Egypt’s decision to stop supply of natural gaz to Israel raises concern

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Flag of Egypt

Israel has voiced concern over the Egyptian government’s decision to stop the supply of natural gas to the Jewish state. Israeli officials have reported that companies are struggling to supply all their clients since Egypt made the move earlier this month in the face of mounting criticism from opposition groups. According to reports, Israel’s energy companies have been forced to cut back since Egypt halted natural gas supply to the country. In Egypt, the government said it chose to cut back its exportation of natural gas in order to supply energy to its citizens, who pay low prices for the product. Israel receives Egyptian natural gas through an Egyptian-Israeli consortium, EMG . The Israel Electric Corporation (IEC), in order to maintain its supply to customers, has begun purchasing larger amounts from Tethys Sea group in spot deals that are much more expensive than the Egyptian natural gas. The result will most certainly mean higher electricity bills for Israelis as IEC attempts to cover the higher costs. Cairo had been receiving voiced criticism from opposition groups in the country, namely the Muslim Brotherhood, which said that Egypt should not continue supplying Israel with natural gas while an economic blockade against the Gaza Strip was still in force.

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