Israel Approves “Largest Ever” Gas Deal With Egypt
Occupied Palestine (QNN)- Prime Minister Benjamin Netanyahu announced on Wednesday that Israel has approved a natural gas agreement with Egypt, calling it Israel’s "largest ever" gas deal.
The deal is worth nearly $35b, Netanyahu said in a live address.
"This deal with the American Chevron company, with Israeli partners, will supply gas to Egypt," he said.
Israel signed the export agreement in August with Chevron and its partners, NewMed and Ratio, to supply up to $35 billion of gas to Egypt from the Leviathan natural gas field.
The US was reported to have played a significant role in pressuring Israel into the agreement with Egypt. Axios reported earlier this month that Washington’s interest in the deal stems from a desire to push Israel and Egypt into “warmer relations” through shared economic interests.
The deal comes as Israel continues to violate the ceasefire agreement in Gaza, with mediators including Egypt and Qatar blaming Israel for the fragility of the truce. This follows two years of genocide during which Israel has killed more than 70,000 Palestinians, imposed a total blockade on aid entering the enclave, and destroyed or damaged 92 percent of all residential buildings. Entire neighborhoods have been wiped out, leaving millions of Palestinians displaced and without shelter.
