Leviathan Gas Field
Officials said the move could accelerate joint infrastructure projects and deepen regional cooperation on energy security and innovation.
The deal will strengthen regional stability and Israeli energy security, said Yossi Abu, CEO of NewMed Energy.
A Hezbollah spokesman said that the Yemen-based terror group is planning its next phase against the Jewish state.
Royalties surge 23% in the first half of the year.
Four groups are biding to search for energy in the eastern Mediterranean.
“The expansion will allow us to supply more energy to the local, regional and global market.”
The “Gas for Gaza” initiative seeks to see natural gas pumped from Israel’s Leviathan gas field into the Gaza Strip, according to Arab media.
Snam buys a stake in the 90-kilometer (56-mile-long) “peace gas pipeline,” one of the main energy supply sources for Egypt.
The state-of-the-art German-made Sa’ar 6 will form a central pillar in Israel’s ability to secure its economic waters and naval energy resources, which are under mounting threat from Hezbollah’s arsenal, Hamas and Iranian forces in the region.
The deal represents a “tremendous expression of confidence in the Israeli energy market,” says Israeli Energy Minister Yuval Steinitz.
Terrorist group says its fighters were responsible for the attack on “the natural gas line linking the Jews and the apostate Egyptian government.”
Suspected Islamist terrorists blew up a natural-gas pipeline west of el-Arish, causing a fire but no casualties.
