Escalating instability in the Middle East, and likely within Egypt itself, may jeopardize LNG supply routes to Europe
Europe's energy security remains fragile, reliant on a complex web of international supply options. In recent years, the East Mediterranean region, particularly Egypt and Israel's offshore gas production, has emerged as a crucial focus for European companies aiming to diversify their natural gas sources. This region boasts significant offshore gas reserves, positioning it as a strategic supplier to European markets.
Rather than piping gas directly to Egypt via the EMG pipeline, it redirected supplies through the Arab Gas Pipeline, which transits Jordan. Energy industry sources cited in Reuters reported that 'the amount of gas exported from Israel's giant Leviathan field to Egypt has been slightly reduced as supplies to the domestic market are prioritized.' Egypt relies on natural gas for 75%-96% of its power production, while the remainder is supplied by fuel oil Mazut.
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