Israel’s Ministry of Nationwide Infrastructures, Power and Water Assets has accepted the beginning of pure gasoline exports to Egypt through Jordan. This can be a new export route that has been accepted following the rising demand for Israeli pure gasoline in Egypt, which can improve gasoline exports to Egypt by greater than 50%.
Israel’s offshore pure gasoline reaches Jordan through a pipeline to the border close to Beit Shean and from there to Aqaba and onto Egypt.
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Israel presently exports 3 billion cubic meters (BCM) of gasoline yearly to Jordan beneath an settlement signed in 2016 with the Jordan Electrical Energy Co. At current 5 BCM of gasoline yearly can also be exported from Israel to Egypt through the previous EMG pipeline from Ashkelon to El Arish in Sinai and onto Egypt for home consumption.
In 2022, Israel is predicted to export an extra 2.5-3 BCM to Egypt through this new route and the quantity might rise to 4 BCM in subsequent years. The pure gasoline will start flowing from Israel to Egypt through Jordan later this month, thus considerably rising the quantity of gasoline that Israel exports to its neighbors.
The extra gasoline exports will earn the Israeli authorities extra tax revenues and royalties and generate an additional NIS 100 million annual income for the federal government owned gasoline transmission community Israel Pure Gasoline Traces.
The Ministry of Nationwide Infrastructures, Power and Water Assets stated that past the financial advantages, pure gasoline exports to the area strengthens geopolitical relations between Israel and neighboring nations, strengthens vitality safety of the nations within the area and results in a cleaner financial system within the Jap Mediterranean.
Printed by Globes, Israel enterprise information – en.globes.co.il – on February 16, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
