Overview
- The NIS 112 billion agreement with Chevron and Israeli partners will deliver about 130 bcm from the Leviathan field through 2040, with roughly NIS 58 billion projected for Israel’s treasury.
- Energy Minister Eli Cohen, who had withheld approval over terms, endorsed the final deal alongside the prime minister.
- NewMed confirmed export approval, while Egypt’s State Information Service said the arrangement has no political dimensions.
- Reporting cites U.S. pressure to finalize the pact as Washington seeks to strengthen Israel‑Egypt interdependence and advance regional diplomacy.
- Phased deliveries are expected to start in 2026 pending pipeline and processing expansions, as analysts say the gas will ease Egypt’s energy shortfall and NGOs in Israel seek greater transparency on reserves and pricing.