17.12.2025 22:40
A $35 billion natural gas deal has been signed between Israel and Egypt. Israeli Prime Minister Netanyahu announced the agreement as "the largest natural gas deal in the country's history."
Israeli Prime Minister Benjamin Netanyahu announced that the $35 billion natural gas agreement reached with Egypt, which he described as "the largest in the country's history," has been approved.
$35 BILLION AGREEMENT BETWEEN ISRAEL AND EGYPT
In a joint press conference with Energy Minister Eli Cohen, Netanyahu stated that the agreement worth 112 billion shekels ($35 billion) with Egypt is "the largest natural gas agreement in Israel's history."
"THERE WILL BE MORE PLEASANT SURPRISES"
Netanyahu mentioned that $18 billion from the revenue generated by the natural gas agreement would go directly to the treasury, asserting that the agreement with Egypt significantly strengthens Israel's regional position in the energy sector. He concluded his speech by saying, "There will be more pleasant surprises."
On August 7, the "NewMed" energy company, one of the partners in Israel's largest natural gas field in the Mediterranean, Leviathan, announced that a natural gas export agreement worth $35 billion had been signed with Egypt. The statement indicated that 130 billion cubic meters of natural gas would be exported from the Leviathan field to Egypt by 2040.
THEY HAD ALSO SIGNED AN AGREEMENT IN 2019
The announcement stated that the agreement would pave the way for the expansion of Leviathan, with the goal of ensuring natural gas supply to the Israeli market until 2064.
An agreement covering the supply of 60 billion cubic meters of gas was signed between Egypt and Israel in 2019. Gas supply to Egypt began shortly after the Leviathan field became operational in 2020.
Last year, a significant portion of the 11.33 billion cubic meters of natural gas produced at the Leviathan gas field was exported to Egypt and Jordan.