Netanyahu: Israel $34.67 billion gas deal with Egypt
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- 'Israel' reaches gas deal with Egypt.
- Prime Minister Netanyahu calls it the largest gas agreement in 'Israeli' history.
'Israel' has approved a historic natural gas export deal with Egypt, Prime Minister Benjamin Netanyahu announced on Wednesday, calling it the country’s “largest ever” gas agreement.
“I have today approved the largest gas deal in Israel’s history. The deal is for 112 billion shekels (USD 34.67 billion),” Netanyahu said in a televised statement. “This deal with the American Chevron company, with Israeli partners, will supply gas to Egypt.”
The deal, originally signed in August but delayed due to outstanding issues, will provide gas from 'Israel’s' Leviathan field to Egypt. Netanyahu emphasized that the agreement would help "ensure stability in the region."
The export is expected to ease Egypt’s energy crisis, as the country has spent billions on importing liquefied natural gas after domestic production began declining in 2022.
