Since the start of the Russian-Ukrainian war in February 2022, the west has been trying to locate reliable sources of oil and gas to compensate for the missing Russian supplies, while Russia itself tried its most to prevent the west from achieving that. An additional and crucial factor in this new global system of the oil market, is that Russia and China are seeking to accelerate plans to build a unified energy network in the Arab world, which will give both Chins and Russia very strong upper hands in the region.
A crucial development has been the announcement of new oil and gas fields discoveries by western companies, including Chevron, which plans to start the first drills in the Red Sea region in the first half of 2024.
The discovery came after an extensive scan and collection of geophysical data by the company, with support from the US government to maintain Egypt’s role as an ally in the new world oil order.
Egypt is indeed crucial for multiple reasons, and has always played a pioneering nationalist Arabic role in the Arab world, and contributed to a sort of cultural, political, and economic collaboration in the Arab world.
China is very aware of that, has always sought, through its ally Iran, to attract Egypt to the concept of the unified electricity network, while Egypt has recently announced plans to transport gas inside Jordan with Egyptian expertise, while Iraw announced plans to export some crude as well to refineries in Jordan.
Even as efforts are ongoing to coordinate Arab electricity collaboration with Iranian and Chinese support, Chevron remains dominant in Egypt, and recently announced alongside Eni new gas field discoveries in Egypt , which are undergoing current analysis to gauge their output.
Egypt remains a new crucial ally to the western world, with the UK Shell company also announcing recently the development of the tenth phase in developing and extracting gas from 17 major Egyptian fields, in a yet another sign of strong western influence.