Egypt: The Next Natural Gas Hotspot

The Eastern Mediterranean is becoming a major source of natural gas production, and Egypt is at the center of this emerging gas hub. In February, Noble Energy and its partners reached an agreement with the Egyptian company Dolphinus Holdings to sell gas from offshore Israel to Egypt, a deal that could jumpstart a much wider campaign to develop natural gas in the Eastern Mediterranean. The deal is politically risky for Egypt, where dealings with Israel have historically been taboo. Nevertheless, after years of halting progress, the agreement is bolstering the region's bid to transform itself into a sizable source of gas production, and potentially, exports.