The growing gas trade between Israel and its southern neighbors in Egypt and Jordan over the past five years has been a radical geopolitical shift which shattered long-standing preconceptions given the traditionally frosty relations between the countries. The uncomfortable interdependence stands in marked contrast to the Gulf Cooperation Council (GCC), where cooperation over gas resources is in limited supply (MEES, 13 June).
This interdependence creates vulnerabilities, and disruption to the trade risks significant economic damage for all parties involved. The 12-day Israel-Iran war that broke out last month highlighted this vulnerability, when Israel halted exports to its neighbors at the very beginning of the conflict to safeguard against Iranian missile attacks, forcing Egypt and Jordan to take swift action to avoid blackouts. What the conflict has provided for the governments of those nations is not a paradigm shift, but a stern reminder that a lack of diversity could just as easily impact the supplier, the customer or both. (CONTINUED - 2911 WORDS)
