Egypt and Israel signed a deal with the European Union (EU) for exporting liquefied natural gas (LNG) to Europe.
The LNG exports will be done under the umbrella of the East Mediterranean Gas Forum.
Egyptian petroleum minister Tarek Al Molla, Israeli energy minister Karine Elharrar, and EU Energy Commissioner Kadri Simson signed a declaration of intent in Cairo in the presence of European Commission President Ursula von der Leyen on Wednesday, Wam reported.
Under the deal, Israel will deliver gas to neighbouring Egypt, where it will be liquefied and exported to Europe.
The Israeli energy minister explained that this agreement will work on the stable delivery of natural gas to the EU from the East Mediterranean region.
“The EU seeks to make itself less dependent on gas from Russia, whose supplies accounted for 45 percent of the bloc’s gas consumption last year. Since the Russian invasion of Ukraine, the EU has increasingly looked for other sources of energy,” said Ursula von der Leyen, expressing her happiness at attending the signing ceremony.
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