NewMed Energy and its Leviathan partners have signed Israel’s largest-ever export deal, agreeing to supply 130 billion cubic meters (BCM) of natural gas to Egypt by 2040. The agreement, worth $35 billion, will be delivered in two phases.
Phase One, beginning in 2026, will add 20 BCM of exports following key infrastructure upgrades, including a third pipeline and the Ashdod–Ashkelon transmission line. Phase Two will add 110 BCM once the Leviathan Expansion Project and a new pipeline via Nitzana are complete, increasing Leviathan’s annual capacity by around 30%.
The deal is seen as a milestone in strengthening regional energy cooperation, securing Israel’s domestic supply for decades, and positioning Leviathan as a key driver of stability and economic growth in the Middle East.
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