The EU and Israel are set to sign a natural gas export deal today that will help to decrease Europe’s reliance on Russia. The bloc is heavily dependent on Russian oil and gas exports, relying on Moscow for about 40 percent of its energy imports in 2021. According to Israel’s Energy Ministry, a deal with the EU will for the first time allow “significant” exports of Israeli gas to Europe.
The gas that is transported from Israel, will be sent to liquefaction plants in Egypt, after which it will be shipped north to Europe. The framework deal will be signed by Israel, the EU, and Egypt during a regional energy conference in Cairo, according to the Israeli ministry.
This deal is a sign of straining relations between Moscow and Tel Aviv since Russia’s invasion of Ukraine. In February, the Israeli government condemned Russia’s invasion as a “violation of the world order.”
EU signs gas deal with Israel, Egypt in bid to ditch Russia
The tripartite agreement will allow ‘significant’ exports of Israeli gas to Europe for the first time.
The European Union, Israel and Egypt have signed a tripartite natural gas export deal as the bloc seeks to diversify away from Russian energy.
The deal, finalised on Wednesday at the East Mediterranean regional energy conference in Cairo, will allow “significant” exports of Israeli gas to Europe for the first time, the Israeli energy ministry said.
“What a special moment,” European Commission chief Ursula von der Leyen said in a joint news conference alongside the Egyptian and Israeli energy ministers. “I very warmly welcome the signing of this historic agreement.”
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