Reuters 15 June 2022
- Agreement aims to expand LNG shipments via Egypt
- Officials say significant increase could take couple of years
- EU and Egypt also working on green hydrogen partnership
CAIRO/JERUSALEM, June 15 (Reuters) – Israel and Egypt will aim to boost natural gas exports to Europe under a memorandum of understanding (MoU) signed on Wednesday as the continent looks to replace Russian energy imports.
The framework deal signed with the European Union (EU) will be the first to allow “significant” exports of Israeli gas to Europe, Israel’s energy ministry said.
Under the agreement, the EU will encourage European companies to participate in Israeli and Egyptian exploration tenders, the ministry said.
The agreement signed on Wednesday recognises that natural gas will have a central role in the EU’s energy market until 2030.
Following that, the use of natural gas is expected to decline in line with its commitment becoming a zero-emission economy by 2050.
The deal was signed as Egypt hosted the East Mediterranean Gas Forum, a grouping established in 2020 that aims to boost gas trade between regional states including Israel, Greece, Cyprus and Jordan, and during a visit to Cairo by European Commission President Ursula von der Leyen.
“This is a big step forward in the energy supply to Europe,” von der Leyen said after meeting Egyptian President Abdel Fattah al-Sisi, adding that the EU wanted to work with Egypt long-term to expand renewable energy supplies.
Part of that is an ambitious partnership for hydrogen production, expected to be launched when Egypt hosts the COP27 climate conference in November, she said.
“I see it as a first step leading to a Mediterranean-wide agreement because I see that the energy supplies were mostly traditionally in the northern part, now are shifting towards the global south and east,” von der Leyen said.
Egypt recently signed a flurry of preliminary agreements for green hydrogen and ammonia projects on its Red Sea coast.
In an historic move Israel has just signed a deal with the European Union to export natural gas through the year 2050.
This is important for several reasons:
1) Israel has officially become an energy superpower.
2) The EU has always hated Israel, but now they have become virtual allies.
3) The countdown to the Russian invasion to plunder the spoils of Israel in the Ezekiel 38 War has begun.
Russia’s primary source of income is its energy exports. Losing its number one customer, Europe, to Israel will rapidly become untenable and stir Gog to remedy the situation.
The Lord has given His church front row seats in the theatre now playing out the events just prior to the Time of Jacob’s Trouble.