Climate Politics
EU, Egypt Near Gas Supply Deal in Shift Away From Russia
- Memorandum of understanding could be agreed later this month
- Egypt is crucial partner following Russia’s Ukraine invasion
Photographer: Jasper Juinen/Bloomberg
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The European Union and Egypt are set to sign a deal later this month on supplying the bloc with gas as the bloc seeks to slash its dependence on Russian supplies, according to a draft document.
The two sides, and Israel, are poised to agree on a memorandum of understanding when European Commission President Ursula von der Leyen visits Cairo later this month, according to the draft statement. Bloomberg previously reported that such a deal would involve Israeli natural gas being liquefied at Egypt’s processing plants before being shipped to the EU. It may also contain measures to help stem leaks of methane, a powerful greenhouse gas.