Egyptian experts talked about the consequences of the failure of the Eastern Mediterranean gas pipeline, which is designed to connect Israeli gas fields with Europe, passing through Cyprus and Greece, by liquefaction in Egypt.
Egyptian economist Ali al-Idrisi said in a statement to RT that “every country is trying to recalculate it in such a way that it guarantees it the maximum possible gain, and this is definitely an attempt to see economic feasibility, since the gas passes through Egypt and then goes to Europe, but over time it seems that there are alternatives.” Others, the economic feasibility of which may be greater, and at the same time the political aspect is reflected many times in the economic aspect, and the former political leadership in Cyprus may have had good relations with the Egyptian side, so this was an obvious part of the agreement reached, and was also evident during the previous administration in other matters related to the division of borders and other such matters.
And the Egyptian economist continued: “It was clear that the political leadership of Egypt was in complete agreement with Cyprus, Greece and other countries, which formed a very large alliance on many issues, including the division of borders, but with the new administration, he began to see other alternatives providing greater economic feasibility. This, of course, deprives Egypt of a great opportunity to benefit from liquefaction projects that could be completed in the coming period, but on the other hand, the Egyptian economy and the Egyptian administration have benefited from gas, and of course there are alternative agreements for many European countries, as Egyptian gas continued to generate interest from other countries to benefit from it.
For his part, Ain Shams University economics professor Dr. Yomna Al-Hamaki said in RT statements that
“The suspension of the project confirms that Egypt is on the right track as Egypt wants to become a regional center for gas production, liquefaction and export, and it must strengthen its capacity to achieve this goal by building relations with countries, and Egypt must have coordination and cooperation with main countries.
She explained that cooperation with Algeria is currently very important and much better than cooperation with Israel, explaining that trust in Arab countries is much better than dealing with Israel, emphasizing that there is a peace agreement between Egypt and Israel, and it it was supposed to deal as with a regional country in the form of an exchange of interests, nothing more.
Al-Hamaki stressed that there is no trust in the Israeli side at all, and there are other Western countries that do not trust Tel Aviv in their relations with it.
She said that Israel should be treated as if it was planning to destroy Egypt, and that certainly exists because it is working to stop everything that is in Egypt’s interests.
The Egyptian expert noted that the European-Egyptian partnership agreement did not work as it should, and therefore it is necessary to explore all the framework and means of activating this agreement, including seeing the needs of the European continent and trying to meet them. in this context, the story of the management of energy resources and the transformation of Egypt into a regional energy trading center takes place.
Source: RT
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