Israel’s energy minister said on Monday that the country will sign a memorandum of understanding (MoU) with Egypt and the European Union (EU) in the next weeks to sell natural gas to EU countries.
According to Karine Elharrar, Israeli and European teams are working on establishing natural gas cooperation.
She explained that under their exporting plan, Israeli gas will go through pipes from Israel to Egypt before being delivered to Europe.
The Israeli minister went on to say that her government was planning a new tender for gas exploration off Israel’s Mediterranean coast to find new volumes that would allow for increased exports to Europe.
The deal comes as Europe is looking for alternative energy sources for Russian gas since the outbreak of the Russian war on Ukraine in February.