President Abdel-Fattah El-Sisi discussed on Tuesday 22/3/2022 recent global developments with Abu Dhabi Crown Prince Mohamed bin Zayed Al Nahyan and Israeli Prime Minister Naftali Bennett, especially with regards to energy, market stability, and food security.
During their meeting in the Red Sea resort city of Sharm El-Sheikh, the leaders also exchanged visions on the latest developments in a number of international and regional issues, Egyptian presidency spokesman Bassam Rady said in a statement.
This is the second visit by Bennet to Egypt in six months and the second by an Israeli prime minister since 2011. El-Sisi and Bennet’s last meeting was in September in Sharm El-Sheikh.
Both countries are members of the Eastern Mediterranean Gas Forum (EMGF), which was established in 2019 as an international organisation headquartered in Cairo and also includes Palestine, Cyprus, Greece, Jordan, and Italy as founding countries.
Egypt has achieved self-sufficiency in natural gas since 2018 and has since been seeking to become a regional energy hub and to export LNG, thanks to its huge gas discoveries and production, which is expected to rise to 7.5 million tonnes by the end of the 2021/2022 fiscal year.
In early 2020, Israel began exporting natural gas to Egypt under a deal signed between a private firm in Egypt, Dolphinus Holdings, and Israel’s Leviathan and Tamar offshore fields over 15 years, according to Reuters while in November both countries signed a Memorandum of Understanding (MoU) to increase natural gas supplies from Israel to Egypt for re-exporting purposes.
Source: State Information Service Egypt