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
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
