Egypt Saw Gas Trade with Israel Soar in 2023

Egypt is experiencing an economic upswing after building an 'isolated security zone'

Israel’s NewMed Energy reported on 19 March that natural gas exports from the Leviathan field to Egypt increased by 28 percent in 2023.

The company reports that the exports jumped from 4.9 billion cubic meters (BCM) in 2022 to 6.3 BCM in 2023.

Israel Katz, former energy minister, approved the increase in exports to Egypt last year. For 2026, he projected an annual production increase of six BCM – about 60 percent over the current volume. “3.5 BCM of which will be directed in favor of Egypt,” the report read.

“The expansion of the total export quota to Egypt was increased by 38.7 BCM over 11 years,” the Israeli Ministry of Energy’s August announcement read. “The export permit was granted under the comprehensive framework approved by government decisions … and in consultation with the Director of the Natural Gas Authority. In addition, an additional increase of 0.5 BCM per year is being considered.”

The ministry noted that, in addition to enabling production expansion, the new exports are expected to derive billions of dollars in bonus revenues for Israel, increase energetic ties with Egypt and other regional players, and strengthen Israel’s geopolitical status....

Egypt–Israel tensions have been on the rise in recent months over Tel Aviv's plan to push Gazans into the Sinai Peninsula to continue with their plan of invading Rafah.

Cairo has called on Washington, which has previously condemned the plan, to send a clear message to its regional ally not to move forward with the Rafah invasion. It says that “it is not enough to state opposition; it is also important to indicate what if that position is circumvented, what if that position is not respected.”

However, following multiple investment deals into Egypt by other regional allies of Israel and a boost in the International Monetary Fund (IMF) loan to be granted to Egypt, the North African nation is constructing an “isolated security zone,” something which local rights groups are calling Cairo's preparation for an influx of Palestinian refugees.

🔗Source: The Cradle

Related: 2/18 — Egypt Building Walled Camp in Sinai Desert to Absorb Palestinian Refugees from Gaza

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11/4 — Iraqis Warn of Western Plan to Move Gazans to Anbar Desert

10/29 — Leaked: Israeli Plan to Ethnically Cleanse Gaza

The plan advocates the forced transfer of the population of the Gaza Strip to Sinai permanently, and calls for the international community to be leveraged to assist the move

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