The Bloomberg agency reported that the Israeli Delek Drilling company, controlled by the Israeli billionaire Yitzhak Chova, is thinking about buying a stake in an Egyptian gas factory to boost its status as an exporter company.
According to the company’s annual report on Sunday, the taking of a stake in the Edco or Damietta ‘s factories, which are under Shell and Union Fenosa, respectively, is among the different possible ways for the Egyptian deal.
Another option would be to buy the capacity of the manufacturers rather than stakes, or to get their services in liquefaction.
If Delek succeeds in completing the deal, it will serve as the strongest prove that Israel and Egypt are moving beyond the security cooperation towards deeper economic relations.
According to Bloomberg, there was no immediate comment from any representative of the Egyptian Ministry of Petroleum.
It is noteworthy that the Manufacturers have stopped working, since 2014.
#Egypt #Israel #Edco #Damietta #gas
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