Following the unveiling of "Israel Today":
Energy Minister Karin Elharar signed a memorandum of understanding this morning (Wednesday) between Israel, Egypt and the European Union on cooperation regarding trade, transportation and export of natural gas to EU countries for three years, at the end of which the two-year memorandum of understanding is automatically renewed. More.
The Memorandum of Understanding was signed during Minister Elharar's visit to Egypt as part of the Regional Gas Forum of the Eastern Mediterranean Countries (EMGF).
According to the Ministry of Energy, the use of natural gas in EU member states is expected at least until the commitment of the EU member states' zero-emission economy is met by 2050.
According to the Memorandum of Understanding, the signatory parties will work together to enable the regular supply of natural gas to EU member states from Egypt, Israel and other destinations, through the existing natural gas liquefaction infrastructure in Egypt.
Also, under the agreement the signatory states will be able to export the gas to other destinations and it is subject to maintaining energy security and supply to the domestic market.
In addition, the European Union will encourage European companies to participate in competitive procedures and invest in natural gas exploration and production projects in Israel and Egypt.
In addition, a plan will be formulated for the utilization of infrastructure, an examination of the need for the construction and development of new drainage facilities, and the formulation of a roadmap for completing and accelerating the receipt of approvals required for the implementation of the Memorandum of Understanding.
Elharar: "A Mighty Moment", Photo: Oren Ben Hakon
About a month ago, Israel and the European Union held accelerated negotiations on the sale of Israeli gas to Europe through Egypt.
Drafts were exchanged between the parties and it was estimated that the framework agreement would be signed during the summer.
This will be followed by negotiations between the gas companies themselves.
The urgent initiative to supply gas from Israel to Europe via Egypt is a result of the Russian war in Ukraine.
With the outbreak of the war, in Europe the decision was made to free itself from the energy dependence on Russia, which supplies about 40 percent of the gas consumption of the EU countries.
In an attempt to diversify energy sources, the Europeans contacted the Egyptian Minister of Energy, Tarek al-Mula, and Israel's Minister of Energy, Karin Elharar.
Energy Minister Karin Elharar declined to comment: "This is a tremendous moment in which little Israel becomes a significant player in the global energy market. The Memorandum of Understanding will allow Israel to export Israeli natural gas to Europe for the first time and is even more impressive." And the Israeli energy and water economy as a key player in the world. "
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