Israeli Energy Minister Agrees to More Gas Exports for Egypt
- New export permit is for Tamar field and will run 11 years
- Increased exports won’t hurt domestic supply, ministry says
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Israel will export more natural gas to Egypt from its Tamar field in the Mediterranean, a decision that will increase national revenue and strengthen ties with its neighbor, according to Israeli Energy Minister Israel Katz.
The new export permit is for 3.5 billion cubic meters per year for about 11 years, or 38.7 bcm, with an option to increase the total to 44 bcm depending on future production, the ministry said in a statement. The original export request was for 60 bcm.