Egypt's gas paradox
Importing gas may seem counterintuitive, but a deal to do just that is part of the country's gas renaissance
Last year a private company, Dolphinus Holdings, signed a $15bn deal to buy Israeli gas. The 10-year contract will see the gas from offshore Israel — from the US' Noble Energy and Israel's Delek Drilling — sold for both domestic consumption and possibly for export via Egypt's two LNG plants, Damietta and Idku. The origins of the deal lie in the chaotic aftermath of Egypt's Arab Spring revolution, when gas production fell below ever-rising consumption. Prior to 2011, Egypt was a gas exporter, selling to Israel via the East Mediterranean Gas (EMG) pipeline. But in 2014, post-revolutionary chaos saw production fall. Prioritising the domestic market, Egypt ceased exports, with the two LNG plants
Also in this section
8 December 2025
The Caribbean country’s role in the global oil market is significantly diminished, but disruptions caused by outright conflict would still have implications for US Gulf Coast refineries
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
