Israel’s Leviathan Field Inks Record $35 Billion Gas Supply Deal with Egypt
Israel’s Leviathan natural gas field has sealed a groundbreaking $35 billion deal to supply gas to Egypt through 2040, representing the largest export agreement in Israeli history. The Mediterranean offshore field, holding reserves of approximately 600 billion cubic meters, will deliver about 130 billion cubic meters of gas under the new contract.
The deal builds on an existing relationship that began in 2020 when Leviathan started supplying Egypt shortly after production commenced. An initial 2019 agreement for 60 billion cubic meters is expected to be fully delivered by the early 2030s, with Leviathan having already supplied 23.5 billion cubic meters since operations began.
The massive contract underscores the growing energy partnership between Israel and Egypt, with the Leviathan reservoir serving as a crucial source of regional energy security. The field’s substantial reserves position it as a major player in Eastern Mediterranean gas markets.
Source: timeslive.co.za
