Delek, Noble and Egypt Said to Put Final Touches on Gas Deal
- Preliminary deal expected to be signed in no more than a month
- Agreement would pave the way to implement $15 billion contract
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The companies developing Israel’s largest natural gas fields and their Egyptian partner have finalized details of a deal that would give them control over a pipeline to Egypt, according to people familiar with the matter, a crucial step that would pave the way for a $15 billion export contract.
The deal involves setting up joint venture companies in Cyprus and the Netherlands, through which Israel’s Delek Drilling LP, U.S.-based Noble Energy Inc. and their Egyptian partner, East Gas, would buy a 37 percent stake in Eastern Mediterranean Gas Co., held by businessmen Sam Zell and Yosef Maiman, among others.