Israel considering new pipeline to boost gas exports to Egypt [Reuters]
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Source: Reuters
REUTERS/Amr Abdallah Dalsh/File Photo LONDON (Reuters) - Israel is considering the construction of a new onshore pipeline to Egypt in order to quickly boost natural gas exports to its neighbour in the wake of the recent tightening of global supplies, the Israeli energy ministry said. The pipeline, which will connect the Israeli and Egyptian natural gas grids through the north of the Sinai peninsula, is estimated to cost around $200 million and could be operational within 24 months, industry sources who are close to the discussions told Reuters. A new onshore pipeline, coupled with plans to construct a second subsea pipeline to Egypt within a few years, will further cement Israel's position as a key energy hub in the eastern Mediterranean which has upended diplomatic relations with countries in recent years. Israel became a key supplier of natural gas to energy-thirsty Egypt in January 2020 after starting production from its Tamar and Leviathan offshore gas fields. Around 5 bil
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