{"id":605729,"date":"2023-09-05T00:00:00","date_gmt":"2023-09-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/05\/israel-cyprus-greece-are-about-to-make-big-decisions-about-the-future-of-east-med-gas\/"},"modified":"2023-09-05T00:00:00","modified_gmt":"2023-09-05T00:00:00","slug":"israel-cyprus-greece-are-about-to-make-big-decisions-about-the-future-of-east-med-gas","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/05\/israel-cyprus-greece-are-about-to-make-big-decisions-about-the-future-of-east-med-gas\/","title":{"rendered":"Israel, Cyprus + Greece are about to make big decisions about the future of East Med gas"},"content":{"rendered":"

Big decisions will soon be made about how to get Israeli gas to <\/strong> Europe. <\/strong> Israel, Greece, and Cyprus agreed yesterday to form a deeper trilateral energy partnership to export Israeli gas to Europe and connect their energy grids, Reuters<\/a> reports. The leaders of the three countries held a summit in the Cypriot capital yesterday amid new momentum behind a proposal to establish a gas pipeline connecting Israel and Europe.<\/p>\n

Remember: Greece, Israel and Cyprus are \u2014 individually and in combinations \u2014 both partners and competitors of Egypt <\/strong>when it comes to energy exports to Europe. There are multiple competing projects on the drawing board to build an electricity interconnector from Egypt to Greece. Egypt has for years been working to bring fresh stocks of natural gas from both Israel and Cyprus, and Greece has emerged as a key Egyptian partner on East Med energy policy.<\/p>\n

Israel is clearly mulling its options: <\/strong>\u201cWe will have to decide soon about how Israel exports its gas and the same decisions have to be made by Cyprus. We are looking at the possibility of cooperating on this,\u201d said Israeli PM Benjamin Netanyahu. \u201cThose decisions will be made, I think, in the next three to six months, probably closer to three months.\u201d<\/p>\n

Egypt is currently the only way Israel can ship its gas out of the region: <\/strong> With no pipelines or LNG terminals of its own, Israel currently sells around 4.6 bcm<\/a> of natural gas a year to Egypt, which then exports a portion to Europe via its LNG facilities and uses the rest for local consumption. <\/p>\n

The problem: <\/strong> Declining natural gas production in Egypt means that less of this Israeli gas is going to be destined for the EU. That\u2019s a problem for Europe, which is pushing hard to find new energy sources to replace Russian hydrocarbons \u2014 and a problem for Israel, which faces limitations on how far it can take its energy partnership with the Europeans. Increasing gas supplies to Egypt could help remedy the situation, something that Tel Aviv wants to do<\/a> but likely won\u2019t be able to achieve for at least another two years.<\/p>\n

Israel + Cyprus have been looking for other options: <\/strong> Long-term plans for a direct, 2k-km pipeline between Israel\u2019s gas fields and Cyprus have been dusted off in recent weeks despite concerns about the cost and technical challenges of the line, with officials from both countries discussing the idea<\/a> and Italian energy firm Edison throwing its weight<\/a> behind the plan.<\/p>\n

The same debate is playing out in Cyprus right now: <\/strong> Whether to export its gas via Egypt or cut us out (in whole or in part) and get its own LNG terminal is currently being contested<\/a> between the Cypriot government, the operating company of its biggest gas field, Chevron, and apparently Washington<\/a>, where the Biden administration is reportedly backing Chevron\u2019s bid to link the massive Aphrodite field to Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

Momentum is growing behind a proposal to establish a pipeline linking Israel\u2019s gas fields to Europe<\/p>\n","protected":false},"author":1,"featured_media":605730,"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":[168,6791,6576,7378,93,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-605729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-diplomacy","tag-egypt-cyprus-relations","tag-egypt-greece-relations","tag-egypt-israel-relations","tag-energy","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"566a5970-107b-46a2-af08-06f9e4bdf2c4","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/338.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Israel, Cyprus + Greece are about to make big decisions about the future of East Med gas","related_issue":[605718],"teaser":"Momentum is growing behind a proposal to establish a pipeline linking Israel\u2019s gas fields to Europe","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.de0f319f-c477-444b-a44d-7233a4c48e2e.mp3"},"yoast_head":"\nIsrael, Cyprus + Greece are about to make big decisions about the future of East Med gas - 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We answered.","author":"enterpriseam admin","date":"15 June 2022","format":false,"excerpt":"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\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":592776,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/06\/ingl-poseiden-sign-mou-to-move-forward-on-israel-europe-gas-pipeline\/","url_meta":{"origin":605729,"position":2},"title":"INGL, Poseiden sign MoU to move forward on Israel-Europe gas pipeline","author":"enterpriseam admin","date":"6 November 2019","format":false,"excerpt":"Is Israel getting closer to scuppering our energy ambitions? Israel Natural Gas Lines (INGL) signed an MoU yesterday with Greek-Italian JV IGI Poseidon to look into the technical, regulatory, and other issues of constructing a natural gas pipeline to Europe, the Israeli government-owned INGL said in a regulatory filing, according\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/1376.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560725,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/10\/class-is-in-session-for-the-emgf\/","url_meta":{"origin":605729,"position":3},"title":"Class is in session for the EMGF","author":"enterpriseam admin","date":"10 March 2021","format":false,"excerpt":"Gas decarbonization and using LNG as fuel for vessels are on the agenda for the East Mediterranean Gas Forum (EMGF), whose member countries met in Cairo yesterday for the forum\u2019s first ministerial meeting since the forum came into effect this month, according to an Oil Ministry statement. The seven founding\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\/2021\/3\/155.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658288,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/09\/egypt-greece-cyprus-talk-energy-regional-politics-at-trilateral-summit\/","url_meta":{"origin":605729,"position":4},"title":"Egypt, Greece, Cyprus talk energy, regional politics at trilateral summit","author":"enterpriseam admin","date":"9 January 2025","format":false,"excerpt":"El Sisi noted that Egypt is looking forward to receiving Cypriot gas at its LNG facilities for liquefaction and re-export to Europe","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/399.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567396,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/21\/egypt-in-the-news-on-21-january-2020\/","url_meta":{"origin":605729,"position":5},"title":"Egypt in the News on 21 January 2020","author":"enterpriseam admin","date":"21 January 2020","format":false,"excerpt":"This morning in the foreign press: Egypt is apparently \u201cunruffled\u201d by Israel\u2019s pipeline project that would allow it to ship gas directly to Europe without using Egypt as an intermediary, writes Hagar Hosny for Al Monitor. Greece, Cyprus, and Israel earlier this month signed an agreement to move ahead with\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/605729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=605729"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/605729\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/605718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/605730"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=605729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=605729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=605729"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=605729"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=605729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}