Egypt strengthens its collaboration with Israel and Greece in natural gas and positions itself as an energy hub in the eastern Mediterranean
Signing of a memorandum of understanding with Israel
The agreement aims to increase Israeli exports of natural gas to Egypt. The objective is also to use the existing Egyptian infrastructure (Damietta and Idku liquefaction plant) to produce LNG which would then be re-exported to Greece. The MoU is also paving the way for the transport of green hydrogen between the two countries.
Egypt and Israel are also planning to build a new pipeline at an estimated cost of $ 200 million that would increase exports by an additional 3 to 5 billion m3 annually. This new infrastructure would be built in North Sinai.
Signature of a memorandum of understanding with Greece
While the two countries are already committed to an agreement providing for the export of gas from the Cypriot Aphrodite field to Egypt, Greece and Egypt plan to increase their collaboration and jointly explore the entire chain. value of LNG (exploration-production and marketing). The two countries are even considering a new submarine pipeline to increase the quantities traded between the two countries.
The agreement also provides for mergers between the Egyptian state-owned Egyptian Natural Gas Holding Company (EGAS) and Greek importers, including the Public Gas Corporation of Greece (DEPA).
Source French Embassy in Lebanon