Egypt’s Evolving Alliance with Israel

Source: Carnegie Endowment

Author(s): Maged Mandour

Original Link:

On February 19, the private Egyptian firm Dolphinus Holdings announced a deal to import $15 billion worth of natural gas from Israel over a period of ten years. This firm is one of the first to take advantage of a new natural gas law passed in August 2017 that ended the state’s monopoly on storing and trading natural gas using the national grid, part of a series of reforms aimed at addressing Egypt’s persistent natural gas shortage. Although rumors spread that the imported gas might be possibly re-exported to Europe in order to accumulate foreign currency reserves instead, the agreement to import from Israel is also indicative of nascent economic ties between the two neighbors. Egypt’s changing relationship with Israel will have direct implications on Cairo’s ability to play its traditional role as a mediator in the Palestinian peace process…

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