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Israel sells $35 billion worth of gas to Egypt.

Israel will supply Egypt with 130 billion cubic meters of natural gas by 2040.

Image of 'Israel sells $35 billion worth of gas to Egypt.'

According to Reuters, gas supply from the Leviathan gas field will be carried out in two stages: starting from 2025, 20 billion cubic meters of gas will be delivered, and after the platform is expanded, an additional 110 billion cubic meters of gas will be exported.

The Leviathan field has an estimated reserve of 600 billion cubic meters of gas and has been in operation since 2020. To date, 23.5 billion cubic meters of gas have been supplied to Egypt.

In Egypt, electricity shortages have worsened in recent years. Facing a gas shortage, the country has signed agreements to import over 150 liquefied gas shipments. Currently, Egypt is no longer a gas exporter but has become a major importer.

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