AhlulBayt News Agency: Israeli Prime Minister Benjamin Netanyahu announced on Wednesday that he had approved a gas deal worth 112 billion shekels (about 34.7 billion U.S. dollars), under which Israel will supply natural gas to Egypt.
Calling it “the largest gas deal in Israel’s history,” Netanyahu said that approximately 58 billion shekels from the agreement will go directly into the state treasury.
Netanyahu stressed that the deal is “economically and politically important,” noting that he approved it after considering “necessary security considerations,” though he did not disclose details due to their sensitive nature.
According to the U.S. outlet Axios, the unprecedented agreement is valued at $35 billion.
Energy Minister Eli Cohen, speaking alongside Netanyahu, described the approval of the deal as “a historic moment” for Israel both diplomatically and economically.
Cohen explained that the approval came after several months of intensive negotiations, adding that gas companies are expected to invest more than 16 billion shekels in infrastructure as part of the agreement.
The deal comes amid a major energy shortage in Egypt, where domestic gas production in 2024 stood at 4.2 billion cubic feet per day, while consumption reached 6.8 billion cubic feet per day.
As a result, Egypt currently relies on Israel for about 60% of its total gas imports. Imports rose to 1.1 billion cubic feet per day in October 2025, with plans to increase them further to 1.3 billion cubic feet per day by year’s end.
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