A few days after the flow of Israeli natural gas to Jordan had begun, the flow from Israel to Egypt is being inaugurated on Wednesday, following an announcement by the energy ministers of both countries at the Cairo Middle East Forum.
The two energy ministers, Israel’s Yuval Steinitz and Egypt’s Tarek Al Mulla, have noted that this is an important development that will serve the economic interests of both parties.
This agreement will also allow Israel to export some of its gas to Europe via Egypt.
Minister Steinitz said that “this is a holiday for the State of Israel. Cooperation between Israel and Egypt in the field of energy and gas to the tune of tens of billions of dollars is the first of its kind since the signing of the peace treaty between the two countries 40 years ago.”
Earlier this month, it was announced that representatives from Israel, Cyprus and Greece signed an agreement to establish the East-Med gas pipeline, to export natural gas from the offshore gas reservoirs of Israel and Cyprus to European countries. On hand at the signing ceremony in Athens were Prime Minister Benjamin Netanyahu and Energy Minister Steinitz.
Netanyahu said at the ceremony that it was a big day for Israel, which was turning into an energy superpower.
“We signed supply agreements with many neighbors, it boosts the economy,” Netanyahu said, adding, “We call on all the other countries that want to join the agreement – come and join.”
The total length of the planned pipe is about 1,200 miles, about a quarter of which will be on land, and the rest under the sea. The cost of the venture is expected to be about $6.67 billion and should be completed in five years.
Prior to the signing of the new agreement, Netanyahu held meetings with Greek Prime Minister Kyriakos Mitsotakis and Cypriot President Nicos Anastasiades.