Israeli gas supply to Egypt was cut off again on Sunday night as the war with Iran continues to intensify, two government sources overseeing the matter confirmed to The National on Monday.
Supplies had resumed on Thursday following a six-day halt since June 13 when Tel Aviv launched an attack on Iranian nuclear sites and killed top Iranian military officials and nuclear scientists.
Israel shut down two of its three gasfields on the day it attacked Iran. Israeli officials said this was a precautionary measure taken in anticipation of an Iranian retaliation, which came later the same day.
The enemies have been exchanging missile and drone strikes since then with large-scale infrastructure destruction and casualties reported on both sides. Gas supplies to Egypt and Jordan were halted and prioritised for local use in Israel, and on June 13 the Egyptian government forced fertiliser factories to halt production nationwide given the large amounts of natural gas they use.
The government said it was prioritising the energy requirements of power stations, especially because of the heavy use of fans and air conditioning units in Egypt in summer. Israeli gas supply to Egypt resumed on Thursday, though in much lower quantities, the two sources said.
This was because only gas coming from the Tamar field resumed. The larger Leviathan field was ordered shut by the Israeli energy ministry – Chevron, which runs the field, has ceased all production there since.
However, supplies to Egypt were halted again four days after resuming, the officials said, underscoring that the halt came after the US’s contentious intervention in the Israel-Iran war on Saturday, when it launched a series of air strikes on Iranian nuclear enrichment sites. The move has stoked fears of an intense Iranian response and a long, drawn out war in the region.
Before supplies were halted, Egypt was importing around 1 billion cubic feet per day from Israel, accounting for around 13 per cent of Cairo’s total daily consumption of around 7.5 billion cfd, of which around 3.8 billion is produced locally.
To counter the unexpected drop in supplies, Egypt made arrangements to use three floating regasification units, two in the Red Sea and one in the Mediterranean, according to one of the sources. These will receive shipments of liquefied natural gas, regasify it and then pump it through the national power grid.
The vessels were acquired late last year to help mitigate power cuts this summer by diversifying the country’s sources of energy, according to a speech on Saturday by Prime Minister Mostafa Madbouly in the Red Sea port city of Ain Sokhna.
Mr Madbouly was there to witness the first of the three additional regasification units being connected to the power grid. It is the second such unit operating in Egypt after one was put into service last year to help with energy shortages at the time. The other two are expected to enter service by next month, he said.
Each of the ships has the capacity to produce between 600 million and 750 million cfd, which would easily cover the drop in natural gas supplies from Israel, according to multiple officials, including the Prime Minister. One of the units was previously stationed in Aqaba, Jordan, under a 2024 agreement between Egypt and Jordan to optimise gas supply.
The agreement allowed Jordan to access Egypt’s floating storage and regasification units via the existing pipeline network between the two countries. The relocation of the unit to Ain Sokhna at Egypt’s request earlier this month means that Jordan will get its share of gas through pipelines from Egypt rather than through its own grid at Aqaba.
Jordan’s share of LNG under the deal is 350 million cubic feet per day, but it is now receiving about a third of that due to shortages, the officials said. Shipments of LNG have continued to arrive in Egypt, according to Mr Madbouly, and several are waiting to be unloaded on the floating regasification units.
A stopgap supply of LNG was provided to Egypt on short notice from Saudi Arabia’s national energy company Aramco. Additionally, some shipments were provided by commodity trader Trafigura, according to data collected by Mohammed Ragab, a financial analyst. He praised the government’s handling of the energy crisis this summer.
Cost-saving measures
In addition to the diversification of its sources of fuel, the Egyptian government has also introduced a number of cost-saving measures including shutting off street lights in residential neighbourhoods and closing government buildings by 8pm. Mosques and churches have been instructed to turn off their lights when prayers are finished and billboard lighting was also turned off, among other measures.
Despite these measures, power cuts have been reported in various rural provinces over the past week, according to one of the government officials who spoke to The National on the condition of anonymity. Mr Madbouly addressed the matter during a speech last week and said that this was due to maintenance work in preparation for the summer season.
However, the official said that “while the outages were not directly caused by natural gas shortages, the whole mechanism has been deeply disrupted by Israel cutting off gas so abruptly”. He added that “switching to different sources of fuel will require structural changes to the existing mechanism that might cause more power cuts down the line”.
As power cuts in Egypt look more likely amid the recent escalation between Iran, Israel and the US, there are growing fears in Cairo that a prolonged war might cause much deeper damage to its already vulnerable economy, particularly because of its heavy reliance on imports and investment. “Interbank data shows that large amounts of hot cash were withdrawn from Egyptian markets in the days following Israel’s attack on Iran,” Mr Ragab told The National.
“Though these numbers have started to rebound slightly, a prolonged war could very well result in the exit of larger amounts of cash invested in Egypt’s short debt markets which would cause a similarly disastrous inflationary wave as the one that took place in the wake of Russia’s invasion of Ukraine.”
As the region braces for the next phase of the Israel-Iran war, Egypt faces mounting challenges in safeguarding its energy security and economic stability. While government efforts to diversify energy sources and introduce cost-saving measures have provided some relief, the abrupt disruptions in Israeli gas supplies have exposed the fragility of its energy infrastructure.
Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
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Willian (13'), Ross Barkley (64')
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Read more about the coronavirus
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
US tops drug cost charts
The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.
Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.
In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.
Some of the costliest drugs worldwide include Lipitor for high cholesterol.
The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.
High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.
'Laal Kaptaan'
Director: Navdeep Singh
Stars: Saif Ali Khan, Manav Vij, Deepak Dobriyal, Zoya Hussain
Rating: 2/5
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Killing of Qassem Suleimani
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UAE currency: the story behind the money in your pockets
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Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
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1971: The Year The Music Changed Everything
Director: Asif Kapadia
4/5
TOUR DE FRANCE INFO
Dates: July 1-23
Distance: 3,540km
Stages: 21
Number of teams: 22
Number of riders: 198
UAE currency: the story behind the money in your pockets
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Mohammed bin Zayed Majlis
Killing of Qassem Suleimani
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
