(RT – Tamara Ryzhenkova)

Despite having the potential to diversify its energy sources, Egypt continues to rely on the unstable relationship with Israel for gas imports

This summer, news broke that Egypt had signed an unprecedented $35 billion gas agreement with Israel. The announcement was made on August 7 by Israeli company NewMed Energy (formerly known as Delek Drilling), which owns a 45.3% stake in the Leviathan gas field.

The new agreement involves the export of 130 billion cubic meters of natural gas to Egypt by 2040 or until all contracted volumes are fulfilled. The contract marks the largest energy deal ever signed between the two countries and represents the biggest export transaction in Israel’s history. It is expected to expand the existing export agreement by 60 billion cubic meters. The gas will be sourced from the Leviathan field, which holds approximately 600 billion cubic meters of natural gas.

Israeli Minister of Energy Eli Cohen confirmed the information. While the multibillion-dollar export deal was great news for Israel, Egypt had to publicly justify itself in connection with the country’s stance on the Gaza conflict. Cairo officially commented on the deal only a week later: on August 13, Egyptian Prime Minister Mostafa Madbouly stated that the contract reached with NewMed Energy is merely an extension of an agreement signed in 2019, emphasizing that it would not alter Egypt’s steadfast support for Palestine.

“There has been debate and confusion over the announcement about extending the agreement with NewMed Energy, the Leviathan field partner. This agreement with Egypt has been in place since 2019,” Madbouly said. He added that Israel intends to integrate its production into Egypt’s gas infrastructure, since Egypt is a regional energy hub.

According to Madbouly, Egypt is now not just a gas producer but also an international trading center for natural gas; the country possesses two liquefied natural gas facilities in Idku and Damietta.

For more, read https://www.rt.com/africa/627003-israel-egypt-gas-deal/

TBA News Opinion:

As Israel faces increasing international sanctions, Egypt is supporting the genocide on the Palestinian people by becoming the central hub for Zionist oil and gas, being sold under the flag of Egypt. It goes without saying that the involved bribes must be enormous.

In order to be consequent in the opposition to the genocide and the countless crimes against humanity, committed on a daily basis, the international community will have no other choice but the sanction Egypt.

Given that the Ummah of today departed from the teaching of the Quran and rests on the pillars of bribery and utter disregard for the wellbeing of any brothers and sisters, once again those sanctions will have to be issued by non-Islamic nations as Islam’s crisis, caused primarily by the Arab world, continues.