Cypriot Gas Could Ease Egypt’s Energy Crisis but Leave Reliance on Israel Intact Egypt is looking to Cyprus for relief from costly gas imports, but delayed projects, commercial disputes, and plans to expand Israeli supplies could keep the countries economically intertwined for years By Waseem Abu Mahadi / The Media Line [CAIRO] Egypt’s government has […]
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The Media Line: Cypriot Gas Could Ease Egypt’s Energy Crisis but Leave Reliance on Israel Intact
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Cypriot Gas Could Ease Egypt’s Energy Crisis but Leave Reliance on Israel Intact
Egypt is looking to Cyprus for relief from costly gas imports, but delayed projects, commercial disputes, and plans to expand Israeli supplies could keep the countries economically intertwined for years
By Waseem Abu Mahadi / The Media Line
[CAIRO] Egypt’s government has deepened cuts to natural gas supplies for fertilizer producers, increasing the reduction from 20% to 33% on November 8 as it struggles with the rising cost of imported liquefied natural gas (LNG). Cairo is looking to Cyprus for additional pipeline supplies, but the projects’ schedules and export commitments suggest that Israeli gas will remain essential to the Egyptian economy for years.
Misr Fertilizers Production Co. (MOPCO) disclosed the latest cut to the Egyptian Exchange on Sunday. Abu Qir Fertilizers said Monday that it was redistributing gas between production units to keep two of its three plants running at full capacity.