Cairo denies new Israel gas deal
Egypt has categorically denied signing a new deal to import Israeli gas worth up to $20 billion. This comes amid reports of a non-binding memorandum of understanding between partners in the Tamar field and an undisclosed Egyptian entity, preparation for supplying gas from 2031 to 2038, with a possibility of extending until 2043. This denial occurs at a sensitive time, as reports link these understandings to political tensions following the war on Gaza, and as Egypt's reliance on energy imports increases to bridge the gap between production and consumption. The situation remains officially unclear, as no final agreements have been signed yet. Negotiations are contingent upon approval from other partners and the Israeli government. The memorandum remains non-binding and subject to amendments. This news clarifies that Egypt emphasizes any cooperation with Israel in the energy sector is purely commercial and does not reflect any political relations.
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