Oxford – East Mediterranean Gas: A Triangle of Interdependencies

In recent years, Israel has become a key player in the East Mediterranean gas industry, with its exports crucial for gas balances in Jordan and Egypt. However, the region is plagued by complex conflicts over boundaries, export agreements, and investment politics. The Israel-Gaza crisis in 2023 heightened geopolitical challenges, leading to temporary disruptions in gas exports to Egypt. Egypt, facing declining domestic gas supply and rising demand, now relies on imports from Israel to meet its needs. This has created a symbiotic relationship between the two countries, with Egypt being Israel's primary export market and Israel helping Egypt meet its domestic demand. Despite this opportunity, Israeli producers are wary of the market risks involved in exporting to Egypt. The future of the East Mediterranean gas industry remains uncertain, with ongoing conflicts and fluctuations in supply and demand.