Israel, Egypt and the European Union signed a memorandum of understanding in Cairo on Wednesday that will export its natural gas to Israel for the first time.
The agreement will increase sales of liquefied natural gas to EU countries, aiming to reduce reliance on supplies from Russia in the wake of Ukraine’s invasion.
Last year, the European Union imported about 40 percent of its gas from Russia. Moscow has faced energy difficulties since the imposition of sweeping sanctions.
The agreement would send the gas to Israel via Egypt, which has facilities to liquefy it for export via sea.
Energy Minister Karin Elharer said the signing of the MoU strengthened Israel’s role in the global energy forum.
“This is a tremendous moment in which little Israel is becoming a significant player in the global energy market,” Elharer said.
Energy Minister Karine Elharer signs an agreement with EU Commission President Ursula von der Leyen and Egyptian Petroleum Minister Tarek El-Mola to boost Eastern Mediterranean gas exports to Europe, in Cairo, Egypt, June 15 , 2022. (AP photo/Amr Nabil)
In a joint press conference with European Commission chief Ursula von der Leyen and Egyptian Petroleum Minister Tarek al-Mollah, Elharer said the deal was struck in the wake of Russia’s invasion of Ukraine.
“The MoU will allow Israel to export Israel’s natural gas to Europe for the first time, and it is even more impressive when one looks at the string of important agreements we signed in the past year, which deal with Israel and Israel’s energy and water reflects the status of the economy as a major player in the world,” she said.
Elharrar also said that the agreement highlighted the growing cooperation between Egypt and Israel.
“This is a statement to those who see only negative forces like division and conflict in our region,” she said. “This MoU shows us that we are leading a new path of partnership, solidarity and sustainability.”
Von der Leyen said the deal would help the bloc move away from its dependence on Russia.
“What a special moment,” she said. “I warmly welcome the signing of this historic agreement.”
She said the agreement was part of Europe’s efforts to diversify energy sources away from Russia and import hydrocarbons from “other trusted suppliers” – naming Israel and Egypt, which have been a gas exporter after major offshore discoveries in recent years. emerged as
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Al-Mollah described the agreement as “an important milestone” for cooperation between Egypt, Israel and the European Union.
He said this would boost cooperation among members of the Eastern Mediterranean Gas Forum, which include Jordan, Israel, Cyprus, Greece, Egypt, the Palestinian Authority, France and Italy.
European Commission President Ursula von der Leyen (CL), EU Energy Commissioner Kadri Simsson (L), Egyptian Petroleum Minister Tarek el-Mola (CR), and Israel’s Energy Minister Karine Elharer at the signing ceremony of a tripartite natural gas deal participate in. During the East Mediterranean Gas Forum (EMGF) ministerial meeting in Cairo on June 15, 2022 (Khalid Desoki / AFP)
The MoU recognizes the important role of natural gas in the energy economy of EU countries until 2030, at which point its consumption is gradually reduced to 2050 – the zero-emissions target set by the bloc and several countries including Israel.
The deal, signed on Wednesday, addressed environmental concerns, including provisions for obtaining carbon from the atmosphere.
The Energy Ministry statement said all those involved in the agreement will work to reduce methane emissions and test advanced technologies for mitigation actions.
The agreement provides for a joint examination of the possibilities of using carbon capture as part of a common plan to find ways to reduce emissions as well as invest in the development of technologies, including decarbonization of the natural gas sector. also includes. pursue these goals. No further details were given.
EU Commission President Ursula von der Leyen speaks after signing an agreement to increase sales of liquefied natural gas to EU countries, aimed at reducing reliance on supplies from Russia because of the war in Ukraine June 15, Continuing on 2022 in Cairo, Egypt. (AP photo/Amar Nabil)
Earlier this year, the United Nations Intergovernmental Panel on Climate Change clarified that carbon removal is necessary if the world is to meet the climate goals of the Paris Agreement and if governments and companies are to deliver on their net-zero promises. Is. The world’s population emits billions of tons of greenhouse gases (GHG) every year, primarily through the burning of fossil fuels such as coal, oil and natural gas. It is the main driver of global warming and climate change.
The ministry noted that natural gas was preferable to more polluting fuels such as coal and oil.
The agreement also included a clause by which the EU would encourage European companies to participate in tenders and invest in natural gas exploration and production projects in both Israel and Egypt.
Egypt was the first Arab country to make peace with Israel in 1979, but economic agreements have been controversial in the Arab world’s most populous country, where popular support for the Palestinians remains high. However, relations between the two countries have been heating up in recent years.
According to the deal, Israeli gas will be brought via a pipeline to Egypt’s LNG terminal in the Mediterranean Sea before being taken to European shores on tankers.
Israel has two operational gas fields off the Mediterranean coast with an estimated 690 billion cubic meters of natural gas combined, and a third offshore rig is in the works. It has already signed gas export agreements with neighboring Egypt and Jordan.
Platform of the Leviathan natural gas field in the Mediterranean Sea, taken on December 31, 2019, from Dore, Israel’s northern beach. (Jack Guez/AFP)
Egypt’s extensive natural gas facilities on the Mediterranean have been largely dormant since the country’s 2011 uprising that toppled longtime autocrat Hosni Mubarak.
In recent years, the government of President Abdel Fattah al-Sisi rehabilitated and modernized the facilities. In 2018, Egypt signed a $15 billion agreement with Israeli company Delek Drilling and its US partner, Noble Energy, to transport natural gas. Egypt aims to create a regional energy hub.
Wednesday’s agreement was signed a day after a US mediator reached Beirut Talks On an offshore extraction dispute that has threatened to snowball into an armed conflict. Israel and Lebanon are currently at odds over the rights to the Karish gas field, which the Israeli government claims is in a UN-recognized exclusive economic zone, while Lebanon claims the water is disputed.
