Netanyahu announces $35bn Israel–Egypt gas deal amid US push for summit
Israeli Prime Minister Benjamin Netanyahu has announced a $35 billion natural gas agreement with Egypt, describing it as the largest gas deal in Israel’s history, as the United States intensifies efforts to bring the two leaders together for talks.
In a televised address on Wednesday, Netanyahu stated that the deal, valued at approximately 112 billion shekels ($34.6 billion), would involve supplying Israeli gas to Egypt through an arrangement with US energy giant Chevron.
“This agreement significantly strengthens Israel’s position as a regional energy power and contributes to stability in our region,” Netanyahu said, adding that it would encourage further foreign investment in gas exploration within Israel’s offshore waters.
Sources familiar with the matter said Israel had delayed formal approval of the deal for several months before proceeding, following pressure from the administration of US President Donald Trump.
Trump has been seeking to arrange a summit between Netanyahu and Egyptian President Abdel Fattah el-Sisi as part of broader efforts to expand regional cooperation and build on the Abraham Accords.
Egypt has yet to issue an official response to the announcement. Requests for comment were sent to the country’s Ministry of Petroleum and Mineral Resources.
Israel and Egypt signed a historic peace treaty in 1979, but their leaders have not held a public meeting in nearly a decade. Another Israeli source said Netanyahu’s announcement was intended to help pave the way for a potential meeting with Sisi.
Netanyahu is expected to travel to the United States later this month for talks with Trump at his Mar-a-Lago residence. He was previously slated to attend a peace summit in Sharm el-Sheikh in October but withdrew at the last minute.
Despite longstanding diplomatic ties, relations between Netanyahu and Sisi have remained strained, even as Egypt continues to play a central role in mediation efforts linked to the Gaza conflict.
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