Gas, Italy and the EU are focusing on Egypt and Israel: that’s why

The price of gas in the Dutch benchmark, a European reference, rises to over 100 euros per megawatt hour. The leap is the result of various dynamics: from the gas reductions announced by Gazprom on Nord Stream 1 and on flows directed to Eni up to the news that the hub in the Gulf of Texas, from which the US LNG leaves for Europe, is at a standstill . With an energy war that frightens Europe again, the search for new partners for gas supplies continues. Egypt and Israel are in the foreground. First of all, the rumor has leaked that Eni is in talks to increase gas imports from Egypt to Italy and Europe. The Italian giant already has an agreement with the Egyptian energy company EGAS to increase the flow of liquefied natural gas to Europe by 3 billion cubic meters per year.The new – potential – agreement would see Eni and Egypt add export capacity in Italy beyond this level within the next two years. In addition, the EU has signed a memorandum of understanding with Egypt and Israel, for an agreement on Israeli liquefied gas passing through Egyptian processing plants before being shipped to Europe. In this context, the simultaneous visit of Draghi and von der Leyen in Tel Aviv is a clear signal of how close the web of diplomatic relations is growing with states that can sell fuel and replace Russia. a pipeline for natural gas and hydrogen in the eastern Mediterranean As regards Italy, Tel Aviv is crucial to exploit the Leviathan, a huge field 130 km from Haifa in the exclusive economic zone bordering the Zhor field, in Egypt, discovered reserves of 600 billion cubic meters are expected, which would become 900 by adding to the Tamar field, active since 2013.