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In landmark deal signed in Cairo, Israel to export natural gas, via Egypt, to Europe | TOI |

In a joint news conference alongside European Commission chief Ursula von der Leyen and Egyptian Petroleum Minister Tarek el-Molla, Elharrar said the deal came about in the wake of Russia's invasion of Ukraine.

"The memorandum of understanding (MOU) will allow Israel to export Israeli natural gas to Europe for the first time, and it is even more impressive when one looks at the string of significant agreements we have signed in the past year, positioning Israel and the Israeli energy and water economy as a key player in the world," she said.

Von der Leyen said the agreement would help the bloc move away from its dependence on Russia.

"What a special moment," she said. "I very warmly welcome the signing of this historic agreement."

She said the agreement was part of Europe's efforts to diversify energy sources away from Russia and import hydrocarbons from "other trustworthy suppliers" -- naming Israel and Egypt, which have emerged as gas exporters in recent years following major offshore discoveries.

Israel to send fuel to Egypt, which will liquify it for shipping; agreement will help European bloc reduce Russian energy dependence; MOU built with nod to zero emissions targets.

GOT IT? Nod to zero emissions target ... kosher natural gas from Palestine Gaza Marine, Lebanon off shore or Golan Heights.

Key EU Parliament Groups Reject Plans to Label Gas and Nuclear as Green Energy | TIME |

'Sapere aude'

by Oui (Oui) on Wed Jun 15th, 2022 at 03:04:53 PM EST
Egypt's production of gas has skyrocketed close to 7 billion cubic feet | Egypt Independent |

Egypt and other gas-producing countries will benefit from directing gas to bridge the gap in Europe.

It is the peoples who pay the price of global food crises, he added, pointing out that it is necessary to work to reduce tensions in the Middle East, referring to countries that work on electrical interconnection projects with Egypt.

Egypt will benefit from using its infrastructure and its more than 130 years of experience to export its own gas, or the gas of neighboring countries such as Cyprus and Israel, he added.

He said that Egypt's production of gas is currently close to 7 billion cubic feet, pointing out that only Egypt and Algeria have gas liquefaction stations as Mediterranean countries have no infrastructure to build gas liquefaction plants.

The East Mediterranean Gas Forum (EMGF) was established by the end of 2020 by Egypt, Israel, Greece, Cyprus, Italy and Jordan to be an international organization that respects the rights of members regarding their natural resources in accordance with the principles of international law and supports their efforts to benefit from their oil reserves and infrastructure in order to secure their energy needs for the well-being of their peoples, according to a statement by the Egyptian Petroleum Ministry.

VDL in a hurry, talks hydrocarbons, NOT human rights ...

Natural Gas in the Palestinian Authority: The Potential of the Gaza Marine Offshore Field | GMF - March 2014 |

How Blair's Egyptian gas gambit advances the Israeli energy empire | MEE - March 2015 |

Chevron deal Noble Energy ends Israel's isolation | Asia Times - July 24, 2020 |

Entrance of a US oil giant with deep Saudi ties signals end to Arab boycott of Israel

'Sapere aude'

by Oui (Oui) on Wed Jun 15th, 2022 at 03:06:36 PM EST
[ Parent ]
euractiv | EU signs gas deal with Egypt, Israel to end 'dependency' on Russia, 16 June gratification delayed
Ursula von der Leyen also pledged relief worth €100 million for food security in Egypt which has been reeling from grain shortages as a result of the Ukraine war [EU sanctions]
S&P Global GRAPHIC WARING: MY 20/21, 2.5M mt (UA), MY 21/22 3.8M mt (RU)
The memorandum of understanding on gas exports between Egypt, Israel[,"four EU memberstates (Cyprus, France, Greece and Italy)"] and the EU was signed at the East Mediterranean Gas Forum on Wednesday (15 June).
...The activities contemplated in this Memorandum of Understanding shall be without prejudice to, and shall not restrict the ability of, the Arab Republic of Egypt or the State of Israel to export natural gas to other buyers or through other routes.
Nothing in this Memorandum of Understanding will create any legally binding obligations or commitments, or any financial obligations or commitments, between the Sides or in relation to any third party, under domestic or international law. This Memorandum of Understanding does not constitute an obligation to allocate funds.
This Memorandum of Understanding will come into effect on the date of its signature by the Sides and will continue to have effect for a period of three (3) years. It will be renewed automatically for two successive three (3) year periods. ...This Memorandum of Understanding may be terminated by a six (6) months' prior written notice via diplomatic channels by any of the Sides. The termination of this Memorandum of Understanding will not affect any ongoing activity arising out of this Memorandum of Understanding, unless the Sides agree otherwise in writing.
Under a landmark $15 billion deal in 2020, Israel already exports gas from an offshore field to Egypt, where it is liquefied and shipped to European countries. But a significant increase in gas exports from Israel [, "Cyprus, France, Greece, and Italy"] via Egypt would require major long-term infrastructure investments.
She also pledged €3 billion in "agriculture and nutrition, water and sanitation programmes over the next years here in the region".
During her Israel visit, von der Leyen had accused Moscow of deliberately cutting off gas supplied to European countries "in retaliation for our support to Ukraine".

"This is a big step forward in the energy supply to Europe, but also for Egypt to become a regional energy hub," she said in Cairo. Egypt will host the UN COP27 climate conference in Sharm el-Sheikh in November.

by Cat on Thu Jun 16th, 2022 at 10:48:54 PM EST
[ Parent ]
Russia-Saudi relations "as warm as the weather in Riyadh", Prince Abdulaziz says, 16 June RF Deputy PM Alexander Novak
The Prince made a surprise appearance at the St. Petersburg International Economic Forum while not being listed on an official schedule. Russia could continue cooperating within the OPEC+ oil production agreement beyond 2022, Deputy Prime Minister Alexander Novak said, after a meeting with Saudi Arabia's energy minister.
GRAPHIC oil production hikes to offset sanctions
Asked whether OPEC+ partners are complaining about Russian underproduction, Novak told reporters after the meeting: "We see the current situation (on the global oil market) as balanced despite some uncertainties."

King Salman sends written message to Qatari emir Sheikh Tamim bin Hamad Al-Thani, 16 June

related to consolidating fraternal relations between the two brotherly countries
13 June: US Gen. Allen (ret'd) business deals with the government of Qatar indicted

Egyptian leader affirms depth of country's strategic ties with EU, 15 June MOU
duly noted press conference

by Cat on Thu Jun 16th, 2022 at 11:17:36 PM EST
[ Parent ]


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