While Israel, Greece, Cyprus and Italy are discussing the construction of a gas pipeline from Israel to Europe, the new organization positions Egypt as a regional energy hub.
Netanyahu's plan to piggy-back foreign policy aims on a Mediterranean regional gas pipeline must be carefully scrutinized, given the instability of the region.
Israeli gas exports to Egypt will gradually reach 7 billion cubic metres, the source said on condition of anonymity.
The order also prevents the third stage of Leviathan's operations from beginning, in which a poisonous amount of emissions would be emitted within a period of eight hours, according to the lawsuit.
The pipeline, in general, is already in good condition, but the Israeli and Egyptian gas companies found some missing and faulty components.
Israel has also been discussing an East Med pipeline linking Cyprus and Greece.
Within a short space of time, natural gas reserves on a scale of over 1,000 BCM were found in Israel’s economic waters alone.
The gas deal comes two years after Israeli agreements were signed to supply Jordan with gas from the Leviathan field.
This deal sends a message that openly doing business with Israel is something that is both acceptable and beneficial.
Of the $15 billion, the Israeli government should get around 50% of the revenues according to one private energy consultant.
JPOST Digital Library
