Shell in Talks to Buy Israeli Gas

(Globes) Sonia Gorodeisky - Global energy giant Shell is in talks to buy gas from the Israeli Leviathan and Cypriot Aphrodite reservoirs in the Mediterranean in a $25 billion deal over ten years, Bloomberg reported on Thursday. Shell, which owns the EDCO natural gas liquefaction plant in Egypt, will then be able to liquefy the gas and sell it all over the world. "If a deal is signed, it will...remove any fear of excess supply of gas in the local market," an energy industry source said.

2018-03-12 00:00:00

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