Egypt's gas paradox
Importing gas may seem counterintuitive, but a deal to do just that is part of the country's gas renaissance
Last year a private company, Dolphinus Holdings, signed a $15bn deal to buy Israeli gas. The 10-year contract will see the gas from offshore Israel — from the US' Noble Energy and Israel's Delek Drilling — sold for both domestic consumption and possibly for export via Egypt's two LNG plants, Damietta and Idku. The origins of the deal lie in the chaotic aftermath of Egypt's Arab Spring revolution, when gas production fell below ever-rising consumption. Prior to 2011, Egypt was a gas exporter, selling to Israel via the East Mediterranean Gas (EMG) pipeline. But in 2014, post-revolutionary chaos saw production fall. Prioritising the domestic market, Egypt ceased exports, with the two LNG plants
Also in this section
2 May 2025
Fast-tracking US project approvals and increased trade pressures have already changed the LNG landscape since Trump came to office, with further transformation ahead
2 May 2025
Peru’s state-owned hydrocarbons agency has launched the search for new investors for Offshore Block Z-69, a high-potential asset in the prolific Talara Basin.
2 May 2025
The scars of the Russia crisis have accelerated Europe’s push to wean itself off gas dependence as the growing globalisation of LNG becomes a double-edged sword
1 May 2025
The NOC’s dire financial situation and maturing fields have left the authorities with little choice but to reduce crude expectations
