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Egypt, Israel and the European Union on Wednesday signed an agreement to boost liquefied natural gas sales to EU countries, which aim to reduce dependence on gas supplies from Russia as the war in Ukraine enters its month of fourth.
The deal, signed at a five-star hotel in Cairo, means Israel will send more gas through Egypt, which has the logistics to turn it into a liquid state and then export it by sea.
European Commission President Ursula von der Leyen said the memorandum of understanding on gas (MoU) signed in Cairo with Egypt and Israel was a “historic agreement”.
Among other things, Von der Leyen stressed that “we are building an infrastructure” which must be ready for the “transport of clean energy of tomorrow”, namely hydrogen.
Last year, the European Union imported about 40 percent of its gas from Russia, and because of this there have been difficulties in imposing sanctions on Russia for its occupation of Ukraine.
Israeli Energy Minister Karin Elharrar said the deal was the result of Russian occupation of Ukraine, which sparked an energy crisis across Europe. She also said that this emphasizes the increase of cooperation between Egypt and Israel, two countries that have had animosity between them
“This is a statement to those who see in our region only negative forces such as disruption and conflict,” she said. “This Memorandum of Understanding shows us that we are opening a new path of partnership, solidarity and sustainability.”
Egyptian Oil Minister Tarek al-Molla described the agreement as “an important milestone” in co-operation between Egypt, Israel and the EU. He said this would lead to further co-operation between members of the Eastern Mediterranean Gas Forum, which includes Jordan, Israel, Cyprus, Greece, Egypt, the Palestinian Authority, France and Italy.
Egypt was the first Arab country to make peace with Israel in 1979, but economic deals have been controversial in the Arab world’s most populous country, where popular support for Palestinians is high. Relations between the two countries have warmed steadily in recent years.
Under the agreement, Israeli gas will be transported via a pipeline to Egypt’s LNG terminal in the Mediterranean before being transported by tanker to European shores, the Israeli Energy Minister said.
Israel has two operational gas fields off its Mediterranean coast containing about 690 billion cubic meters of combined natural gas, and a third offshore platform is under construction. Israel has already signed gas export agreements with neighboring Egypt and Jordan.
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