Leviathan companions signal $35b gasoline export deal

The Leviathan companions have reported signing the biggest-ever gasoline export deal to promote 130 billion cubic meters (BCM) of gasoline to Egypt for $35 billion. The deal entails 22% of your entire Leviathan gasoline discipline and 13% of all Israel’s pure gasoline reserves.

The deal follows up the 2019 settlement by which 19 BCM of gasoline was offered to and in impact triples the quantity of gasoline being exported to Egypt. The Leviathan companions mentioned that the deal paves the best way for increasing manufacturing.

NewMed Power (TASE: NWMD) CEO Yossi Abu mentioned, “It is a historic day. Leviathan, the most important pure gasoline discipline within the Mediterranean is a software for altering the strategic actuality.”

NewMed (previously Delek Drilling) reviews that Egypt will purchase the gasoline through Blue Ocean Power. 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 enlargement of manufacturing from Leviathan. Though it requires closing approval from the Petroleum Commissioner on the Ministry of Power and Infrastructure, the inexperienced gentle has already been given in-principle for a deal as much as 145 BCM, thus NewMed just isn’t involved about any regulatory obstacles.

The export deal will finance two main infrastructure tasks for the Leviathan discipline. Firstly, a pipeline from the sphere to the manufacturing platform, which is able to improve annual manufacturing from Leviathan from 12 to over 14 BCM per 12 months, 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 enable for additional expansions of manufacturing capability from Leviathan, up from 21 BCM to 23 BCM per 12 months. The Leviathan discipline produced 11 BCM in 2024. Of this, about 50% was exported to Egypt and the remaining was divided between the home Israeli financial system and Jordan. The plan till 2035 is that 60% of the gasoline in Leviathan might be exported, and 40% will go to the home financial system, with Leviathan additionally rising its manufacturing capability for the native financial system and supplying the brand new gas-fired energy crops in Israel

Relating to provide to the Israeli financial system, NewMed guarantees that “the enlargement will be sure that, beginning within the 2040s, Leviathan will make out there to the Israeli financial system the overwhelming majority of the gasoline produced from the sphere in a manner that may meet a lot of the pure gasoline consumption in Israel till the top of manufacturing from the reservoir..

Printed by Globes, Israel enterprise information – en.globes.co.il – on August 7, 2025.