16 Jun 2022
The Ministry of Petroleum & Mineral Resources announced that a MoU regarding natural gas exports to Europe was signed between Egypt, Israel, and the E.U. at the East Mediterranean Gas Forum. Israel is already exporting LNG to Europe by shipping the natural gas through a pipeline to Egypt, where it is liquefied and shipped to Europe. The new agreement involves increasing the quantity of gas provided by Israel. The deal will continue for 3 years, with an automatic 2 year extension.
The European Commission president, who attended the signing ceremony, also pledged EUR100mn in relief for food security in Egypt. She said that this agreement marks a key milestone for Egypt in becoming a regional energy hub. She highlighted that "we want to diversify to trustworthy suppliers, and Egypt is a trustworthy partner," praising Egypt for contributing to Europe’s energy security, and appreciating the strengthening EU-Egypt relations. (Sources: European Commission (English), Reuters (English), AP (English), BBC (English) (Arabic), France 24 (English) (Arabic), DW (English) (Arabic), Xinhua (English), Zawya (English), al-Ahram (English), Egypt Today (English), Daily News Egypt (English), Egypt Today (English), al-Arabiya (English) (Arabic), al-Sharq al-Awsat (English) (Arabic), Amwal al-Ghad, al-Borsa, al-Masry al-Youm, al-Dustour, Masrawy, al-Sharq Business, Sky News Arabia, Euronews, CNN, RT, Sputnik)