Israel’s Leviathan natural gas field has signed the largest export agreement in the country’s history, worth up to $35 billion to supply gas to Egypt, NewMed, one of the partners in the field has said. The deal should ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas since its own supplies fell short of demand. Egypt’s production began declining in 2022, it has increasingly turned to Israel to make up the shortfall. Exports from the gas field were halted during a 12-day war between Israel and Iran in June but have since resumed.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Islamabad-Tehran-Istanbul freight train launched

The Islamabad-Tehran-Istanbul freight train, according to Railways Minister Azam Khan Swati, will…

UN cutting international staff in Gaza by a third due to safety concerns

The United Nations is cutting its international staff in Gaza by around…

Man released from California prison after 38 years following DNA test

Maurice Hastings, 69, who spent more than 38 years behind bars for…

Israel’s war on Gaza hits 200th day amid plans to invade Rafah

The Israeli army’s devastating onslaught on Gaza has entered its 200th day…