Home Business In numbers… a significant increase in Israeli gas exports to Egypt

In numbers… a significant increase in Israeli gas exports to Egypt

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The Israeli economic newspaper Calcalist, affiliated with Haaretz, has published shocking data on Israeli gas exports to Egypt.

The Israeli economic newspaper reported that exports to Egypt increased by 25% in the third quarter of the current 2022, net profit rose to $45 million, revenue increased by 30% to $106 million in the first nine months of 2022, and profit rose to $119 . million dollars, which is 95% more than in the first three quarters of 2021.

The Jewish newspaper added that Israeli gas exports began to bear fruit after Leviathan’s increase in gas exports since last year, with Israeli company Ratio Energy, which owns 15% of the Leviathan gas field reservoir, reaching 460%. % jump in net income in the third quarter of 2022 ($45 million).

An Israeli newspaper reported that the increase in profits came as a result of a 6% increase in production in the third quarter to 3.02 billion cubic meters and an increase in exports to Egypt by 25% to 1.14 billion cubic meters.

The newspaper added that in the first nine months of 2022, profits rose to $119 million, up 95% from the first three quarters of 2021.

She pointed out that due to the fact that export prices are higher than prices in the domestic market (apart from the increase in natural gas prices compared to last year after the start of the war in Ukraine), the average price received by the Levthan Partnership per Unit of MMCF in the third quarter was worth 6 $.5, up 22% year-over-year, while in the first nine months of 2022, Leviathan’s average unit price of MCF natural gas was $6.2.

Source: Calcalist

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