(Image courtesy of BG Egypt)

Israel’s Leviathan natural gas field partners said on Sunday they signed a non-binding letter of intent with BG Group to export gas to BG’s LNG plant in Idku, Egypt.

The parties are holding talks to reach a deal under which Leviathan will supply 7 billion cubic meters annually for 15 years.

Delivery would take place via an underwater pipeline, the partners said in a statement.

The estimated value of the deal is $30 billion.

The final agreement is expected to be completed by the end 2014.


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