While in Cairo, EU Energy Commissioner Kadri Simson signed a trilateral memorandum of understanding (MoU) on Wednesday 15 June between the EU, Egypt and Israel to bring fossil gas from these countries and other sources in the Eastern Mediterranean region to Europe.
The three parties thus commit to “to work collectively towards enabling a stable delivery of natural gas to the EU that is consistent with long-term decarbonisation objectives and is based on the principle of market-oriented pricing”.
The memorandum of understanding, concluded with the prior approval of the Member States (see EUROPE 12959/32), provides for, among other things, gas to be delivered via the Egyptian liquefied natural gas (LNG) export infrastructure.
It also includes an article stating that the parties will endeavour to promote the reduction of methane leakages, in particular by exploring new technologies to reduce venting and flaring and the possibilities of using captured methane throughout the supply chain.
Strengthening energy cooperation between the EU and Egypt
On the same day, European Commission President Ursula von der Leyen met with Egyptian President Abdel Fattah al-Sissi to discuss enhanced cooperation between the EU and Egypt on climate, energy and industrial transformation challenges ahead of COP27 in Sharm el-Sheikh in November.
“Egypt is (...) a crucial partner in our efforts to move away from Russian fossil fuels and towards more reliable suppliers”, Ms von der Leyen said on the occasion.
In particular, the two parties intend to establish a ‘Mediterranean Hydrogen Partnership’ to promote, among other things, investments in renewable energy, the extension of electricity grids, the production of renewable and low-carbon hydrogen and the export to the EU of hydrogen and hydrogen derivatives “compatible with EU regulations and definitions”.
See the Memorandum of Understanding: https://aeur.eu/f/24v
See the joint statement: https://aeur.eu/f/24w (Original version in French by Damien Genicot)