Noble and Delek are looking at acquiring a stake in the Egypt to Israel EMG pipeline, in an attempt to reverse flows and facilitate their own gas sales deals to Egypt.  Both the pipeline and gas deals appear problematic.

Israeli firm Delek will hold an extraordinary shareholders meeting on 1 July to hold a vote on whether to forgo a $200mn dividend payment in order to pay its share of a proposed 37% buy-in of the currently unused East Mediterranean Gas (EMG) pipeline.

Delek partners...