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.