Tuesday, February 20, 2018

Israel announces 'historic' gas contract with Egypt - AFP, Arutz Sheva Staff




by AFP, Arutz Sheva Staff

PM Netanyahu announces contract for sales of billions of dollars' worth of Israeli natural gas to Egypt.


Israel's Tamar gas rig
Israel's Tamar gas rig
Moshe Shai/Flash 90
Prime Minister Benjamin Netanyahu on Monday announced an "historic" contract for sales of billions of dollars' worth of Israeli natural gas to Egypt.

The Israeli energy group Delek said the value of the contract was $15 billion.

"This will bring billions of dollars to state coffers for the benefit of education, health and welfare of the citizens of Israel," he said in a statement announcing the accord with Egypt, which in 1979 became the first Arab country to sign a peace treaty with Israel.

Regarding the financial and distribution outline reached between the developers of the reservoirs and the Israeli government, Netanyahu added, "There are many who did not believe in the gas outline. We led it in the knowledge that it would strengthen our security, strengthen our economy, also strengthen regional relations, but above all it will strengthen the citizens of Israel."

In September 2015, Jordan struck a deal to buy 300 million cubic feet (8.5 million cubic metres) of Israeli gas per day over a 15-year term.


AFP, Arutz Sheva Staff

Source: https://www.israelnationalnews.com/News/News.aspx/242146

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