EU Signs Gas Deal With Israel, Egypt

    Photo: AP [via Al Jazeera]

    The Facts

    • Seeking to diversify away from Russian energy, the EU, Israel, and Egypt signed a natural gas export deal in Cairo on Wed., allowing significant exports of Israeli gas to Europe for the first time.

    • According to the European Commission Pres. Ursula von der Leyen, Israel has agreed to send natural gas from its offshore fields in the eastern Mediterranean via pipeline to Egypt, where it will be liquefied and shipped to Europe as LNG.

    The Spin

    Narrative A

    The EU has become increasingly distressed by Russian brutality in Ukraine and moved Europe toward a more fragmented energy strategy. This means the EU will buy smaller amounts of energy from a number of different countries. Europe can no longer afford to be depending on just one energy source and is prudently heading toward market diversification.

    Narrative B

    Europe and the EU have been hit by an electricity price crisis caused by failing politicians, not failing supply. The EU aims to be the world's environmental policy beacon but risks falling behind economically. The EU's overall energy policies' aims are honorable, but in practice, very difficult to implement due to mismanagement.

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