Israel joins new regional forum in hope of selling gas to Europe


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(Worthy News) – Against a backdrop of rapidly changing geopolitics in the Middle East, Israel on Tuesday joined Egypt, Jordan, Greece, Cyprus, Italy and the Palestinian Authority to sign the statute of the East Mediterranean Gas Forum (EMGF), formally establishing the brainchild of Israel and Egypt as a regional intergovernmental organization, based in Cairo.

The forum wants to cooperate on the establishment of a natural gas pipeline connecting Israel, Greece and Cyprus to Italy and on to Europe. The eventual aim is to supply the continent with ten percent of its gas.

The forum was initiated three years ago by Energy Minister Yuval Steinitz together with his Egyptian counterpart, Tarek El Mula. The Egyptians hosted Tuesday’s online signing, which followed the inking of a Memorandum of Understanding in January. [ Source: Times of Israel (Read More…) ]

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