Israel approves $35 bil Egypt gas export deal - S&P Global

December 18, 2025
Matt Hoisch

The Israeli government has approved the previously-announced $35 billion agreement to expand gas exports from the country's Leviathan offshore gas field to Egypt, Prime Minister Benjamin Netanyahu said late Dec. 17, in what he described as "the largest gas deal in Israel's history."

"This deal greatly strengthens Israel's status as a regional energy power and contributes to stability in our region," he said while addressing the country. "It encourages other companies to invest in gas exploration in Israel's economic waters."

The agreement will see some 130 Bcm of gas flow to existing Leviathan offtaker Blue Ocean Energy to 2040 "or until all contract quantities are fulfilled," according to statements from NewMed Energy, one of the partners in the Leviathan field.

It will replace an existing export agreement due to end in the early 2030s.

TotalEnergies and ENI sign an agreement with Cyprus and Egypt for the export of Cyprus Block 6 gas through Egypt - TOTALENERGIES

02/17/2025

Paris/Cairo, February 17, 2025 – In the presence of President of Egypt Abdel Fattah El-Sisi and President of Cyprus Níkos Christodoulídis, TotalEnergies and ENI, partners in Cyprus offshore Block 6 (TotalEnergies 50%, ENI 50% operator), have signed today a Host Government Agreement (HGA) with the Arab Republic of Egypt and the Republic of Cyprus related to the development of Block 6 gas resources.

Signed during the Egypt Energy Show (EGYPES) with the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Karim Badawi, and the Minister of Energy, Commerce and Industry of the Republic of Cyprus, George Papanastasiou, this agreement is a key milestone towards the development of the Cronos gas field. Located in Cyprus Block 6, Cronos field was discovered in 2022 and successfully appraised in February 2024.

The agreement provides a framework allowing the Cronos gas to be processed in the existing Zohr facilities offshore Egypt and then liquefied in the Damietta LNG plant in Egypt, for export to European markets.

Following the signature of this agreement, the Block 6 partners will now proceed with the Cronos Development and Production Plan, in close collaboration with Cyprus authorities.

Egypt, Cyprus, Greece leaders agree to develop joint energy projects at Cairo trilateral summit - EGYPT TODAY

Wed, 08 Jan 2025 - 02:41 GMT

CAIRO – 8 January 2025: Leaders of Egypt, Cyprus and Greece have agreed on the necessity to develop joint energy projects as they held the 10th trilateral cooperation mechanism summit in Cairo on Wednesday.

“The energy file was strongly present in our talks today,” President Abdel Fattah El-Sisi said in a joint press conference with Greece’s Prime Minister Kyriakos Mitsotakis and President Nikos Christodoulides of Cyprus following their meeting.

Sisi said they agreed on the need for developing joint projects in renewable energy, electrical interconnection, natural gas transportation, and power linkage infrastructure enhancement.

These projects aim to achieve regional integration in this sector and effectively ensure international energy security, which has suffered turbulence amidst latest global crises, the Egyptian president added.

Sisi’s maritime declaration shields Crete - KATHIMERINI

15.DECEMBER.2022 • 12:15
Vassilis Nedos

Despite Ankara’s efforts to normalize relations with Cairo, the Turkish-Libyan maritime memorandum received another blow to its credibility with the presidential decree of Egypt’s Abdel Fattah el-Sisi declaring the Egypt-Libya maritime border unilaterally with a western limit at the 25th meridian – i.e. even further west than the limit of the August 2020 Greece-Egypt partial demarcation agreement.

The recent developments around Crete serve as a shield for Greece’s rights, as the exploration for hydrocarbons to the southwest of the island at the request of US oil giant ExxonMobil was followed by Sisi’s decree, which transfers Egypt’s claims against Libya further west, dealing another blow to the Turkish-Libyan memorandum. In effect, it makes Tripoli’s desire for exploration south of the eastern part of Crete, where Egypt is now asserting claims, even more difficult.

Although the decree does not reach the median line (as perceived by Greece) leaving room for a future tripartite agreement between Greece, Egypt and Libya, it practically covers even more of Crete against the possibility of Tripoli requesting that exploration be conducted by the Turkish Petroleum Corporation (TPAO) at a point near the east of the island.

Greece and Egypt reach compromise in eastern Mediterranean - ARAB NEWS

09 March 2021

ATHENS: Greece and Egypt reached a compromise on Monday in their disagreement over oil and gas exploration in an area of the eastern Mediterranean.

The spat had given Ankara an opportunity to mount a diplomatic offensive in an attempt to show that Turkey and Egypt were close to reaching an agreement of their own on maritime-exploration zones.
However, Greek Prime Minister Kyriakos Mitsotakis spoke a few days ago with Egyptian President Abdel Fatah El-Sisi. Soon after, it was announced that Greek Foreign Minister Nikos Dendias would travel to Cairo on Monday to meet his Egyptian counterpart Sameh Shoukry.

