In a move that could reshape the modern Mediterranean energy landscape, Benjamin Netanyahu, Prime Minister of Israel, approved a natural gas export agreement with Egypt worth approximately $35 billion, the largest energy contract in the country’s history.
The deal, which will remain in force for the next 15 years, was officially announced this Wednesday and includes supplying gas to the Egyptian market with the participation of the U.S. company Chevron, one of the main operators of fields in the Eastern Mediterranean.
Netanyahu said the agreement “greatly strengthens Israel’s position as a regional energy power and contributes to stability in our region,” at a time when bilateral relations between the two countries have been under pressure due to the conflict in Gaza.
Why is this agreement so important for both countries?
Beyond its economic impact, exporting gas to Egypt reinforces strategic cooperation between two neighboring countries and could open new energy and diplomatic opportunities in the Middle East.
