Egypt stated that its natural gas deal with Israel is a purely commercial agreement without political implications, negotiated by private energy companies without government involvement.
Israel recently approved a $35 billion gas export deal with Chevron and partners to supply Egypt from the Leviathan gas field. This deal comes amidst increased regional tensions following the October 7 attack by Hamas and Israel’s military response.
Egypt maintains firm support for Palestinian rights and a two-state solution. Israeli Prime Minister Netanyahu called the deal the largest in Israel’s history and a step toward regional stability.
The Leviathan field will supply about 130 bcm of gas to Egypt through 2040, as Egypt has faced declining gas production since 2022.
With information from Reuters
