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| THE LEVIATHAN jacket.. (photo credit: ALBATROSS) |
MAAYAN JAFFE-HOFFMAN
Forty years on, Israel-Egypt energy cooperation opens the door to warmer relations
Is natural gas propelling us toward the future frontier of stronger Jerusalem-Cairo ties?
The energy cooperation deal signed between Israel and Egypt is the Jewish state’s first significant economic agreement with Egypt since the 1979 peace accord – and a dramatic step up in political and economic relations.
So said Amir Foster, head of strategy and research at the Association of Oil & Gas Exploration Industries, explaining that joint energy cooperation has already led to results in the field.
In September 2018, Noble Energy and Delek Drilling signed agreements to purchase a stake in the Eastern Mediterranean Gas Company pipeline to advance the export of gas to Egypt.
“This was not just ‘another deal,’ but a dramatic development that changes the existing situation, providing the physical infrastructure for realizing the gas export deal with Egypt signed in February 2018,” Foster said.
