Israel Approves $37 Billion Deal to Deliver Gas to Egypt
PositiveFinancial Markets

- Israel has approved a $37 billion deal to export gas to Egypt, following the granting of an export permit, which is the final step for the agreement first announced by energy companies in August. The gas will be sourced from the Leviathan gas field located in the Mediterranean Sea off Israel's northern coast, which is crucial for Israel's economy as it typically accounts for about 70 percent of electric power generation.
- This development is significant as it not only strengthens Israel's economic ties with Egypt but also enhances energy security and stability in the region. The deal is expected to bolster Israel's position in the energy market and contribute to its economic growth.
— via World Pulse Now AI Editorial System


