London—Dentons has advised independent oil and natural gas exploration and production company Noble Energy (and partners) on the pipeline project to support delivery of natural gas from the Leviathan and Tamar fields, offshore Israel, into Egypt.

Noble Energy and certain partners are acquiring an effective 39 per cent equity interest in Eastern Mediterranean Gas Company S.A.E., which owns the EMG Pipeline. The EMG Pipeline is an approximately 90-kilometre pipeline located primarily offshore, connecting the Israel pipeline network from Ashkelon to the Egyptian pipeline network near El Arish. Noble Energy will own an effective, indirect interest in the pipeline of approximately 10 per cent. In addition, and upon closing of the transaction, Noble Energy and partners will enter into an agreement to operate the pipeline, securing access to the pipeline’s full capacity.

Technical evaluation and flow reversal planning work on the EMG Pipeline is ongoing. Key conditions required prior to closing the agreements include gaining necessary regulatory and government approvals, obtaining technical third-party recertification of the EMG Pipeline, completing final transaction due diligence, and confirming sustained gas flow. Noble Energy's estimated acquisition costs are approximately US$200 million, payable at closing. The closing of all transactions is expected in early 2019.

The Dentons team advising Noble Energy was led by London-based Energy partner Humphrey Douglas and included teams across Dentons' London, Cairo and Amsterdam offices. In London, partners Dan Bodle, Christopher Thomson and Richard Barham, counsel Matthew Vinall, and senior associate Anna Tostevin advised; in Cairo, partner Michael Lacey, consultant Frederique Leger, and senior associate Ahmed Kamal advised; and in Amsterdam, counsel David Shearer, associate Gordon Tichelaar, and associate Vincent Wensink advised.

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