Egypt's gas imports from Israel hit all-time high
Gas flows hit a new record in the first quarter of the year and peaked in March, when Cairo purchased above contractual volumes.
In a further sign of deepening relations in the energy sector, Egypt recorded in March a new record in gas imports from Israel, which in turn boosted their first quarter flows to an all-time high. The record goes in line with Cairo’s efforts to become a regional hub for gas trade as well as Tel Aviv’s plans to take advantage of its thirst for gas to increase exports. But it remains to be seen to what extent the flow can continue to increase rapidly.
According to recent data from the weekly newsletter the Middle East Economic Survey, Egypt imported in March 720 million cubic feet per day from Israel, equivalent to over 20 million cubic meters per day. This figure raised average first-quarter imports to a record 554 million cubic feet per day, or around 15.6 million cubic meters per day. And in turn, Egypt accounted for an all-time high 26.5% of Israel’s gas output during the same period, MEES reported.
