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Acquiring a piece of either the Idku or Damietta facilities, operated by Royal Dutch Shell Plc and Spain’s Union Fenosa SA, respectively, is among the various routes possible for the Egyptian deal, the company said in its annual report on Sunday. Should Delek pull off the purchase, it would be the strongest signal yet that Israel and Egypt are moving beyond security cooperation and toward deeper economic ties. President Abdel Fattah El-Sisi didn’t even mention Israel when he celebrated a $15 billion deal in 2018 between the nations.

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