A draft European Union agreement with Egypt and Israel on boosting gas imports from the eastern Mediterranean has been drafted by the European Commission in a bid to reduce the bloc’s dependence on Russian fossil fuels, according to the European Commission. Reuters.
The draft memorandum of cooperation is dated June 7, according to the agency, and is still subject to change while requiring approval from the governments involved.
“The gas that will be sent to the European Union will come from either the Arab Republic of Egypt, the state of Israel or any other source in the Eastern Mediterranean region, including the EU member states in the region,” the nine-page document said. .
The EU has publicly stated that it intends to conclude a tripartite agreement with Egypt and Israel before the summer.
Meanwhile, Commission President Ursula von der Leyen is due to visit Cairo next week.
The European Commission declined to comment on the draft agreement, and whether Von der Leyen’s trip is related to the signing of the memorandum of understanding.
The draft agreement sets out the principles for enhanced cooperation between the three partners, but does not specify the amount of gas the EU will import or set a timetable for deliveries.
The memorandum of cooperation will last for nine years from its signing, according to the draft, although this may change.
Source: Capital
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