“Israel Signs Record $35 Billion Natural Gas Export Deal with Egypt”

Derved tredobles den mængde gas, som Ægypten p.t. køber af Israel i løbet af de næste 15 år

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By Shula Rosen

The partners behind Israel’s Leviathan offshore gas field have finalized a groundbreaking $35 billion deal to supply natural gas to Egypt through 2040, marking the largest energy export agreement in Israel’s history.

Under the terms of the contract, approximately 130 billion cubic meters (BCM) of gas will be delivered to Egypt over the next 15 years or until the full quantity is supplied. The gas will be provided by the Leviathan partnership, which is led by NewMed Energy—formerly Delek Drilling and part of Yitzhak Tshuva’s Delek Group—with a 45.3% stake in the field located off Israel’s Mediterranean coast.

Leviathan, one of the largest deep-water gas finds globally, began serving Israel’s domestic market in 2019 and commenced exports to Egypt in early 2020. The newly signed agreement represents a major expansion, tripling the volumes previously exported. It accounts for roughly 22% of Leviathan’s current production capacity and 13% of Israel’s known natural gas reserves.

NewMed Energy said the deal will help advance the next phase of Leviathan’s development and support Israel’s energy needs well beyond 2040. The company called the agreement a strategic milestone for the region, citing natural gas as a driver of regional cooperation and stability.

The gas will be routed through Blue Ocean Energy, with the first 20 BCM scheduled for delivery starting in the first half of 2026. The remaining volumes will be supplied once production capacity increases. Though regulatory approval is pending, Israel’s Energy Ministry has already indicated support for exports up to 145 BCM, and NewMed expects final authorization soon.

To support the expanded export plan, infrastructure upgrades are planned, including a new pipeline connecting the Leviathan field to its production platform and an enhancement to the Ashkelon-Ashdod pipeline to boost capacity by 2 BCM annually.

Leviathan’s total output reached 11 BCM in 2024, split between Egypt, Israel, and Jordan. By 2035, around 60% of production is projected for export, with the remainder allocated to Israel’s growing domestic demand.

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35 mia $ over 15 år – det er også en sjat penge 🙂