Israel has approved a deal to supply natural gas to Egypt. This was stated by Israeli Prime Minister Benjamin Netanyahu, reports UNN with reference to Reuters.
Details
The deal is worth 112 billion Israeli shekels, which is approximately 34.67 billion dollars. Netanyahu added that the agreement, which had been delayed due to some unresolved issues, would help ensure stability in the region.
According to him, this should ease the energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas, as its own reserves did not meet demand.
A Chevron representative said that he welcomes Israel's decision to issue a permit for the export of natural gas from the Leviathan field to Egypt.
Under the agreement, about 130 billion cubic meters of gas will be supplied from the Leviathan field, which has reserves of about 600 billion cubic meters, to Egypt until 2040 or until all contract conditions are met.
Recall
Israeli Prime Minister Benjamin Netanyahu stated that he does not plan to leave politics in exchange for a possible pardon in corruption proceedings.