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Israel, Egypt Plan New Gas Pipe That Could Boost Europe Supplies

  • Pipeline would increase Israel natural-gas exports to neighbor
  • Gas prices have surged due in part to strong demand from Asia

Israel and Egypt are in talks to build a new overland pipeline to boost Israeli gas exports to its neighbor, the Israeli Ministry of Energy said in a statement on Thursday. 

The pipeline will run from Israel to the Egyptian border on the Sinai peninsula, and will be operated by Israel Natural Gas Lines, a government-owned corporation. The company declined to comment on the talks. The news was first reported by Reuters.