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August 31, 2015 7:57 am

Israeli Minister Says Egypt Gas Discovery Could Hurt Israeli Exports

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A gas rig off Israel's coast. Photo: YouTube screenshot.

A gas rig off Israel’s coast. Photo: YouTube screenshot.

Reuters – A huge natural gas field discovered offshore Egypt could have implications for Israel, which is looking to export its own deposits, Israeli Energy Minister Yuval Steinitz said on Sunday.

Partners Noble Energy and Delek Group, who in recent years discovered two sizeable fields in Israeli waters, have been negotiating long-term contracts to sell gas to customers in Egypt, but the deals have been held up by regulatory uncertainty in Israel.

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  • dante

    the short-sighted, self-important, dim-witted bureaucrats screw things up, again.

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