Despite sitting on the massive Zohr gas filed, Egypt's decision to import natural gas from Israel has raised many questions
Egypt-Israeli cooperation got a major boost this month as the Jewish state began exporting natural gas to its Arab neighbour in a sharp reversal of roles.
It also involves a host of shadow companies registered in tax havens that are linked with Egypt’s dreaded military intelligence. In 2003, Egypt began exporting gas to Jordan via the 1,200 kilometre-long Arab Gas Pipeline. Later, the pipeline was extended to Israel. This latter 100km-long subsea section connects Ashkelon in Israel to Arish in Egypt.
Israel’s power companies and the operator of the Arish-Ashkelon pipeline took Egypt to international arbitration courts for reneging on the contract. “A 50 percent stake in EMED is owned by Sphinx. And you know Sphinx is a front company of East Gas, which is in turn owned by Egyptian General Intelligence.”
Israel, a new player in the gas market, doesn’t have LNG liquefaction terminals. Now it aims to use Egypt’s LNG terminals in Idku and Damietta.
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