LAST UPDATE: 10.11
Israel and the European Union will sign an agreement on gas exports on Wednesday during a regional energy conference in Cairo, the Israeli Ministry of Energy announced, according to Reuters.
The EU has said Israel could be a new source of gas as it seeks to reduce its dependence on Russian energy.
The agreement will allow for the first time “significant” exports of Israeli gas to Europe, the ministry said.
Officials say they expect Israeli gas to be sent to liquefaction plants in Egypt and then transported north to the European market.
The agreement will be signed by Israel, the EU and Egypt, according to the Israeli ministry.
Source: Capital
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