Special to WorldTribune.com

WASHINGTON — Egypt and Israel could form an energy partnership, a report said.

The Washington Institute for Near East Policy asserted that Egypt and Israel could launch a liquefied natural gas partnership to supply clients throughout Asia and the Mediterranean.

In a report, institute fellow Simon Henderson cited a Letter of Intent signed by a leading Egyptian LNG producer with an Israeli gas consortium.

“Selling gas as LNG, particularly to Asian markets, is highly profitable, especially if Israel can avoid the huge investment — at least
$5 billion — of building its own LNG plant,” the report, titled “Egypt Emerges As A Route for Israeli Natural Gas Exports,” said.

Henderson envisioned the prospect that Israel would pump offshore gas to Egypt for conversion to LNG. But he warned that Egypt, which canceled a gas supply contract in 2012, remained unstable, and that any deal with Israel could face another backlash.

  Egypt weigh LNG partnership with eye on Asian markets, Israel, liquefied natural gas, Washington Institute for Near East Policy