The Hormuz Crisis Is Reviving Egypt’s Gas Hub Ambitions

All the Hormuz chaos is giving Egypt another chance to become a gas hub. In the immediate term, Egypt is taking a hit, but the conflict is strengthening Cairo’s long-term East-Med gas position. Right now, the Iran conflict means that Egypt has an immediate supply problem. Israeli gas exports to Egypt were disrupted after the conflict escalated, removing roughly 1.1 billion cubic feet per day from the Egyptian market. And domestic output was already under pressure amid rising electricity demand. Cairo has been forced to increase LNG…