The energy ministers of Israel, Egypt and the EU signed a memorandum of understanding to export Israeli gas to Europe, at a ceremony in Cairo on Wednesday.

The agreement comes as Europe looks for alternative sources of energy to Russia in light of its invasion of Ukraine.

The gas will be transferred from Israel to Egypt via an existing pipeline, and Egypt will use its facilities to liquefy the gas for export to ensure a steady stream of natural gas to Europe, while ensuring the energetic security of all sides.

In addition, the sides agreed to work on a plan to make gas exports to Europe more efficient. The EU will encourage European companies to take part in searching and producing natural gas in Israeli and Egyptian economic waters.

Source: Jerusalem Post