{"id":547270,"date":"2022-06-15T03:59:19","date_gmt":"2022-06-15T03:59:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/europe-knocked-we-answered\/"},"modified":"2022-06-15T03:59:19","modified_gmt":"2022-06-15T03:59:19","slug":"europe-knocked-we-answered","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/europe-knocked-we-answered\/","title":{"rendered":"Europe knocked. We answered."},"content":{"rendered":"

<\/a> Egypt, Israel and the EU could sign an agreement to increase gas export <\/strong>across the Mediterranean in Cairo today<\/strong>. EU Commission President Ursula von der Leyen and Israeli energy minister Karine Elharrar<\/a> will be in the capital today to seal the agreement, which is expected to pave the way for more Israeli gas to be exported to Europe via Egypt\u2019s LNG facilities. \u201cTomorrow we\u2019ll take an important step, with the signing of a trilateral agreement on gas between Israel, the EU and Egypt,\u201d von der Leyen wrote on Twitter<\/a> yesterday following a meeting with Israeli PM Naftali Bennett.<\/p>\n

Expect to hear more details later today:<\/strong> Draft documents picked up by the press<\/a> have suggested that the EU could help finance new energy infrastructure \u2060\u2014 which would come in handy as the government solicits funds for new LNG terminals<\/a> \u2060\u2014 and work with Egypt and Israel to curb methane gas emissions.<\/p>\n

The signing will coincide with a meeting of the<\/strong>East Mediterranean Gas Forum<\/a><\/strong> (EMGF)<\/strong>, which will bring together officials from the eight founding countries, as well as observers the EU, the US and the World Bank.<\/p>\n

This is precisely what we had been banking on as far as our regional gas hub ambitions go: <\/strong>Since its inception, the EMGF has been a key foreign policy initiative of Cairo \u2014 where the forum is headquartered \u2014 that would see us be the LNG export hub for the region\u2019s gas reserves. Apart from Israel, Egypt has agreements with Cyprus and Greece on pipelines that would see their gas sent to our facilities for re-export.<\/p>\n

Israel has ambitions to become a regional gas hub of its own:<\/strong> The EU is continuing to study the planned EastMed pipeline, which would ship 10 bn cubic meters of Israeli gas a year from the Mediterranean straight to Greece, von der Leyen said yesterday<\/a>.<\/p>\n

Gazprom reminded us yesterday of why the EU is so keen for EastMed gas:<\/strong> The Russian gas giant \u2014 which provides around 40% of Europe\u2019s consumption \u2014 curbed supplies through the major Nord Stream 1 pipeline by 40% yesterday, blaming Siemens<\/a> for malfunctions at its Baltic station. Russia has already cut off gas supplies to the Netherlands, Denmark, Poland and Bulgaria for failing to pay in RUB, threatening to intensify Europe\u2019s energy crisis at a time when it is trying to reduce its reliance on Russian hydrocarbons.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt, Israel and the EU could sign an agreement to increase gas export across the Mediterranean in Cairo today. EU Commission President Ursula von der Leyen and Israeli energy minister Karine Elharrar will be in the capital today to seal the agreement, which is expected to pave the way for more Israeli gas to be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[1953,93,72,7192,89],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547270","post","type-post","status-publish","format-standard","hentry","category-energy","tag-eastern-mediterranean-gas-forum","tag-energy","tag-enterpriseam","tag-eu","tag-israel","wpautop","entry"],"acf":{"mongo_id":"3e6c6253-1803-495d-8f85-a2335097bd97","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[547266],"teaser":"","voice_url":""},"yoast_head":"\nEurope knocked. 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The agreement will see Israel send more gas to\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548885,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/israeli-natgas-exports-surge-in-1h-2022\/","url_meta":{"origin":547270,"position":2},"title":"Israeli natgas exports surge in 1H 2022","author":"enterpriseam admin","date":"25 August 2022","format":false,"excerpt":"All the more gas for us to liquefy: Israeli natgas exports surged 35% y-o-y in the first six months of the year as production increased at its two biggest fields in the eastern Mediterranean, Bloombergreports. Israel exported some 4.59 bn cubic meters (bcm) during the period as production surged 22%\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/392.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567240,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/egypt-could-re-export-israeli-gas-to-eu-within-months-steinitz\/","url_meta":{"origin":547270,"position":3},"title":"Egypt could re export Israeli gas to EU within months -Steinitz","author":"enterpriseam admin","date":"16 January 2020","format":false,"excerpt":"Egypt could re-export Israeli gas to EU \u201cin months\u201d -Steinitz: Egypt could start to re-export shipments of Israeli gas to Europe \u201cin a few months,\u201d Israeli Energy Minister Yuval Steinitz told Reuters. 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