US EditionHow the $35 Billion Gas Deal Between Israel and Egypt Makes Sense for the US
Israel will supply Egypt with 130 billion cubic meters of natural gas from the Leviathan field, generating $18 billion in revenue for Israel over 15 years.
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3 Articles
NADIM KOTEICH: Gas deal survives Gaza ordeal
STORY Israel approved a $37 billion gas export deal with Egypt on December 17, the largest energy agreement in the country's history. Chevron and NewMed Energy will pump up to 130 billion cubic meters from the Leviathan field through 2040. Israel collects $18 billion in taxes and royalties. Egypt feeds its growing energy demand and re exports LNG to Europe through its Idku and Damietta terminals. The deal was announced in August, despite war in …
The Energy Minister downplayed the allegations of "gas robbery," and emphasized the strategic and economic contribution of the agreement. Cohen also referred to the October 7th investigation committee, which he said, "everything needs to be investigated," and warned: "If Iran goes back to nuclear - Israel will act."
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