After the meeting, Dendias said the contentious issue concerning one of the three Egyptian exploration areas, which follows the boundaries of a previous agreement between the two countries but also extends eastwards into an area claimed by Turkey, was merely a “technical one” and had been resolved. The coordinates of the disputed block were reportedly adjusted after consultations between Egyptian and Greek experts.

EastMed gas pipeline to go through Egypt? - CYPRUS MAIL

March 5, 2021
Dr. Charles Ellinas

The Greek and Cypriot press abounds with news and denials that a new plan has emerged for the much-talked about EastMed gas pipeline. The Greek newspaper Vema claimed that the Greek Prime Minister Kyriacos Mitsotakis, and Egyptian President Egyptian President Abdel-Fattah El-Sisi discussed recently a new plan that will involve a change of route for the pipeline.

Instead of going to Cyprus, it would go from the Israeli gas-field Leviathan straight to Egypt. From there it would continue on land to the Egyptian-Libyan border, from where it would be routed subsea to Crete passing through the recently delineated Greek-Egyptian EEZs, and then through Greece to Europe. This would strengthen Egypt’s hand in becoming the regional gas hub.

Such a development would leave Cyprus in limbo and with diminished influence, hence explaining Nicosia’s strong response to the news.

There is already in place an inter-governmental agreement signed in January 2020 by the Israeli Prime Minister Benjamin Netanyahu, Cypriot President Nicos Anastasiades and Mitsotakis – but not Italy – approving the EastMed pipeline based on the original concept, to go from Israel through Cyprus, to Crete and to mainland Greece and from there to Italy.

Turkey’s Mediterranean Gas Plans Draw Fresh Criticism in Egypt - BLOOMBERG

October 8, 2019, 6:02 PM GMT+3Tarek El-Tablawy

Egypt, Cyprus and Greece on Tuesday renewed their condemnation of Turkey’s plans for oil and gas drilling in the eastern Mediterranean, with President Abdel-Fattah El-Sisi saying the move threatens to “destabilize the region.”

The Egyptian leader, speaking at a joint news conference with his Cypriot counterpart and Greece’s prime minister, said such “unilateral” plans could escalate regional tensions.

Cyprus has said Turkey’s exploration plans in the south of the divided island are illegal and a violation of its sovereign rights. Cyprus has an agreement with Total SA and Eni SpA for oil and natural gas exploration rights in Block 7 -- the area where Turkey wants to drill.

The meeting of the three leaders was the latest in a broader push by their countries to boost energy ties in the eastern Mediterranean.

Egypt committed to working with US, highest standards in gas projects - ENTERPRISE

Tuesday, 21 May 2019

El Sisi meets with Noble Energy boss, says Egypt is committed to strengthening ties with the US: A meeting between President Abdel Fattah El Sisi and Noble Energy CEO David Stover tops the front pages of Al Ahram, Al Akhbar and Al Gomhuria this morning. El Sisi used the occasion to reaffirm Egypt’s commitment to strengthening strategic ties with the US and said the country was following the highest standards in its gas exploration and production projects.

Other coverage of the story: Noble, which is helping lead the charge to develop Israeli gas fields and sell the offtake to Egypt, is interested in a helping build a gas pipeline between Egypt and Cyprus, an unnamed Oil Ministry source told Youm7. No further details were provided on the company’s plans. Egypt and Cyprus signed an agreement last year, which would allow natural gas from the Aphrodite gas field to be transported to Egypt’s liquefaction facilities at Idku and Damietta, and re-exported as liquefied natural gas.

Sisi authorizes Oil Minister to sign contracts with DEA Suez GMBH Group - EGYPT INDEPENDENT

May 8, 2019, 3:01 pm

Egypt’s President Abdel Fattah al-Sisi authorized Minister of Petroleum and Mineral Resources Tarek al-Mula to sign contracts with the Egyptian General Petroleum Corporation and the German DEA Suez GMBH Group according to law no.9 of 2019.

According to the expected contracts, DEA Suez will explore, develop and take advantage of oil in the Ras Badran and Gulf of Oil development areas in the Gulf of Suez.

Egypt’s Minister of Petroleum and Mineral Wealth Tarek al-Molla signed an agreement in March with DEA for oil and gas exploration in the Gulf of Suez’s Ras Badran and Ziet Bay areas with investments totaling US$20 million.

Molla said in a statement that DEA will undertake drilling activities and the operation and maintenance of the liquefied Natural Gas (LNG) extraction plant in the Gulf of Suez area.

He mentioned that the ministry has been cooperating with DEA for more than 45 years to achieve higher oil and LNG production rates in areas of the Gulf of Suez, the Delta and the Mediterranean Sea.

DEA General Manager Sameh Sabry said that the company injected US$800 million for oil and LNG exploration in the Gulf of Suez, Desouk and North Alexandria’s fields during 2017 and 2018, adding that it would possibly inject another US$700 million in the coming three years.

DEA Suez GmbH operates in the field of exploration and production of natural gas and crude oil. The Company deploys state-of-the-art drilling and production technologies. DEA Suez conducts business worldwide.

