International News

    President says Egypt ‘scored a goal’ with Israel gas deal

    The Egyptian president declared  that his country “scored a goal” by signing a $15bn deal with an Israeli company to supply natural gas that will help turn Egypt into a regional energy hub.
    President Abdel Fatah al-Sisi’s televised remarks were the first high-level comments on the deal that fueled controversy on social media.
    The project “has a lot of advantages for us (Egyptians). And I want people to be reassured,” al-Sisi said.
    The Egyptian government was not directly involved in the deal, however, but “provided several things to … achieve this deal,” he said. “By taking this decision, we scored a big goal.”
    Delek Drilling and its US partner, Noble Energy, signed the agreement on Monday to sell a total of 64 billion cubic meters of gas over a 10-year period to Egyptian company Dolphinus Holdings. The gas is expected to start flowing next year.
    Yossi Abu, chief executive of Delek Drilling, called the deal “great news” for both countries.
    He said he expects most of the gas to be used for Egypt’s domestic market, but predicted it could pave the way for wider cooperation and help turn Egypt into an export hub for Israeli gas.
    “I think that the main thing is that Egypt is becoming the real gas hub of the region,” he said.

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