Gas Deal Dilemma: Israel's Bold Move Freezes Major Agreement
Israeli Energy Minister Eli Cohen refused to sign a $35 billion gas deal with Egypt without securing Israeli interests, leading to the cancellation of a planned visit by US Energy Secretary Chris Wright. The move potentially strains relations with the US and Egypt amid efforts to export gas from the Leviathan field.
- Country:
- Israel
In a surprising move, Israeli Energy Minister Eli Cohen has rejected a $35 billion gas agreement with Egypt, a decision that led US Energy Secretary Chris Wright to cancel his planned visit to Israel.
Cohen insists on securing a fair price and protecting Israeli interests before signing the deal, according to a statement from his office. The decision has sparked political tensions, with US and Egyptian officials refraining from further comment.
The agreement, touted as the largest in Israel's history, would have seen gas exported from the Leviathan field to Egypt. Cohen's stance risks complicating Israel's diplomatic relations with two crucial regional allies.
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