European Union Working to Forge Gas and Power Ties With Israel

The European Union continues to explore two “major” energy projects with Israel as it works to reduce its reliance on Russian fossil fuels, European Commission President Ursula von der Leyen said Tuesday.

One is a power cable connecting Israel with Cyprus and Greece. The other is a pipeline for natural gas and hydrogen in the eastern Mediterranean, Von der Leyen said in a speech in southern Israel.

The EU has reached out to multiple gas producers following Russia’s invasion of Ukraine in a bid to secure alternative supplies. Since the EU imported about 40% of its gas from Russia last year, it may need to tap numerous sources of the fuel —as well as raise renewables output—to meet demand.

The EU has been in talks with Israel in recent months about it sending gas to Europe via Egypt, which has liquefied natural gas export terminals.

“The Kremlin’s behavior only strengthens our resolve to break free of our dependence of Russian fossil fuels,” Von der Leyen said. “We are now exploring ways to step up our energy cooperation with Israel.”

Israeli Energy Minister Karine Elharrar recently reversed a plan to halt new gas exploration in the eastern Mediterranean, announcing that a licensing tender will begin later this year.

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Source:: Time – Business


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