About Egypt – Israel could replace 10% of Russian gas with EU


With its gas reserves in the Eastern Mediterranean, Israel can replace about ten percent of the Russian gas that Russia has previously supplied to Europe. Israeli Prime Minister Jair Lapid said this on Monday after a meeting with Chancellor Olaf Scholz in Berlin. He hopes Israel can expand its supplies as early as 2023.

The country had signed a contract with Egypt and the European Commission to supply gas to the EU via Egypt. Scholz stressed that any contribution from alternative gas supply would be helpful.

Even if the Israeli gas doesn’t make it to Germany, it will end up on the world market and help push the price down. In the EU, however, an expansion of the pipeline infrastructure to southern Europe is also necessary.

Source: Krone


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