The $35 billion deal for the export of gas to Egypt is officially underway. Prime Minister Benjamin Netanyahu has confirmed in a recorded video announcement that he has given approval to the deal after months of expectation.
As reported by “Globes” last week, after long discussions between the gas exploration partnerships, the Ministry of Energy and Infrastructure, and the Prime Minister’s Office, it was decided to allow the export of 130 BCM (billion cubic meters) of gas, which amounts to 22% of the Leviathan reservoir and almost 13% of Israel’s total natural gas capacity. The deal will triple Israel’s gas exports to Egypt, and is earmarked for financing substantial infrastructure work in the Leviathan reservoir that will increase its production rate.
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The partners in the Leviathan reservoir – NewMed Energy (45.33%), Chevron (39.66%, and Ratio (15%) – agreed to a guaranteed price for the domestic market. They also agreed to give priority to supplying the domestic market in the event of a breakdown in the Karish, Tanin, or Tamar reservoirs.
NewMed Energy CEO Yossi Abu said, “This is a historic day for the natural gas industry that ensures continued investment in Israel and cerates regulatory stability for years to come. Approval of the exports guarantees attractive prices and energy security for Israel, and paves the way to the investment of billions in expanding Leviathan. We now intend to make a final investment decision on the expansion project very shortly.”
On the Tel Aviv Stock Exchange this morning, NewMed Energy is up 3.24% and Ratio is up 3.37%.
Published by Globes, Israel business news – en.globes.co.il – on December 18, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
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