Filenews 15 June 2022
The energy ministers of Israel, Egypt and the EU signed a memorandum of understanding on the export of Israeli gas to Europe, at a ceremony in Cairo on Wednesday, according to the The Jerusalem post. The deal comes as Europe searches for alternative energy sources in Russia in light of its invasion of Ukraine.
Israeli gas in the EU
The gas will be transported from Israel to Egypt through an existing pipeline and Egypt will use its facilities to liquefy the gas for export to ensure a steady flow of gas to Europe, while ensuring the energy security of all sides.
The agreement is to continue at least until 2030 and will be phased out until 2050. The sides agreed to work together on carbon capture and reducing carbon emissions, as well as to work with the private sector on green energy and energy efficiency initiatives.
In addition, the sides agreed to work on a plan to make gas exports to Europe more efficient. The EU will encourage European companies to participate in the exploration and production of natural gas in the economic waters of Israel and Egypt.
As Mrs von der Leyen explained, the memorandum of understanding concerns the transport of gas from Israel to Egypt, where it will be liquefied before it is transported to the European Union.
This agreement, von der Leyen added, will help make Egypt a "regional energy hub".
The agreement was signed by Energy Commissioner Kadri Simpson, Egyptian Oil Minister Tarek el-Mola and Israeli Energy Minister Karin Elharard.
Referring to the discussion she had with Mr. Sisi on the energy issue, Von der Leyen noted that the EU wants to end its dependence on Russian fossil fuels and exploit alternative sources from reliable partners. One such partner is Egypt, she added.
Von der Leyen also stressed that the EU attaches particular importance to new solutions such as renewable energy, to which Egypt has good access, and noted that the EU and Egypt have a common interest in promoting infrastructure and technology together.
At the same time, she continued, the EU and Egypt are working on their future cooperation on the production of hydrogen fuel from renewable energy sources.
The Egyptian President in turn said he briefed Von der Leyen on Egypt's preparations for the COP27 climate summit to be held in November in Sharm el-Sheikh.
In relation to energy, he noted that issues of natural gas and electrical interconnection, infrastructure and green hydrogen production were discussed.
The EU, Sisi noted, is an economic and political power with which Egypt has a long-standing relationship of respect and communication. During today's meeting, he continued, they discussed strengthening cooperation in many areas, and welcomed the adoption of the priorities of the relationship between the two sides by 2027.
As Von der Leyen said in the meantime, the two officials also discussed the issue of food safety and the impact of the war on Egypt as well because of Russia's blockade of tonnes of grain in Ukraine's ports.
The Commission's President announced that €100 million would be allocated to meet the needs of businesses and the agricultural sector, and to increase guarding capacities.
In the medium and long term, she added, the goal is to boost local food production, including by providing €3 billion to boost and modernise agriculture in the region.
