel's offshore Tamar and Leviathan fields to Egypt. EMG owns a 90 km. subsea pipeline between Ashkelon in Israel and El-Arish in Egypt. Egyptian East Gas also owns a pipeline between El-Arish and Aqaba, Jordan.