A pipe to Egypt – makes a lot of sense. It’s just around the corner is also a giant offtake market, and has a couple of underused or unused LNG terminals sitting on the coast ready to deliver LNG to wherever you want. They just have to come to a commercial agreement. Extending the pipe towards Europe is a different proposition. Offshore pipelines are not cheap and the Mediterranean is pretty deep in the East which does not make things cheaper. Stick with LNG – it’s cheaper and much quicker.
Egypt and Israel said they may build an undersea natural-gas pipeline connecting the two countries, as they seek to collaborate on exporting the fuel to Europe.