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The companies developing Israel's largest natural gas fields and their Egyptian partner have finalized details of a deal that would give them control over a pipeline to Egypt, according to people familiar with the matter, a crucial step that would pave the way for a $15 billion export contract. The deal involves setting up joint venture companies in Cyprus and the Netherlands, through which Israel's Delek Drilling LP, U.S.-based Noble Energy Inc. and their Egyptian partner, East Gas, would buy a 37 percent stake in Eastern Mediterranean Gas Co., held by businessmen Sam Zell and Yosef Maiman, among others.r Delek and Noble are in the process of setting up a Cyprus-based joint venture.r Egypt's East Gas would set up a Netherlands-based company that would partner with the joint venture established by Delek and Noble.Under the contract signed in February, Delek and Noble are to export 64 billion cubic meters of natural gas over 10 years to Egypt through Dolphinus Holdings Ltd.
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