EU drafting deal to obtain natural gas from Israel and Egypt instead of Russia

From EUObserver:

The European Union is negotiating a gas supply agreement with Egypt and Israel, according to internal documents dated 7 June and seen by EUobserver.

A draft memorandum of understanding with the two countries, still subject to changes, is part of its efforts to reduce its dependence on Russian fossil fuels in the wake of Moscow's invasion of Ukraine.

"Security of gas supply is a common major concern. Egypt and the EU will work together on the stable delivery of gas to the EU," reads another internal document mentioning the trilateral collaboration deal.

The proposed agreement highlights that natural gas will be shipped to the EU from Egypt, Israel or any other source in the East Mediterranean region, including EU member states in the region.

European Commission president Ursula von der Leyen is due to travel to Cairo next week, but it is currently unclear whether the memorandum will be signed during her visit.

Egypt has increasingly become a regional gas hub, with its two liquefied natural gas (LNG) facilities even before the Russian invasion of Ukraine. But Israel has also become a key regional gas supplier in recent years.

Under the draft deal, imports from Israel would involve gas being processed at Egypt's liquefaction plants before being shipped to Europe as LNG.

Mediterranean natural gas has been a game changer for Israel - not as earthshaking as the Abraham Accords, but it is redrawing the regional balance in ways that couldn't have been predicted.

Meanwhile, Hezbollah's Hassan Nasrallah is threatening Israel - and a Greek ship - for exploring in gas fields that the UN said belongs to Israel but Lebanon disputes:

Lebanon should block Israel from extracting gas from the disputed offshore field, Hezbollah chief Sayyed Hassan Nasrallah said Thursday, warning a hydrocarbon exploration company hired by Israel against proceeding with its activities.

"The immediate objective should be to prevent the enemy from extracting oil and gas from the Karish gas field," part of which is claimed by Lebanon, Nasrallah said in a televised speech.

Hizbullah will not "stand by and do nothing in the face of (Israel's) looting of Lebanon's natural wealth... which is the only hope for the salvation of the Lebanese people," he warned.

The company "should pull out its ship immediately and avoid getting involved in this aggression and provocation against Lebanon," the head of the powerful Iran-backed movement said, adding that Energean must assume "full responsibility" for its involvement.

“The resistance has the technical ability to prevent the enemy from extracting gas from Karish and I will not say how,” Nasrallah added.

“All of the enemy's measures will not be able to protect the Greek ship or the Karish field,” he warned.

If Lebanon had crafted a maritime border agreement with Israel years ago, it could have been selling gas to Europe by now. Instead it is a country on the verge of failure, in large part because of people like Nasrallah.

 

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