Noble Energy Closes on Acquisition of Interest in the Eastern Mediterranean Gas (EMG) Pipeline
Retrieved on:
Wednesday, November 6, 2019
Noble Energy, Inc. (NYSE: NBL) (Noble Energy or the Company) announced today that the Company and its partners have closed on the acquisition of a 39 percent equity interest in the Eastern Mediterranean Gas Company S.A.E.
Key Points:
- Noble Energy, Inc. (NYSE: NBL) (Noble Energy or the Company) announced today that the Company and its partners have closed on the acquisition of a 39 percent equity interest in the Eastern Mediterranean Gas Company S.A.E.
- The pipeline will be used to transport natural gas volumes into Egypt under the Companys gas supply agreements with Dolphinus Holdings (Dolphinus).
- Noble Energys net acquisition investment in the EMG Pipeline totaled $185 million, and the Companys effective interest in the pipeline is 10 percent.
- The EMG Pipeline is a 90-kilometer pipeline, located primarily offshore, that serves as a connection between the Israeli pipeline network and the Egyptian pipeline network.