Prime Minister Benjamin Netanyahu announced the approval of the largest energy agreement in Israel's history: a natural gas export contract with Egypt that promises to inject billions of shekels into the Israeli economy and consolidate the country as a central player on the regional energy map.
According to details provided by Netanyahu in a message together with Energy Minister Eli Cohen, the agreement — valued at 112 billion shekels (about 34.7 billion dollars) — will generate 58 billion shekels in revenue for the state.
In the first four years, the treasury will receive around 500 million shekels annually, a figure that will grow progressively until it reaches about 6 billion per year by 2033. These resources, the prime minister emphasized, will be allocated to education, health, infrastructure, security, and the well-being of future generations.
The contract is structured with U.S. company Chevron and Israeli partners, who will supply gas to the Egyptian market.
Netanyahu stressed that he gave the green light to the agreement only after ensuring that Israel's vital interests were preserved, including energy security and the obligation to sell gas to the domestic market "at a good price".
For the government, the impact goes beyond the economic dimension. "The agreement greatly strengthens Israel's position as a regional energy superpower and contributes to stability", Netanyahu stated, noting that it will also encourage new exploration in Israeli waters.
