The Israeli Ministry of Energy announced that the government has approved a plan to expand Israel’s pipeline network to increase natural gas exports to Egypt.
The ministry said Monday’s approval allows for a 900 million shekel ($248 million) pipeline to be built in southern Israel that will stretch 65 kilometers to the Egyptian border and transport 6 billion cubic meters of gas a year.
Israel is already supplying gas to Egypt from its offshore fields, and the two countries have jointly signed an agreement with the European Union to increase exports to Europe.
Egypt has signed an agreement with Israel and the European Union to increase natural gas supplies to Europe, which could turn it into a regional natural gas trading hub.
Notably, Egypt receives “natural gas from Israeli fields – the eastern Mediterranean, LNG plants, and then fills it with ships and re-exports it, which is the method by which Egyptian and Israeli gas will be pumped to the European Union, in the absence of pipelines for transporting gas.” nature to the old continent.
It was reported that Egypt and the European Union already have “memorandums of understanding on a strategic partnership in the field of energy since 2018, and the two sides also launched the then first business forum between the European Union and Egypt on sustainable energy.”
In 2018, the Egyptian and Cypriot governments signed an agreement paving the way for an offshore gas pipeline between the two countries to transport gas from the Cyprus Aphrodite field to liquefaction plants in Egypt and re-export it, which is a line that is currently being negotiated with investors.
Source: agencies
