About Project

EMG owns a subsea pipeline of 26” diameter, 89 km long, of which 85.4 km subsea, 7-9 BCM capacity per year (“the Pipeline”)

LOCATION      : Running from El Arish, Egypt, to Ashkelon, Palestine

SERVICE           : Transaction Management

VALUE               : USD 580 million

CLIENT             : Metel Egypt Limited

TYPE                  : Oil & Gas

OVERVIEW

The Pipeline started operation and gas deliveries in May 2008, and ceased operation in 2012.

The El Arish-Ashkelon pipeline has a daily maximum capacity of around 12 million cubic meters, expected to increase further. During the Arab Spring, the Pipeline was attacked multiple times, and subsequently, the flow of gas was halted, and as a consequence, any exportation of gas by EMG ceased. At the beginning of 2020, it turned into one of the main energy supply sources for Egypt, receiving gas from Israeli offshore fields in Leviathan and Tamar.

Metel Egypt Limited attempted to acquire the 25% stake in the EMG, legally owned by the Thai energy company, PTT Energy Resources Co. Ltd., a 100% owned subsidiary of PTT Public Company Limited, and the 17% stake legally owned by Mediterranean Gas Pipeline Ltd.-British (MGPC), for a total 42% stake, (the Transaction).

In 2019, Kingston led the Transaction, through-out a preliminary deal, legal-financial-technical due diligence, a financing plan, and documentation.