The agreement was unveiled at a joint press conference with Israeli Energy Minister Eli Cohen. Israeli media outlet Channel 14 quoted Netanyahu as calling the deal an “economic and strategic achievement.” Under the agreement, Israel will export large quantities of natural gas to Egypt for many years from gas fields under Israeli control, with US-based energy giant Chevron responsible for supply operations.
Egypt, which once achieved relative self-sufficiency in natural gas and even exported it for a period, is now set to import gas worth billions of dollars from Israel. Energy Minister Cohen said the overall value of gas agreements with Cairo stands at $112 billion, with $58 billion expected to flow into Israel’s public treasury. He added that annual state revenues could reach $6 billion by 2033.
Netanyahu said the deal would strengthen Israel’s position as a regional energy power and contribute to regional stability. Israeli sources said the agreement had been pending for months and was approved following pressure from the Trump administration. Egypt has yet to issue an official response.
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