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Delek, Noble and Egypt Said to Put Final Touches on Gas Deal

Mirette Magdy, Yaacov Benmeleh
Delek, Noble and Egypt Said to Put Final Touches on Gas Deal

The companies developing Israel’s largest natural gas fields and their Egyptian partner have finalized details of a deal that would give them control over a pipeline to Egypt, according to people familiar with the matter, a crucial step that would pave the way for a $15 billion export contract. The deal involves setting up joint venture companies in Cyprus and the Netherlands, through which Israel’s Delek Drilling LP, U.S.-based Noble Energy Inc. and their Egyptian partner, East Gas, would buy a 37 percent stake in Eastern Mediterranean Gas Co., held by businessmen Sam Zell and Yosef Maiman, among others.