Israel has given final approval to a $37 billion deal to increase natural gas exports to Egypt. Israeli Prime Minister Benjamin Netanyahu hailed the agreement as the largest in Israel’s history, promising to boost state revenue and cement its role as a regional energy power. The pact, primarily involving Chevron and Israel’s NewMed Energy, extends a 2019 arrangement and will see Egyptian terminals process and re-export fuel to Europe. Companies announced the deal last August. Israel’s delayed approval of the permit highlights the complex negotiations and diplomatic pressures involved amid the ongoing war in Gaza. The finalized agreement underscores the vital economic and strategic ties between the two neighbors, providing stability and meeting critical energy needs at a pivotal geopolitical moment.
The New York Times