The Arish-Ashkelon pipeline from Egypt to Israel is, perhaps apart from domestic subsidies, the most controversial element of the country’s energy sector, with many Egyptians angry about selling a precious resource to a country whose policies they oppose.
As a net importer of oil as well as a producer, Egypt is sensitive to the ups and downs of the global crude market. This is especially true given that the government heavily subsidies the price of petrol. And, to the extent that native oil is sold on the local market, producers are compensated based on prevailing world prices. In an era when oil...
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