# Netanyahu approves $35 billion Leviathan gas export deal with Egypt
Israel says the long-term Chevron-led agreement will send natural gas from Leviathan to Egypt over 15 years and strengthen regional energy ties.
Israeli Prime Minister Benjamin Netanyahu said on the event date that he had approved a $35 billion natural gas export deal with Egypt, the largest gas agreement in Israel’s history and one that could help reset a strained regional relationship after the Gaza war. The deal would send gas from the Leviathan field to Egypt over the next 15 years through U.S. energy giant Chevron, one of the field’s key owners.
Netanyahu described the agreement as strategically significant, saying it would strengthen Israel’s position as a regional energy power and contribute to stability. The financial scale is large by any measure: half the proceeds are expected to flow into Israel’s state coffers, making the deal not just an energy export arrangement but a meaningful revenue source for the government as well.
The announcement matters because Egypt has played a central diplomatic role during the war. Cairo has served as a key mediator between Israel and Hamas in the ceasefire process and has also been one of the most vocal critics of Israel’s military campaign in Gaza. A gas deal of this size therefore carries economic weight and political symbolism at the same time.
Egypt did not immediately confirm Netanyahu’s announcement, leaving the public understanding of the deal dependent on Israel’s statement for the moment. Even so, the contours of the arrangement were clear in the official remarks: a long-term export commitment, a major role for Chevron, and a direct link between energy trade and broader regional politics. Israeli Energy Minister Eli Cohen, who had previously delayed the agreement over concerns that the terms were not favorable to Israel, stood with Netanyahu for the announcement and said he backed the final version.
Israel discovered its offshore gas fields in the early 2000s and began exporting gas nearly a decade ago, first to Jordan and later to Egypt. The Leviathan deal extends that history on a far larger scale, reflecting how Israel’s offshore energy reserves have become part of its diplomatic and economic toolkit. The agreement also arrived alongside another major defense development, with German lawmakers approving an expansion of Israel’s Arrow 3 missile defense deal. But the gas export accord stood out as the most direct economic announcement of the day, combining long-term revenue, energy security, and regional diplomacy in one package.
