Israel, Egypt Sign Memorandum to Increase Gas Supplies

Israeli PM Naftali Bennett meets Egyptian President Abdel Fattah Al-Sisi in Sharm El-Sheikh, Egypt. (Photo: via PM of Israel Twitter Page)

Egypt and Israel have signed a memorandum of understanding to increase natural gas supplies from Israel to Egypt, with the aim of re-exporting, the Egyptian Ministry of Petroleum announced on Thursday.

In an official statement, the ministry said that the agreement was signed by the Petroleum Minister, Tarek El-Molla, and his Israeli counterpart, Karine Elharrar, on the sidelines of the Sixth Ministerial Meeting of the East Mediterranean Gas Forum held in Cairo.

The ministry pointed out that the agreement had indicated the “possibility of using the existing pipeline between the two countries to transport hydrogen in the future.”

“The agreement comes within the framework of efforts to expand the use of natural gas to reduce greenhouse gas emissions in the region,” the statement added.

Both ministers had affirmed the “significance of cooperation to reduce harmful emissions to counter climate change and maintain energy supplies in the region.”

In early 2020, Israel began exporting natural gas to Egypt from their Leviathan and Tamar offshore fields under a 15-year deal signed with a private firm in Egypt called Dolphinus Holdings.

(MEMO, PC, Social Media)

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