How Egypt Will Gain from the Gas Deal with Israel

(Arab News-Saudi Arabia) Abdellatif El-Menawy - Egypt is the only country in the eastern Mediterranean that has the infrastructure for liquefying natural gas, with two of the world's largest liquefaction plants: SEGAS and Egyptian LNG, which were established 15 years ago at a cost of $3.2 billion but are now lying idle. The Egyptian company Dolphinus Holdings is to purchase $15 billion of Israeli gas over 10 years, to be delivered to the liquefaction stations in Damietta and Edco. The Egyptian company will then export the liquefied Israeli gas to Europe. What will happen with the Israeli gas will also happen with Cypriot, Greek and Lebanese gas. Consequently, Egypt will be the main center for the export of gas to Europe. In addition to the expected profit from the deal, the gas will allow Egypt to establish new projects in the field of petrochemicals. It is now incumbent on Egypt to deal with this agreement as a direct Egyptian interest that constitutes a purely non-political trade agreement.

2018-02-28 00:00:00

Full Article


Visit the Daily Alert Archive