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Vol 53 No 10

Published 11th May 2012


Egypt

Israel and the energy crisis

Cairo’s cancellation of gas exports to Israel owe more to commerical interests than ideological conviction

The state-owned Egyptian Natural Gas Holding Company (Egas) had plenty of reasons to end the gas export deal with Israel’s East Mediterranean Gas (EMG) and the Cairo government had good reasons to allow it. The underlying motive for the cancellation of the contract on 22 April is the better prices that Egypt can command on the world market and the need to fuel growing domestic demand.

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