Egypt and Israel conclude a gas agreement worth around 30 billion euros. Israel’s Prime Minister Benjamin Netanyahu expects enormous profits for his country.
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The Israeli Prime Minister Benjamin Netanyahu has announced a comprehensive gas agreement with Egypt worth the equivalent of almost 30 billion euros. According to Netanyahu, half of the proceeds will go to Israel’s treasury, he said during a joint press conference with Israeli Energy Minister Eli Cohen. Gas exports will provide Israel with “huge profits,” said Netanyahu.
The agreement involves the export of gas from the Leviathan field, which is located around 130 kilometers west of the Israeli port city of Haifa at a depth of around 1,700 meters. In addition to the US company Chevron, the shareholders are the Israeli companies NewMed Energy (formerly Delek) and Ratio Energies.
