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Wednesday, 4 April 2018

Egypt is coming out on top in the regional scuffle over East Med gas

Egypt is coming out on top in the regional scramble for effective control of East Med gas: Egypt, Israel, and Cyprus’ recent gas findings and agreements have played out in Egypt’s favor and left Turkey out in the cold, Deutsche Welle says. Tension between Turkey and its neighbors in the region have made “the option of an Egyptian gas hub increasingly appealing,” especially with Egypt holding cards like the Zohr gas field, existing LNG liquefaction terminals, and a USD 15 bn gas import agreement with Israel in its hands. With Cyprus, Israel, and Greece also moving along with plans to construct a gas pipeline to Europe, a network of agreements appears to be solidifying “already existing relationships” between the four countries and further isolating Ankara.

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