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WSJ: Egypt would approve BG's Israel gas deal if local demand met

  • Egypt is willing to approve a potential deal allowing BG Group (BRGXF, BRGYY) to import natural gas from Israel for its local facility if the parties involved agree to help meet the country's domestic demand at a reasonable price, WSJ reports.
  • The partners in Israel's Leviathan offshore natural gas field, including Noble Energy (NBL), signed a preliminary agreement last month with BG for the supply of natural gas from the field to BG's existing natural gas liquefaction facilities in Egypt.
  • According to the deal, Leviathan would supply 7B cubic meters/year for 15 years via an underwater pipeline, or average volumes of 685M cf/day, the equivalent of just over 70% of the BG-operated Idku plant's daily volumes.
Comments (1)
  • ziggysdad
    , contributor
    Comments (42) | Send Message
     
    The only problem is NBL is in a downward trend. I'll wait for a lower price.
    7 Jul 2014, 05:08 PM Reply Like
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