Gaseous clashes: EMG claims no knowledge of Dolphinus-Israel deal

Published December 3rd, 2015 - 05:56 GMT

Conflicting reports are emerging over the involvement of Eastern Mediterranean Gas (EMG) in the recent natural gas import deal between Israel and Egypt’s Dolphinus.

Dolphinus recently signed an agreement with operators from Israeli Mediterranean natural gas field Leviathan. Based on the deal, the company will import natural gas from the Israeli field over a period of 10-15 years for US$10 billion.

“Dolphinus hopes to get the necessary approval from the Egyptian government in a few months,” company co-founder Khaled Abu Bakr told Bloomberg in a phone call from Paris.

“The company has the support of a large shareholder in the Arish–Ashkelon pipeline, which links Israel to Egypt’s Arab-Gas Pipeline, and is discussing fees,” Abu Bakr told the website, without identifying the shareholder.

But EMG, which runs the pipeline, said in statements to Israeli news website Globes three days ago that it had no information of the deal.

"EMG is not a party to and is not aware of the deal reported between the Leviathan partners and Dolphinus or any other third party, and it has not participated in any such negotiations," the website quoted the company as saying.

"Dolphinus has signed a letter of intent with most of the shareholders in EMG, and as we speak a meeting is being held in London between representatives of Dolphinus and of EMG on using the gas pipeline,” according to a source at EMG speaking to Globes.

© Copyright Egypt Independent. All rights reserved.

You may also like