Israel To Approve $35B Gas Export Deal With Egypt Amid U.S. Pressure

Israel is expected to approve its $35 billion gas export deal with Egypt amid pressure from the Trump administration. The agreement, estimated to be worth $35 billion, will see Israel exporting 130 billion cubic meters of natural gas from the Leviathan gas field to Egypt. Partners Chevron Corp., NewMed Energy, and Ratio Petroleum Energy will guarantee a set price for the domestic economy. The supply agreement has been extended until 2040, as announced by Egyptian Prime Minister Mostafa Madbouly. However, tensions between the two nations escalated after the Israeli military issued evacuation orders in Gaza City in September.