Israeli Prime Minister Benjamin Netanyahu announced on Wednesday evening that he has approved a major agreement to sell natural gas to Egypt valued at $35 billion.
اضافة اعلان
In a televised address, Netanyahu said: “Today I approved the largest gas deal in Israel’s history. The value of the agreement is 112 billion shekels ($34.7 billion), of which 58 billion shekels ($18 billion) will go to the state treasury.”
He added that the agreement with the US-based company Chevron, in cooperation with Israeli partners, will involve supplying gas to Egypt.
Netanyahu said the financial returns would be used to “strengthen education, healthcare, infrastructure, security, and the future of coming generations.”
He added: “This deal will significantly enhance Israel’s status as a regional energy power and will contribute to the stability of our region.”
In August, Israel’s NewMed Energy announced the signing of a $35 billion agreement to supply Egypt with natural gas.
A report published by the company indicated that the deal would raise the total volume of gas supplied to Egypt to 130 billion cubic meters.
In a statement issued late Wednesday, NewMed Energy said it had received “approval to export gas to Egypt, enabling the implementation of a deal estimated at around $35 billion.”
The company quoted its CEO as saying: “This is a historic day for the natural gas sector, ensuring continued investment in Israel and creating regulatory stability for the coming years.”
AFP
