EU signs deal with Israel and Egypt on export of natural gas to Europe
The European Union signed on June 15 a trilateral memorandum of understanding with Israel and Egypt for the export of natural gas to Europe, the European Commission said.
In light of the new geopolitical and energy market reality after the Russian invasion of Ukraine and in line with the REPowerEU plan, the EU and Egypt will accelerate and intensify their energy partnership, the Commission said.
The memorandum was signed in Cairo by European Commissioner for Energy Kadri Simson, the State of Israel’s Energy Minister Karine Elharrar and Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla.
The three parties will work together on the stable delivery of natural gas, in a way that is consistent with long-term decarbonisation objectives and based on market-oriented pricing, the statement said.
Natural gas from Israel, Egypt and other sources in the Eastern Mediterranean region will be shipped to Europe via Egypt’s LNG export infrastructure.
The parties will promote the reduction of methane leakage, and in particular examine new technologies for reducing venting and flaring and explore possibilities for the utilisation of captured methane throughout the entire supply chain, the statement said.
They will also endeavour to ensure that future investments will not cause pollution of the marine or land environment, according to the statement.
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