Israel, Egypt, and the European Commission are holding intensive consultations on how to export surplus gas from the Eastern Mediterranean to Europe, Kathimerini reported.

European Commissioner for Energy Kadri Simson is pushing for the signing of a memorandum of understanding ahead of the upcoming meeting of the Eastern Mediterranean Gas Forum (EMGF) in Cairo on June 16 and 17, which EC President Ursula von der Leyen will probably attend.

The memorandum of understanding provides for an agreement to export Israeli and Egyptian natural gas to Europe. How this will be done is not yet specified.

In the case of Greece, it will involve transporting gas through pipelines that will go either to Crete or mainland Greece. Transportation of liquefied natural gas (LNG) also remains a priority.

However, Ankara still considers Turkey to be the best solution for such a project. However, the solution that all players consider the most viable is to transport gas in the form of LNG. The question remains whether LNG will stop at a Turkish port other than the Greek port.

The consultation comes amid pressure on Europe because of the war in Ukraine to diversify its energy sources, and this is one of the reasons why Israeli Energy Minister Karine Elharrar  decided to announce a new tender for the exploration of hydrocarbons in offshore fields, despite the fact that a year ago this prospect was excluded. Commenting on the memorandum of understanding between Israel, Egypt and the EC, she said that it would provide infrastructure for transportation of Israeli gas through Egypt.

She also said that the agreement will allow natural gas trading companies to make their own deals for exporting Israeli gas to Egypt and from there to liquefy and transport it to Europe.