Once a minor player in global energy markets, Israel is set to take on a bigger role as a gas supplier. And it comes at a crucial time. EU countries are seeking new sources, as they move away from Russia over its attack on Ukraine. And Israel won't be alone in getting energy supplies to Europe. It will be working with Egypt. Last week, the EU, Israel and Egypt singed a tripartite gas export deal that will provide the bloc with a new source of energy. European Commission chief Ursula von der Leyen hailed the agreement as a special moment. But analysts warn that Israel will fall short of replacing Russia. Last year, Moscow supplied nearly 40% of the EU's needs, or about 155 billion cubic meters of natural gas. During the same period, Israel only produced about 12 billion cubic meters. So will Europe's new, 'fragmented strategy' of having multiple, smaller sources of energy help end its dependence on Russia?

Guests:

Sohbet Karbuz

Energy Analyst

Tom Marzec-Manser

Head of Gas Analytics at ICIS