March 24, 2019 / 11:47 AM / 4 months ago

Israel's Delek exploring partnership with Egypt LNG plants

JERUSALEM, March 24 (Reuters) - Israel’s Delek Drilling said on Sunday it was exploring options to boost natural gas exports to Egypt, including the possibility of buying into a liquefied natural gas (LNG) terminal on the northern Egyptian coast.

Delek is a partner in offshore gas fields in Israel and Cyprus and has already signed export deals to Egypt.

The company said in its 2018 annual report that one channel to increase sales could be through LNG plants near Idku and Damietta along the Mediterranean coast, and that it was “examining various arrangements with the owners of the liquefaction facilities”.

This could include purchasing liquefaction capacity or even buying into the plants themselves, Delek said. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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