Israel, Egypt Sign $35B Leviathan Gas Export Deal

Egypt has finalized a landmark $35 billion deal with partners of Israel's Leviathan offshore gas field to import about 130 billion cubic meters of natural gas through 2040, marking the largest export agreement in Israel's history. The agreement will nearly triple annual gas deliveries from Leviathan to Egypt, increasing from 4.5 to as much as 12.5 billion cubic meters by 2033. The gas will be supplied to Egypt's Blue Ocean Energy, with infrastructure upgrades including a new pipeline. This deal responds to Egypt's rising domestic energy demand and declining local production, while also reflecting recent regional supply disruptions. Since exports began in 2020, Leviathan has already delivered 23.5 billion cubic meters of gas to Egypt. The partnership strengthens Egypt's position as an energy hub in the Eastern Mediterranean and paves the way for further cooperation.