Egypt, Israel, and the European Union have signed a deal to boost shipments of liquified natural gas (LNG) to EU member states, Sky News Arabia reported on Wednesday. Brussels hopes the agreement will help it to reduce energy dependence on Russia.
“The deal will see Israel sending more gas via Egypt, which has facilities to liquify it for export by sea,” European Commission chief Ursula von der Leyen said at a joint news conference alongside the Egyptian and Israeli energy ministers.
In 2021, the EU imported some 40% of its gas from Russia. The heavy reliance on energy purchases from the country makes it difficult for the bloc to expand its Ukraine-related sanctions.
The gas destined for European consumers is expected to go from Israel via a pipeline directly to Egypt’s LNG terminal on the Mediterranean coast before being loaded onto tankers and shipped north to the European market.