Thu Dec 18 07:10:00 UTC 2025: FOR IMMEDIATE RELEASE
Netanyahu Announces $35 Billion Gas Deal with Egypt Amid US Push for Summit
JERUSALEM – In a televised address Wednesday evening, Israeli Prime Minister Benjamin Netanyahu announced a landmark $35 billion gas deal with Egypt, calling it “the largest gas deal in Israel’s history.” The deal, valued at 112 billion shekels (approximately $34.6 billion), involves American energy giant Chevron and will supply gas to Egypt.
“This deal greatly strengthens Israel’s status as a regional energy power and contributes to stability in our region,” Netanyahu stated, adding that it encourages further investment in Israeli gas exploration.
While the Egyptian government has yet to issue an official comment, sources suggest Israel had delayed formal approval for months, eventually acquiescing under pressure from the Trump administration. The US has been actively pushing for a summit between Netanyahu and Egyptian President Abdel Fattah el-Sisi, aiming to further regional peace initiatives and expand the Abraham Accords.
An Israeli source indicated that Netanyahu’s announcement is intended to build momentum for a potential meeting with Sisi, the first public meeting between the two leaders in nearly a decade, despite a landmark peace agreement between Israel and Egypt signed in 1979. Netanyahu is scheduled to travel to the United States later this year to meet with Trump at Mar-a-Lago.
The announcement follows a period of strained relations between Netanyahu and Sisi, despite Egypt’s key role in mediating the recent Gaza war. Netanyahu had previously cancelled plans to attend a peace summit in Sharm el-Sheikh, Egypt, in October.
First Piper 