Israel starts exporting natural gas to Egypt under landmark deal

Israel began exporting natural gas to Egypt on Wednesday under one of the most important deals to have been signed by the neighbors since they made peace decades ago.
A private firm in Egypt, Dolphinus Holdings, will purchase 85 billion cubic meters (bcm) of gas, worth an estimated $19.5 billion, from Israel's Leviathan and Tamar offshore fields over 15 years.
Yossi Abu, CEO of Israel's Delek Drilling, one of the partners in Leviathan and Tamar, said the landmark arrangement "marks a new era in the Middle East energy sector."
Israel will initially export 200 million cubic feet of gas per day to Egypt, two Egyptian industry sources said. Gas from Leviathon will be supplied to Dolphinus at a rate of 2.1 bcm per year, rising to 4.7 bcm per year by the second half of 2022, according to Delek.
The gas is being supplied via a subsea pipeline connecting Israel and...