Israel signs record gas deal with Egypt

Israel has signed a record agreement with Egypt on gas supplies. According to the agreement, the Israelis will supply Egypt with $35 billion worth of natural gas.

According to the agreement, Egypt will purchase approximately 130 billion cubic meters of gas - representing 22% of Leviathan's reserves and 13% of Israel's total natural gas resources.

Deliveries will begin in 2026 with an initial 20 billion cubic meters, followed by an additional 110 billion cubic meters in later years.

To support these exports, Israel plans to bring the Ashkelon-Ashdod pipeline into operation.

Under the agreement, 60% of Leviathan's output will be exported while 40% will remain for domestic use in Israel.