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EU Signs Gas Deal With Israel, Egypt In Bid To Ditch Russia

EU Signs Gas Deal With Israel, Egypt In Bid To Ditch Russia

SIGNED &SEALED: The tripartite settlement will permit ‘significant’ exports of Israeli fuel to Europe for the primary time.

The European Union, Israel and Egypt have signed a tripartite pure fuel export deal because the bloc seeks to diversify away from Russian power.

The deal, finalised on Wednesday on the East Mediterranean regional power convention in Cairo, will permit “significant” exports of Israeli fuel to Europe for the primary time, the Israeli power ministry mentioned.

“What a special moment,” European Commission chief Ursula von der Leyen mentioned in a joint information convention alongside the Egyptian and Israeli power ministers. “I very warmly welcome the signing of this historic agreement.”

Von der Leyen mentioned on Twitter that the settlement would contribute to Europe’s power safety.

Last 12 months, the EU imported roughly 40 % of its fuel from Russia. Countries have been struggling to cut back that dependency as a way to sanction Russia over its ongoing invasion of Ukraine.

The signing of the memorandum of understanding in a five-star Cairo lodge comes a day after von der Leyen and Italian Prime Minister Mario Draghi launched into power talks with Israeli international minister Yair Lapid.

“It is an outstanding step bringing our energy cooperation to the next level,” von der Leyen mentioned on Tuesday whereas visiting Israel.

The EU Commission chief burdened that the memorandum of understanding would enhance the bloc’s “independence,” glossing over its newly-found reliance on Cairo and Tel Aviv, that are each accused of grave human rights violations and conflict crimes.

Von der Leyen additionally praised a set of controversial agreements brokered by former US President Donald Trump normalising ties between Israel, the UAE and Bahrain.

Israeli fuel can be introduced by way of a pipeline to Egypt’s LNG terminal on the Mediterranean, the place some can be liquefied and transported on tankers to European shores

Source:- Aljazeera

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