Israel’s Isramco and UAE-based Mubadala Energy are pursuing a long-term natural gas export agreement with an Egyptian counterpart worth a potential $20 billion, built around supplying gas from the giant Tamar offshore field.

According to an Isramco filing to the Tel Aviv Stock Exchange, the two companies signed a non-binding memorandum of understanding with a foreign customer to supply 80 billion cubic metres of gas from Tamar over the 2031-2038 period, with the possibility of extending the arrangement into the 2040s.

Isramco holds a 28.75% stake in the 13.7 trillion cubic feet Tamar field, while Mubadala Energy owns 11%. Other Tamar partners, including operator Chevron with a 25% stake, Tamar Petroleum with 16.75%, Union Energy with 14.5% and Dor Gas with 4%, may eventually join the proposed agreement, though none has publicly confirmed participation.

Source: zawya.com