Egypt – European Neighbourhood Monitor

Israel approves expansion of Leviathan gas production for exports to Egypt

The Israeli government has approved a plan to expand natural gas production at the Leviathan field in the eastern Mediterranean, enabling a significant increase in gas exports to Egypt over the coming decades. Leviathan, Israel’s largest offshore gas field, is operated by a consortium led by Chevron, alongside NewMed Energy and Ratio Energies. The newly […]

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“The end of the EastMed pipeline?”

Middle East / ENM

Francesco Sassi, a Research Fellow Energy Geopolitics & Markets at Ricerche Industriali ed Energetiche in Bologna, discusses how Cyprus has announced the plan for linking its major gas reservoirs to Israel’s east Mediterranean gas fields. He comments: “It seems both Israeli PM Netanyahu and Cypriot President Nikos Christodoulides back the project, talks are to start

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UAE and Egypt agree to build one of the world’s largest onshore wind farms in Egypt

Middle East / ENM

Writing on the website of specialised think tank Gulf Cooperation Council (GCC), researchers Arnold Koka and Veronica Stigliani discuss how the UAE and Egypt have agreed to build one of the world’s largest onshore wind farms in Egypt, noting: “The deal was inked by the Emirati renewable energy firm, Masdar, and Egypt’s renewable energy companies,

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Egypt obtains 3 billion USD loan from IMF

Africa, Middle East / ENM

A new 3 billion USD loan has been agreed between the International Monetary Fund and Egypt, Reuters reports. The so-called “Extended Fund Facility (EFF)” will run over 46 months and is supposed to provide “durable exchange rate flexibility”, with Egypt promising to boost social protection with the funds. Wheat and oil price increases due to

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“Agreement to develop Gaza’s offshore natural gas field”

Middle East / ENM

Earlier this month, a deal was agreed to develop Gaza’s offshore natural gas field, Reuters reports. The deal signifies a boost for the economy of the Palestinians living in Gaza. The Gaza Marine field is around 20 miles removed from the Gaza coast. Israel’s blockage has restricted its development, even if until 2018, the project

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Egypt increases rates to pass through the Suez Canal

Middle East / ENM

By Pieter Cleppe In a suprising move, Egypt has decided to raise Suez Canal rates from 1 January 2023 on. There will be a 15% increase for most vessels and a 10% increase for dry bulk ships and cruise ships. The government of Egypt expects annual revenues to rise by $700 million, after this rate

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As the West turns away from Russia, the East Med emerges as a potential hub for LNG

Middle East / ENM

By Pieter Cleppe US energy giant Chevron considers the East Mediterranean as a key growth opportunity for its LNG business, along with US LNG gas, S&P Global Commodity Insights reports. The company told S&P Global Commodity Insights: “Our global footprint has changed, and we’re trying to enable some of that supply to Europe where it

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EU looks at Israel and Egypt to reduce dependence on Russian energy

Middle East / ENM

In order to deal with the energy crisis, the European Commission is looking at Egypt and Israel to increase import of natural gas. It is proposing this to EU member states in a memorandum of understanding. According to a draft obtained by Reuters, the Commission states: “The natural gas to be shipped to the European Union

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