Israeli Prime Minister Benjamin Netanyahu has approved a $35 billion natural gas export deal with Egypt, marking the largest energy agreement in Israel’s history. The government described the deal as a strategic and economic milestone, aimed at boosting state revenue, supporting domestic development, and strengthening Israel’s position as a regional energy leader.
The agreement, first signed in August, will see gas from Israel’s Leviathan offshore field exported to Egypt over a period of 15 years, or until the contract volumes are fulfilled. Deliveries will be handled by Israeli energy companies in partnership with US firm Chevron, with exports expected to begin in early 2026.
Netanyahu emphasized that about half of the revenue from the deal will flow into Israel’s state treasury, funding critical public services including education, healthcare, infrastructure, and national security. “This agreement is historic for Israel, both economically and strategically,” he said, highlighting the country’s growing role as a regional energy supplier.
Israel’s Energy Minister Eli Cohen said the government has included measures to ensure natural gas remains affordable for Israeli consumers, even as exports increase. He described the deal as a major step in securing Israel’s energy future and supporting regional stability through energy cooperation.
For Egypt, the agreement comes at a time when the country faces energy shortages and has been working to diversify its energy sources, including increasing reliance on imported gas to supplement domestic production. While the Egyptian government has not yet issued an official statement, analysts expect the deal to help meet the country’s growing energy demand.
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