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Tel Aviv-listed gas company Delek Group and Texas-based Noble Energy announced on Sunday the completion of a $520 million deal to acquire the Eastern Mediterranean Gas Co. (EMG) gas pipeline. Egyptian partner the Egyptian Natural Gas Holding Company (EGAS) paid $150 million, while Delek and Noble covered the rest. The deal gives the three companies, incorporated jointly as EMED, a 39% stake in the pipeline and a way to import gas from Israel to Egypt.
Delek and Noble are the majority holders in Israeli natural gas fields Tamar and Leviathan. Read the full article here