Egypt to triple Israeli gas imports as regional tensions ease

2 comments

1. Despite high tensions, Egypt will triple gas imports from Israel.

   >According to the EGAS official, the Israeli-Egyptian energy deal includes a ramp-up in supply from the offshore Tamar and Leviathan gas fields to reach 1 billion cubic feet per day in the coming period. Around 80% of that gas will be allocated to restarting fertilizer and petrochemical factories that shut down on June 13 due to the shortage.

   Another interesting fact is that 10% of the Tamar gas field has been lately sold to Azerbaijan, showing further how the 2 states are getting closer.

2. Good news. Economic cooperation is a good way to ease tension.

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