Historic USD35 Billion Gas Deal between Israel and Egypt Strengthens Regional Ties

Israeli Prime Minister Benjamin Netanyahu announced the approval of a USD35 billion natural gas export deal with Egypt. This landmark agreement marks the largest gas deal in Israeli history and aims to bolster Israel's position as a regional energy power, potentially improving strained relations with Egypt.

In a groundbreaking announcement, Israeli Prime Minister Benjamin Netanyahu disclosed the approval of a USD35 billion natural gas export deal with Egypt, hailing it as the largest agreement of its kind in Israel's history. The export, managed by US energy giant Chevron, will span over the next 15 years, delivering substantial proceeds to Israel.

This significant deal could mark a turning point in Israeli-Egyptian relations, which have been under strain due to recent conflicts in Gaza. Despite initial resistance from Israeli Energy Minister Eli Cohen, who delayed the agreement citing unfavorable terms, he now stands in support alongside Netanyahu, endorsing its final conditions.

Furthermore, in a separate development, Israel's defense collaboration with Germany is taking center stage, with German lawmakers approving a USD6.5 billion expansion of the Arrow 3 missile defense agreement, marking Israel's largest defense export deal to date.

(With inputs from agencies.)