Robert Besser
19 Jun 2022, 01:37 GMT+10
CAIRO, Egypt: Egypt, Israel and the European Union (EU) have signed an agreement to increase liquified natural gas sales to EU countries, and reduce their dependence on Russian supplies after Moscow's invasion of Ukraine.
According to European Commission chief Ursula von der Leyen, the deal will see Israel send more gas via Egypt, which has facilities to liquify it for export by sea.
During a joint news conference alongside the Egyptian and Israel energy ministers, von der Leyen said, "What a special moment. I very warmly welcome the signing of this historic agreement."
The agreement was part of Europe's efforts to reduce its reliance on Russia for energy sources and to import hydrocarbons from "other trustworthy suppliers," she added, noting Israel and Egypt have emerged as gas exporters in recent years after major offshore discoveries.
The agreement stipulates that the EU will help Egypt and Israel increase their gas production and exploration in their territorial waters.
In a joint news conference with Egypt President Abdel Fattah el-Sissi, von der Leyen said, "It is known that the Russian war against Ukraine has exposed our European dependency on Russian fossil fuels, and we want to get rid of this dependency."
In 2021, Russia delivered some 40 percent of the EU's gas supplies, which led to difficulty in imposing sanctions on Moscow after its invasion of Ukraine.
"This is a statement to those who see in our region only negative forces, such as division and conflict," said Israeli Energy Minister Karin Elharrar.
The deal is "an important milestone" for cooperation between Egypt, Israel and the EU," Egyptian Petroleum Minister Tarek el-Molla added.
Get a daily dose of North Korea Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to North Korea Times.
More InformationMOSCOW, Russia: The UK newspaper, the Telegraph, has been blocked in Russia, following a request from the Russian prosecutor-general.The TASS ...
LAHORE, Pakistan - An Airbus 320 carrying 171 passengers narrowly avoided an accident at Allama Iqbal International Airport, Pakistan's second-largest ...
WASHINGTON, DC - U.S. President Joe Biden on Friday vowed to "do all in my power" to protect a woman's ...
YANGON, Myanmar - According to military-run media, a junta delegation discussed nuclear technology collaboration with a Russian state-owned atomic energy ...
DHAKA, Bangladesh - The United States Agency for International Development (USAID) is providing more than Tk2.3 crore in emergency funding ...
PHNOM PENH, Cambodia: Cambodian villagers on the Mekong River have caught a stingray fish weighing 661 pounds, which is the ...
SYDNEY, NSW, Australia - Stocks across Asia rose on Monday, in a positive start to the week.The U.S. dollar was ...
TOKYO, Japan: Amidst semiconductor shortages and COVID-19 parts supply disruptions, Toyota has reduced its July global production target by 50,000 ...
NEW YORK CITY, New York: Electric vehicle (EV) sales could reach 33 percent globally by 2028, and 54 percent by ...
BERLIN, Germany: To prevent large increases in food prices, officials from G7 countries, including Germany and the UK, will push ...
WASHINGTON D.C.: The U.S. Food and Drug Administration (FDA) is preparing to order Juul Labs to stop selling its e-cigarettes ...
WASHINGTON D.C.: As average home prices surged to a record high, reaching the $400,000 mark for the first time, and ...