Delek Drilling Company is seeking to acquire stakes in one of Egypt’s natural gas liquefaction plants in order to expand its export footprint, Bloomberg reported.
The Israeli energy explorer wants to buy parts of either Idku or Damietta liquefaction facilities as a part of its deal with Egypt to liquefy gas and export it to global markets, the company announced.
The company is further considering buying capacities in the two plants instead of acquiring equity stakes.
The Ministry of Petroleum representatives didn’t reply to Bloomberg’s request for commenting on the matter.
Delek Drilling had agreed in July to invest in the East Mediterranean Gas Company (EMG), the owner of the pipeline linking gas fields in Israel to Egyptian export terminals, Interfax Global Energy had previously reported. Delek, along with its Texas-based partner Noble Energy, had agreed to invest $200 million to buy a 37% stake in EMG.