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Billionaire Tshuva May Herald Next Step in Israel-Egypt Ties

  • Tshuva’s Delek eyes stakes in Egypt’s gas-liquefaction plants
  • Deal may help both nations explore ties beyond security
Women observe a Liquefied Natural Gas (LNG) tanker as it sails on the Suez Canal, Egypt. 

Women observe a Liquefied Natural Gas (LNG) tanker as it sails on the Suez Canal, Egypt. 

Photographer: Dana Smillie/Bloomberg

Updated on

Delek Drilling LP, the Israeli energy explorer controlled by billionaire Yitzhak Tshuva, is considering buying a stake in an Egyptian liquefied natural gas plant to broaden its export footprint.

Acquiring a piece of either the Idku or Damietta facilities, operated by Royal Dutch Shell Plc and Spain’s Union Fenosa SA, respectively, is among the various routes possible for the Egyptian deal, the company said in its annual report on Sunday. Other options are buying capacity at the plants rather than equity stakes, or enrolling their gas liquefaction services.