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Israel to begin exporting gas to Egypt next month

In just a few weeks, Egypt should be receiving natural gas from Israel's Leviathan field.
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CAIRO — Egypt will soon start working off a debt to Israel by importing Israeli natural gas.

Egypt had faced a $1.76 billion settlement awarded to state-owned Israel Electric Corporation (IEC) in 2015 because Egyptian companies for years had been unable to fulfill a long-term contract to supply IEC with natural gas at a fixed rate. To reduce that settlement to $500 million, Egypt is reversing the flow, so to speak, and will buy gas from Israel.

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