2011 a huge diplomatic issue between Israel and Egypt after a gas pipline was destroyed by isis militants in Sinai, International Commercial Court awarded 15 billion dollars as Israel won the case which Egypt has to pay for and in the time Egypt only had 9 Billion dollars in its central bank. YEars pass and sisi takes control. between 2016 and 2020 agreements were signed listing Egypt would import ISraeli gas ata price of 3$/MMBtu 2 dollars for the gas 1 dollar for the court fee basically bought for above the international price for 15 years ahead. deal was active in 2020 this also prompted the acceptance of ISrael for quadrupling forces placed in sinai as part of the deal and not the reason the Israeli article which you use gave which isnt logical considering the number of volations on the old deal in 1979 which directly threatens ISrael's ational security.
Russia invades ukraine gas prices jump 5 times to reach 8-10$/MMBtu on average 9 and ISrael is obliged to to sell its gas to Egypt at 3$/MMBtu as per the agreement for 15 years. Not only is Egypt holding a leach on ISrael's economy but has relocated its forces on sinai on its terms. And it really explains the nature of today's diplomatic relations between the two states. What happened in Europe due to the war will happen to ISrael if there is any war between the two in the future. ISrael had tried to break away by selling its gas to turkey and greece through pipelines but was presented by the sheer cost of the project and Egypt presented a better deal to keep ISrael in bay.
Gas flows hit a new record in the first quarter of the year and peaked in March, when Cairo purchased above contractual volumes.
www.al-monitor.com
The Economist Intelligence Unit
country.eiu.com
US natural gas futures were trading below $2.5/MMBtu, the lowest level since April 2021, after recent forecasts pointed to above-normal temperatures until at least February 18th. Natural gas prices declined more than 63% in the last 7 weeks, as the demand for heating remained subdued. The...
tradingeconomics.com
Israel and Egypt will aim to boost natural gas exports to Europe under a memorandum of understanding (MoU) signed on Wednesday as the continent looks to replace Russian energy imports.
www.reuters.com
What really matters to these people is money and their greed got them in a jail