An agreement has been signed to export Israeli gas to Egypt, where it will be liquefied before exporting to Europe as the EU seeks to reduce dependency on Moscow.
Egypt, Israel and the EU have signed a memorandum of understanding in Cairo to export Israeli gas to Europe.
Israeli Energy Minister Karine Elharrar shared a video on her Twitter account for the signing of the trilateral deal on Wednesday.
"Today, Egypt and Israel together made commitment to share our natural gas with Europe and to help with the energy crisis," Elharrar said following the signing ceremony.
European Commission President Ursula von der Leyen welcomed the signing of the deal.
"I very warmly welcome the signature of this historic agreement between Israel, Egypt and the European Union," she said.
Reducing dependency on Russia
On Tuesday, the Israeli i24 news channel had reported that Elharrar will meet with Egyptian President Abdel Fattah el Sisi and other senior officials, including Minister of Petroleum and Natural Resources Tarek el Molla.
The officials signed the deal for transferring gas from Israel to Egypt via existing pipelines and then liquefying it in Egypt before exporting it to Europe.
"I am grateful that Israel will increase its supply of energy to the EU," von der Leyen said on Twitter.
Following Russia’s launch of its offensive in Ukraine, the EU has sought to reduce its dependency on energy supplies from Moscow and has searched for energy deals with other countries, including Israel and Egypt.