EU, Israel To Increase Energy Cooperation
The European Union will increase its energy cooperation with Israel in an effort to help reduce its energy dependence on Russia. The decision was announced on Tuesday during a joint press briefing following a meeting in Jerusalem between Israeli Prime Minister Naftali Bennett and European Commission President Ursula von der Leyen.
The EU has decided to back away from purchasing oil and gas from Russia in the wake of Russia’s invasion of Ukraine. Von der Leyen announced that the EU, Israel, and Egypt would on Wednesday sign a memorandum of understanding on Wednesday under which Israel will export natural gas via pipeline to Egypt, where it will be turned into liquefied natural gas and then delivered to the 27 member states of the EU.
“In recent years, Israel went from being a gas importer to becoming a gas exporter. And we’re currently working to produce natural gas from – more natural gas from – Israel’s economic waters,” Bennett said during the news conference.
“It is, for us, very important and I’m very grateful that we are now discussing this fascinating project that you are willing to increase the deliveries of gas to the European Union via Egypt,” von der Leyen responded.