EU wants Egyptian gas from Israel In negotiations with Egypt, the EU may purchase natural gas from Israel. It’s possible that in the near future, EU countries that want to lessen their dependency on Russian gas as a result of the conflict in Ukraine will be able to get supply from Israel instead.
EU wants Egyptian gas from Israel
At an energy conference held in Cairo on Wednesday, representatives from the EU, Israel, and Egypt inked a provisional agreement regarding the sale of natural gas.
It is anticipated that the Israeli gas will be delivered to liquefaction plants in Egypt, where it will be stored before being transported further north to markets in Europe.
For the first time, large exports of Israeli gas are going to be allowed to go to Europe, according to Israel’s Ministry of Energy.
According to the ministry, the framework agreement will also allow the European Union to promote European companies to participate in exploration tenders held in Israel and Egypt.
According to the officials, the contract would most likely result in an increase in the exports of liquefied natural gas (LNG) to Europe; however, it would most likely take a couple of years before the shipments could be enlarged.
The European Union (EU) purchased around forty percent of its gas from Russia in the previous year, and it is anticipated that the EU would continue to be a significant consumer of gas until about the year 2030.
After that, it will work toward reducing its overall gas use with the objective of reaching zero emissions status by the year 2050.
Karine Elharrar, who serves as Israel’s Minister of Energy, Tarek El Molla, who serves as Egypt’s Minister of Petroleum, and Kadri Simson, who serves as the Energy Commissioner for the European Union, all put their signatures on the memorandum of understanding.
After the meeting, Ms. Elharrar stated that Egypt and Israel had made a commitment to share their natural gas with Europe and to assist with the crisis in the energy sector.
Ursula von der Leyen, President of the European Commission, was present and referred to it as “a huge stride forward in the energy supply to Europe.” Ursula von der Leyen was also present.
“I see it as a first step leading to a Mediterranean-wide agreement because I see that the energy supplies, [which] were traditionally mostly in the northern part, are now shifting towards the global south and east,” she added. “I see it as a first step leading to a Mediterranean-wide agreement because I see that the energy supplies were mostly traditionally in the northern part.”