Egyptian company Dolphinus Holdings plans to start importing gas from Israel for re-export in less than a year. According to reports out of the North African country, Dolphinus will begin imports in Q1 2019.
Under agreements signed in February, the Egyptian firm will purchase $15 billion worth of gas over 10 years.
“Imports will start in small quantities first and will gradually increase to reach their climax in September 2019,” one source told Reuters. The source gave no details on prices or quantities.
Partners in Israel’s Tamar and Leviathan offshore gas fields said in February they would supply Dolphinus Holdings with around 64 Bcm of gas over a decade. Half will come from each field, and the proceeds will be split equally, they said. No date was set for the start of exports.