The billion-dollar UAE-Israel gas deal will go forward
Al JazeeraThe ongoing bombing of Gaza is unlikely to deter the UAE from investing big in its new ally’s gas fields. While the recent escalation in the Occupied Palestinian Territories and Israel’s ongoing bombing of the Gaza Strip are expected to significantly increase the political risks associated with investing in the Israeli oil and gas sector, they are unlikely to deter Mubadala from completing the landmark deal. Moreover, Israel is determined to complete the Mubadala deal at any cost, as it will increase other foreign investors’ interest in its oil and gas sector. But Mubadala’s April 2021 decision to buy Israeli company Delek Drilling LP’s 22 percent stake in the Tamar offshore field changed all this – and increased Israel’s chances of one day becoming a major player in the global energy trade significantly. First of all, Mubadala’s decision to invest in an Israeli gas field signalled to the leading IOCs that the geopolitical situation around Israel’s gas resources is becoming more favourable for investments, and increased Tel Aviv’s chances of securing lucrative deals in its next bidding round for exploration and development licences.
History of this topic
Eye on the Middle East | Challenges and opportunities in Delhi-Doha ties
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UAE names oil company chief to lead UN COP28 climate talks
Firstpost
Pakistan invests $305 mn to find crude, natural gas in UAE's Persian Gulf waters
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UAE wealth fund eyes $1BN gas deal as ties with Israel deepen
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