Egyptian Oil Minister Tarek El Molla believes that “today represents an important step to strengthen relations in the eastern Mediterranean between Egypt, Israel and Europe” following the signing of a memorandum of understanding between Egypt and the European Union. Israel will increase gas exports to the European Union.

In turn, the President of the European Commission, Ursula von der Leyen, indicated that “the purpose of the agreement is to supply energy to consumers at affordable prices”, believing that “this agreement is historic, and it is the beginning of a long successful energy history in the region.”

Israeli Energy Minister Karen Al-Harr also explained that “the memorandum of understanding is a commitment to share gas with Europe and help it diversify its energy sources.” She indicated that “the gas export agreement with the European Union will be in effect for 3 years with an automatic two-year extension” and stated that “Egypt and Israel have committed to exchange natural gas with Europe to help counter energy problems.” a crisis.”