How Egypt benefits from gas agreement with Israel
Egypt and Israel agreed to establish a pipeline connecting Israel’s offshore Leviathan natural gas field to the liquified natural gas terminal in Egypt, a move that was hailed as a major step toward economic, political and security gains for Cairo.
CAIRO — Egypt and Israel agreed Feb. 21 to connect Israel’s offshore Leviathan natural gas field to liquified natural gas (LNG) facilities in northern Egypt via an underwater pipeline in order to increase gas exports to Europe.
The agreement came during the visit of Egyptian Minister of Petroleum and Mineral Resources Tarek el-Mulla to Israel Feb. 21 to “hold talks to support the goals and efforts of the Eastern Mediterranean Gas Forum.”
Israeli Prime Minister Benjamin Netanyahu also received Mulla, the first Egyptian minister to visit Israel in five years.
Speaking at the start of the meeting, Netanyahu said there was enough gas for both countries to meet their needs to become major exporters. He said the visit was an “important day” for cooperation in the energy field and other fields and he believed this was a new era of peace and prosperity.
