Netanyahu confirms Israel’s largest-ever natural gas deal with Egypt
Israel announces biggest natural gas deal in its history
- Israeli Prime Minister Benjamin Netanyahu announced the approval of a $35 billion natural gas export deal with Egypt, marking the largest gas agreement in Israel's history.
- The deal aims to strengthen Israel's regional energy standing and contribute to stability, potentially repairing relations strained by the conflict in the Gaza Strip.
- US energy giant Chevron will deliver the gas over 15 years, with half of the proceeds expected to benefit Israel's state coffers.
- The agreement was announced after initial delays caused by Israeli Energy Minister Eli Cohen, who had previously deemed the terms unfavourable but now supports the deal.
- Separately, German lawmakers approved a $3bn expansion to a defence agreement for Israel’s Arrow 3 missile defence system, increasing its value to $6.5bn and making it Israel's largest defence export deal.