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Egypt considering importing natural gas from Israel

The flag of Egypt. Credit: Wikimedia Commons.

The flag of Egypt. Credit: Wikimedia Commons.

( Egyptian Minister of Petroleum Sherif Ismail said that Egypt is considering importing natural gas from Israel to alleviate its shortage of the resource.

“Anything can happen. Whatever achieves the best interests of Egypt, and of the Egyptian economy and the role of Egypt in the region… that will determine the decision to import gas from Israel,” Ismail told the state-owned Al Mussawar magazine, Reuters reported.

Private companies are reportedly already negotiating to bring Israeli gas to Egypt, but any agreement will need to be approved on the government level.

Despite the fact that Israel and Egypt signed a peace treaty in 1979, many in Egypt’s government and society still view the Jewish state with distrust. But in recent years, the two countries have found themselves increasingly working together against terrorism in Egypt’s Sinai Peninsula, which borders southern Israel.

The Israeli company Delek Drilling has estimated that if an agreement is signed, gas can begin flowing from Israel to Egypt in 2017.

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Posted by on January 21, 2015. Filed under Breaking News,Israeli News,Slider,World News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.