Egypt, Israel, oil and gas
Egypt, along with all the surrounding Arab nations, attacked Israel in 1967. Israel’s overwhelming victory gave her control of the Sinai peninsula. Israel then developed oil and gas fields until 1978. In 1978, Sinai and these oil and gas assets were turned over to Egypt as a part of the peace treaty with Egypt.
Today, Sinai instability remains a hurdle for Egypt’s energy recovery. Egypt is even looking to import gas from Israel.
This news brief about energy in Israel is provided to you by Zion Oil & Gas, Inc.
Zion Oil & Gas explores for oil and gas onshore Israel currently only within Zion’s Megiddo-Jezreel license area.