What does the gas find in Egypt mean for Israel?
The Leviathan gas field found in 2010 off Israel’s Mediterranean coast was the largest gas field in the Middle East. The planned export would potentially change the future of Israel’s foreign relations, especially with Turkey, Egypt, Jordan, and the Palestinians, thus allowing Israel to become an energy player in a region that was dominated by its neighbors.
Israel's cabinet has approved a deal w/ US-Israel consortium to move forward development of the Leviathan gas field pic.twitter.com/blW6qTVNrS
— MEES (@MeesEnergy) August 18, 2015
— Mona Sukkarieh (@MonaSukkarieh) August 27, 2015
Although the development of the Leviathan gas field has had its setbacks, the new find off Egypt’s coast by Eni SpA, called the Zohr gas field, has put a wrench in the plan altogether.
— Gulf Africa Review (@GulfAfrica) August 31, 2015
Eni Finds Largest Mediterranean Gas Field Ever Offshore Egypt http://t.co/09jkfPXOIR
— gCaptain (@gCaptain) August 30, 2015
Israel Gas Stocks Plunge as Egypt Find Casts Shadow on Leviathan http://t.co/cyZhkRBgBs
— Miroslav Georgiev (@mirogeorgiev97) August 31, 2015
The setback of the Leviathan development now faces challenges beyond the Knesset. What does this mean for Israel’s future relations with its neighbors? Only time will tell. But, this could potentially cause dramatic affects across the region.
Israel was already having trouble getting out of its own way to develop E Med gas. This won't help. http://t.co/B2LMD9MzNh
— Jason Bordoff (@JasonBordoff) August 30, 2015