(Photo by Delfino Barboza on Unsplash)
(CBN) – Egypt, Israel and the European Union on Wednesday signed an agreement to increase the sale of liquified gas to Europe as the continent seeks to decrease its dependency on Russian energy.
The deal will see Israel export gas to Egypt, where it will be liquified and re-exported to Europe via the sea. Israel and Egypt already export gas. However, this agreement is the first to allow “significant” Israeli exports to Europe, Israel’s energy ministry said.
"Today we make history, today Egypt and Israel together made (a) commitment to share our natural gas with Europe and help with the energy crisis. Unfortunately, this MOU (memorandum of understanding) is signed due to an invasion of Russia to Ukraine which brought about most extreme energy crisis for friends in Europe,” said Israeli Energy Minister Karin Elharrar.
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