Pressure in Cairo over threat to cancel gas deal – Egypt claims: Israel will lose more
In recent days, pressure has been felt in Egypt in light of implicit threats from Israel that it is considering whether to cancel the huge gas deal that was announced only last month.
The chairman of the Egyptian Information Authority, Dia Rashwan, called Israel's threats to cancel the gas export agreement from Israel "provocative" and warned Prime Minister Netanyahu: "He will cancel if he can bear the economic price." According to him, Egypt has alternatives and contingency plans.
However, the Arab press reported that Cairo is working to build a new gas pipeline worth about $400 million entirely on Egyptian territory, which will connect to the Israeli side via the Nitzana crossing and will allow it to absorb up to 130 billion cubic meters of additional gas from the Leviathan reservoir by 2040.