Egypt’s East Mediterranean Gas Co. (EMG) has increased the flow of gas to the Israel Electric Corporation (IEC) to 1.5-1.6 billion cubic meters of gas per year.
According to the new agreement signed with the Egyptian government, this amount is to increase to 1.7 billion cubic meters.
Joseph Maiman owns 20% of EMG through Ampal-American Israel Corporation and his private company Merhav MNF Ltd., and Israeli institutional investors own 4.4 percent.
The increase in flow represents a strong indication of EMG’s renewed commitment to Israel. This renewed commitment comes against the background of the finds in the Dalit and Tamar wells, which could be producing gas by 2012.