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Egyptian source denies new gas agreement with Israel
An official Egyptian source has denied reports of a new gas deal with Israel worth up to $20 billion, despite reports indicating the signing of a non-binding memorandum of understanding between Israel's "E servamco" and the UAE's "Mubadala Energy" with Egypt to export gas from the Tamar field. These reports estimate that approximately 80 billion cubic meters of gas could be exported over a period from 2031 to 2043, but neither the implementation nor a final agreement has been confirmed yet. It is worth noting that Egypt and Israel have previously signed several agreements for the export and import of gas, most notably a $35 billion deal from the Leviathan field in 2022. Despite regional tensions, cooperation between the two countries continues, as Egypt's gas imports from Israel increased by 30.5% in May 2023, reflecting the importance of energy cooperation between the two sides.
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