Egypt & European Union to Sign Major Gas Supply Deal

With nations looking to move away from Russian gas in light of the Russian invasion of Ukraine, the European Union has announced their intention to sign an agreement with Egypt, which will enable Egypt to supply the bloc with gas.

The deal is expected to be formally finalised when European Commission President Ursula Von Der Lyen comes to Cairo later this June.

The European Union aims to import 10 million tonnes of gas by the end of the decade, as well as produce the same amount for itself.

When signed, the deal would be a large step forward for Egypt’s ambitions to become a regional energy hub for Europe. In late 2021, Egypt signed a historic deal with Greece and Cyprus to connect their energy grids with an undersea electricity interconnection cable to get Egypt to supply Europe with renewable electricity.