Egypt’s energy reliance on Israel
Israel’s largest gas field signed a record $35 billion export deal with neighboring Egypt, which, despite ambitions to become a regional gas hub, remains heavily reliant on energy imports.
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Israel featured repeatedly in business headlines this week as the world’s largest sovereign wealth fund divested from 11 Israeli companies amid rising public pressure over the nearly two-year-old Gaza war. Meanwhile, Israel’s largest gas field signed a record $35 billion export deal with neighboring Egypt, which, despite ambitions to become a regional gas hub, remains heavily reliant on energy imports to meet peak summer demand for air conditioning.
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