Israel to export gas to Egypt

ISRAEL became a major energy exporter for the first time yesterday after signing a permit to export natural gas to Egypt. The announcement comes just days before a lucrative Israeli gas field in the Mediterranean Sea is expected to go online.

Energy Minister Yuval Steinitz called the permit a “historic landmark” for Israel. He said it was the most significant economic co-operation project between the neighbouring countries since they signed a peace deal in 1979.

With the expected gas boon, Israel plans to wean itself off coal and potentially revolutionise its economy. The EU, seeking to reduce its dependence on Russian gas, has encouraged the formation of new delivery routes, including through the eastern Mediterranean. These routes could also curtail Iranian ambitions to use Syria as a gateway to the Mediterranean.

“The natural gas revolution turns us into an energy power and affords us not just huge income for the country but also a dramatic decrease in air pollution,” Steinitz said.

But Israel’s focus on its gas reserves over the past decade has faced stiff domestic criticism from environmental and social welfare activists. They say the government has been too generous toward the gas tycoons behind the exploration, and that the massive investment has steered resources away from renewable energy sources.

The Zohr gas field has been touted as the largest in the Mediterranean. |