Talks are in progress to build a new underwater gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep, Israeli Energy Minister Yuval Steinitz said. Israeli gas stocks rose. Construction could begin as early as next year on the pipe to transport gas from Israel’s offshore Leviathan and Tamar fields to Egypt’s existing liquefied natural gas plants for processing and re-export, Steinitz said.
