Israel agrees to increase gas exports to Egypt

By Anadolu staff

JERUSALEM (AA) – The Israeli government has approved a proposal to expand gas pipelines towards Egypt to increase exports.

The proposal suggests building new pipelines to allow "an extra six billion cubic meters (BMC) of natural gas to be exported to Egypt annually," the Energy Ministry said in a statement.

According to the ministry, the 65-kilometers pipelines are expected to bring nearly 200 million shekels ($55.6 million) in revenues annually for Israel.

"Cooperation between the [two] countries, [Israel and Egypt], will strengthen the economy, strengthen the well-being of the citizens of the State of Israel and strengthen regional stability," Energy Minister Israel Katz said.

"I will continue to work for its expansion in the fields of natural gas, renewable energies, hydrogen and energy storage," he added.

Egypt and Jordan are main importers of Israeli gas. While Jordan uses the gas to cover its daily needs, Egypt re-exports gas to Europe after liquefying it in its plants.

Israel’s gas fields produce some 28 BMC annually where one-third of such quantity is exported to Egypt and Jordan.

*Writing by Ahmed Asmar