Israel signs $35 billion natural gas supply deal with Egypt

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.