The Leviathan companions have reported signing the biggest-ever fuel export deal to promote 130 billion cubic meters (BCM) of fuel to Egypt for $35 billion. The deal includes 22% of your entire Leviathan fuel area and 13% of all Israel’s pure fuel reserves.
The deal follows up the 2019 settlement by which 19 BCM of fuel was bought to and in impact triples the quantity of fuel being exported to Egypt. The Leviathan companions mentioned that the deal paves the way in which for increasing manufacturing.
NewMed Vitality (TASE: NWMD) CEO Yossi Abu mentioned, “This can be a historic day. Leviathan, the largest pure fuel area within the Mediterranean is a instrument for altering the strategic actuality.”
NewMed (previously Delek Drilling) reviews that Egypt will purchase the fuel through Blue Ocean Vitality. The deal will embody the sale of 20 BCM beginning within the first half of 2026, and a further 110 BCM after completion of the growth of manufacturing from Leviathan. Though it requires last approval from the Petroleum Commissioner on the Ministry of Vitality and Infrastructure, the inexperienced mild has already been given in-principle for a deal as much as 145 BCM, thus NewMed isn’t involved about any regulatory obstacles.
The export deal will finance two main infrastructure initiatives for the Leviathan area. Firstly, a pipeline from the sector to the manufacturing platform, which is able to improve annual manufacturing from Leviathan from 12 to over 14 BCM per yr, and the connection of the Ashkelon-Ashdod pipeline, which is able to improve conveyance capability from Ashkelon to El-Arish in Egypt by 2 BCM.
In the long term, NewMed says that that is an anchor deal that may even permit for additional expansions of manufacturing capability from Leviathan, up from 21 BCM to 23 BCM per yr. The Leviathan area produced 11 BCM in 2024. Of this, about 50% was exported to Egypt and the remaining was divided between the home Israeli economic system and Jordan. The plan till 2035 is that 60% of the fuel in Leviathan might be exported, and 40% will go to the home economic system, with Leviathan additionally rising its manufacturing capability for the native economic system and supplying the brand new gas-fired energy vegetation in Israel
Relating to provide to the Israeli economic system, NewMed guarantees that “the growth will be certain that, beginning within the 2040s, Leviathan will make obtainable to the Israeli economic system the overwhelming majority of the fuel produced from the sector in a approach that can meet many of the pure fuel consumption in Israel till the tip of manufacturing from the reservoir..
Printed by Globes, Israel enterprise information – en.globes.co.il – on August 7, 2025.
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