Context:

• Israel’s interest in controlling the Gaza Strip, including eliminating Hamas, is speculated to be linked to a long-discussed economic opportunity of the Ben Gurion Canal Project. 

What is the Ben Gurion Canal Project?

• The Ben Gurion Canal Project was first envisioned in the 1960s to create an alternative route to the Suez Canal, potentially enhancing economic prospects in the region. 
• Named after Israel’s founder, David Ben-Gurion.
• The estimated cost of the Ben Gurion Canal Project may exceed $100 billion.
• The idea is to cut a canal through the Israeli-controlled Negev Desert from the tip of the Gulf of Aqaba — the eastern arm of the Red Sea that juts into Israel’s southern tip and south-western Jordan — to the Eastern Mediterranean coast.

Suez Canal’s Historical Significance

• Opened in 1869, the Suez Canal transformed global maritime trade by connecting the Mediterranean and Red Seas.
• Significantly shortened the distance between Europe and Asia, reducing the voyage from London to Bombay by over 41%.
• In 2022-23, approximately 26,000 vessels, constituting around 13% of global shipping, crossed the Suez Canal.
• Critical to Egypt’s economy, generating a record $9.4 billion in toll revenues in 2022-23, contributing nearly 2% to Egypt’s GDP.

Challenges and Conflicts

• Traffic Bottleneck
  • Despite expansions, the 193 km-long Suez Canal remains a major shipping bottleneck, leading to congestion issues.
  • Notable incident: In March 2021, the Ever Given blockage caused an estimated daily loss of $9.6 billion in goods.
• Political Struggles
  • Egypt’s control over the canal has sparked conflicts for nearly 70 years.
  • In 1956, the Suez Crisis saw the UK, France, and Israel attack Egypt, ultimately resulting in Egypt retaining control.

News Source: The Indian Express