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(Bloomberg) Mirette Magdy and Yaacov Benmeleh - The companies developing Israel's largest natural gas fields agreed to increase the supply to Egypt by 35%, amending a 2018 contract, according to a Tel Aviv Stock Exchange filing on Wednesday. The Israeli gas will start flowing to Egypt at the beginning of 2020, reaching full capacity by 2022. Domestic demand in Egypt for natural gas will rise about 30% over the next two decades, causing a supply shortage within five years, according to Wood Mackenzie, a UK-based energy research firm.2019-10-03 00:00:00Full Article
Egypt Agrees to Buy More Israeli Natural Gas
(Bloomberg) Mirette Magdy and Yaacov Benmeleh - The companies developing Israel's largest natural gas fields agreed to increase the supply to Egypt by 35%, amending a 2018 contract, according to a Tel Aviv Stock Exchange filing on Wednesday. The Israeli gas will start flowing to Egypt at the beginning of 2020, reaching full capacity by 2022. Domestic demand in Egypt for natural gas will rise about 30% over the next two decades, causing a supply shortage within five years, according to Wood Mackenzie, a UK-based energy research firm.2019-10-03 00:00:00Full Article
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