In order to deal with the energy crisis, the European Commission is looking at Egypt and Israel to increase import of natural gas. It is proposing this to EU member states in a memorandum of understanding. According to a draft obtained by Reuters, the Commission states:
“The natural gas to be shipped to the European Union will originate either from the Arab Republic of Egypt, the State of Israel, or any other source in the East Mediterranean region, including EU Member States in the region.”
The parties “will work collaboratively to set forth the appropriate ways and means for implementing the purpose of this memorandum of understanding in order to expedite the export of natural gas to the EU.”
The Commission foresees that shipments would include the use of liquefied natural gas (LNG) infrastructure in Egypt. The country intends to become a regional hub for natural gas.
In the next few years, Israel is expected to double gas output, hoping to reach a deal to supply gas to Europe, potentially with the new pipeline to Egypt.
Earlier this week European Commission President Ursula von der Leyen and Italian PM Mario Draghi visited Israel to discuss the matter.
AFP notes that “For now, getting Israeli gas to Europe is fraught with challenges and would require major and long-term infrastructure investments.
With no pipeline linking its offshore fields to Europe, one option for now is piping natural gas to Egypt, where it could be liquified for export by ship to Europe.
Another possible scenario is building a pipeline to Turkey. Israel’s ties with Ankara have thawed after more than a decade of diplomatic rupture and experts have said Turkey’s desire for joint energy projects has partly triggered its outreach to Israel. (…)
Option three is known as the EastMed project, a proposal for a seafloor pipeline linking Israel with Cyprus and Greece. Experts have, however, raised concerns about the cost and viability of the project, while Israel has said it would like to see Italy sign on.”