Arab Finance: Isramco and UAE-based Mubadala Energy are planning a new long-term natural gas export agreement with an Egyptian counterpart for a potential $20 billion, according to a statement.
As per an Isramco filing to the Tel Aviv Stock Exchange (TASE) on July 16, the two companies signed a non-binding memorandum of understanding (MoU) with a foreign customer to supply 80 billion cubic meters (bcm) of natural gas from the Tamar offshore field over the 2031-2038 period. The agreement could extend into the 2040s.
Isramco holds a 28.75% stake in the 13.7 trillion cubic feet (tcf) Tamar gas field, while Mubadala Energy owns 11%.
