Israeli firm to buy natural gas from Egypt

Dec 11, 2006 01:00 AM

Israeli Dorad Energy said it had signed a deal worth up to $ 2 bn to buy natural gas from Egypt.
A Dorad spokesman said the contract is for 15 to 20 years for the supply of as much as 1.2 bn cm a year of natural gas starting in 2008 and includes a number of options.

The price for the gas will fluctuate due to market conditions, he said.
The gas will be transported through a pipeline -- to be completed in 2008 -- from the northern Sinai to the coastal city of Ashkelon, where Dorad is building Israel's first private power plant, which will begin operating in 2010.

Source: Neftegaz.ru
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