Israel and Egypt will aim to boost natural gas exports to Europe under a memorandum of understanding (MoU), as the continent looks to replace Russian energy imports.
Israeli energy ministry says the framework deal signed with the European Union (EU) will be the first to allow “significant” exports of Israeli gas to Europe.
Under the agreement, the EU will encourage European companies to participate in Israeli and Egyptian exploration tenders.
Some Israeli gas is already sent by pipeline to liquefaction plants on Egypt’s Mediterranean coast, from where it is re-exported as liquefied natural gas (LNG).
