Worth 35 billion dollars.. Egypt imports natural gas from the Israeli Leviathan field
August 7, 2025112 ViewsRead Time: 2 minutes
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Newmed, one of the partners in the Israeli Leviathan natural gas field, said on Thursday that the field has signed a deal worth up to 35 billion dollars to supply Egypt with natural gas, which is the largest export deal for Israel ever.
The deal is expected to alleviate the energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas since its supplies have not met demand.
Egypt's production began to decline in 2022, forcing it to abandon its ambitions to become a regional supply hub. Egypt has increasingly turned to Israel to compensate for this shortfall.
During the 12-day war between Israel and Iran in June, exports from the Leviathan field were halted for security reasons, but they were resumed afterward.
The Leviathan field, located in the Mediterranean Sea off the coast of Israel with reserves of about 600 billion cubic meters, intends to sell about 130 billion cubic meters of gas to Egypt by 2040 or until all quantities stipulated in the contract are fulfilled.
In an interview with "Reuters" on Thursday, Newmed CEO Yossi Abu said: "This is much, much better than any alternative for liquefied natural gas, and it will save billions of dollars for the Egyptian economy."
The deal is expected to alleviate the energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas since its supplies have not met demand.
Egypt's production began to decline in 2022, forcing it to abandon its ambitions to become a regional supply hub. Egypt has increasingly turned to Israel to compensate for this shortfall.
During the 12-day war between Israel and Iran in June, exports from the Leviathan field were halted for security reasons, but they were resumed afterward.
The Leviathan field, located in the Mediterranean Sea off the coast of Israel with reserves of about 600 billion cubic meters, intends to sell about 130 billion cubic meters of gas to Egypt by 2040 or until all quantities stipulated in the contract are fulfilled.
In an interview with "Reuters" on Thursday, Newmed CEO Yossi Abu said: "This is much, much better than any alternative for liquefied natural gas, and it will save billions of dollars for the Egyptian economy."
