Israel, Egypt and EU ink natural gas export deal

During a regional summit in Cairo, Israel struck an agreement to export natural gas to Egypt and the European Union (EU), as Europe looks for alternate energy sources to replace Russia’s fuel amid its ongoing conflict in Ukraine.

According to Israel’s energy ministry, the agreement, which was inked on Wednesday, calls for the liquefaction of Israeli natural gas at Egyptian processing facilities before it is transported to Europe.

In order to put pressure on Russian President Vladimir Putin, the EU, which obtained roughly 40% of its gas from Moscow last year, is looking to secure alternative energy sources.

“With this agreement, we will work on the stable delivery of natural gas to the EU from the East Med region,” European Commission President Ursula von der Leyen tweeted on Wednesday.

“This will contribute to our energy security. And we are building infrastructure fit for renewables – the energy of the future.”

In reaction to Moscow’s use of gas to “blackmail” EU member states since the Ukraine war erupted, Von der Leyen stated during a visit to Israel on Tuesday that the EU was pursuing closer energy cooperation with Israel.