Egypt seeks to boost gas exports to Europe as Russia-Ukraine war drags on

Egypt hopes to boost its natural gas exports at a time when European Union (EU) countries are gradually giving up reliance on Russian hydrocarbons, including gas, in the wake of Russia’s invasion of Ukraine.

The EU obtains around 40% of its natural gas needs from Russia. Amid the absence of an accessible alternative and in case the provision of supplies is obstructed, the EU countries hope to decrease their Russian gas imports by two-thirds in 2022, as part of a plan for independence from Russian fossil fuel by 2027.