SOURCE

Egypt- Zohr gas condensates production increases to 4,000 tonnes per day - MENAFN / DAILY NEWS EGYPT

APRIL/20/2019 7:17:08 PM

(MENAFN - Daily News Egypt) [The source] pointed out that completing the development of the second phase of Zohr will take place in June, increasing the total production capacity to 2.7bn scf/day.

He added that Eni aims to invest about $4bn in the development of the second phase of Zohr this year, increasing the company's total investments in the project to $16bn.

The source stressed that the ministry of petroleum seeks to speed up the implementation of the next phase of Zohr upon the directives of President Abdel Fattah Al-Sisi to speed up connecting the project's production to the national grid.

Trump's energy dominance agenda hinges on Egypt - WASHINGTON EXAMINER

April 10, 2019 11:59 AM

John Siciliano & Josh Siegel

President Trump needs Egypt’s economy to grow up fast if he wants his vision of “energy dominance” to come into full force, seeing that the North African country is a key lynchpin in the global oil market, yet in desperate need of infrastructure investment.

At Tuesday’s meetings at the White House, Trump and Egyptian President Abdel Fattah Al-Sissi discussed a new, loosely organized natural gas collaboration between Egypt, Israel and Southern Europe as necessary for the two countries’ ambitions.

“One of the things we’ve been particularly encouraged by over the course of recent years is the increasing leadership role the Egyptians are playing in terms of developing the [natural] gas assets in the Eastern Mediterranean, which has been a very productive area of cooperation,” said a senior White House official with the National Security Council ahead of the meeting.

Trump wants Al-Sissi to use Egypt’s newfound natural gas discoveries to modernize the country’s economy and upgrade the global trade infrastructure at the Suez Canal.

Billionaire Tshuva May Herald Next Step in Israel-Egypt Ties - BLOOMBERG

March 24, 2019, 7:47 PM GMT+2

Yaacov Benmeleh

• Tshuva’s Delek eyes stakes in Egypt’s gas-liquefaction plants
• Deal may help both nations explore ties beyond security

Delek Drilling LP, the Israeli energy explorer controlled by billionaire Yitzhak Tshuva, is considering buying a stake in an Egyptian liquefied natural gas plant to broaden its export footprint.

Acquiring a piece of either the Idku or Damietta facilities, operated by Royal Dutch Shell Plc and Spain’s Union Fenosa SA, respectively, is among the various routes possible for the Egyptian deal, the company said in its annual report on Sunday. Other options are buying capacity at the plants rather than equity stakes, or enrolling their gas liquefaction services.

Should Delek pull off the purchase, it would be the strongest signal yet that Israel and Egypt are moving beyond security cooperation and toward deeper economic ties. Though the neighbors signed a peace treaty 40 years ago, Israel remains unpopular to many Egyptians. President Abdel Fattah El-Sisi didn’t even mention Israel when he celebrated a $15 billion deal in 2018 between the nations.

Egypt Looks to Offshore Gas Field for Growth and Influence - THE NEW YORK TIMES

March 11, 2019

Clifford Krauss and Declan Walsh

CAIRO — President Abdel Fattah el-Sisi likes to flaunt his plans for modernizing Egypt, like the flashy new administrative capital rising from the desert outside Cairo. But most Egyptians view his rule as a time of painful belt-tightening, with soaring inflation, a currency crash and cuts to subsidies that have made fuel, electricity and water more expensive.

Now there is a ray of hope emerging a hundred miles offshore.

It comes in the form of a windfall natural gas discovery with the potential to lift Egypt’s limping economy, build a new commercial alliance with Israel and maybe, even, revive the country’s diminished regional clout.

Egypt’s gas push is part of a tectonic shift in energy and geopolitics. Natural gas, long a poor cousin to oil, is gaining importance and becoming a tool for countries to leverage power and prestige. Advances in the shipping of liquefied gas have made it a global fuel and strengthened the hand of countries that until recently were not major energy exporters, including the United States and now Egypt.

President Sisi thanks Cyprus for its contribution in the establishment of EU-Egypt relations - CYPRUS NEWS AGENCY

CYPRUS/Nicosia 24/02/2019 13:43 

President of Egypt Abdel Fattah al-Sisi has expressed his gratitude to President Nicos Anastasiades for his contribution in establishing relations between his country and the EU.

Anastasiades who arrived Sunday at the Egyptian resort of Sharm el Sheikh for the first EU-Arab league Summit, was received by President Sisi in the morning. 

President Anastasiades told the press that the Egyptian President expressed absolute support to his initiative on climate change.

Anastasiades off to Egypt for first-ever EU-Arab League Summit - CYPRUS MAIL

February 23, 2019

President Nicos Anastasiades leaves for Sharm el-Sheikh in Egypt on Sunday, to attend the 1st EU-Arab League Summit, in the framework of which he is set to have bilateral meetings with heads of states in the region and to promote Cyprus’ initiative to play a coordinating role in introducing policies and strategies by neighbouring countries to tackle climate change.

The EU-League of Arab States (LAS) summit will bring together for the first time, heads of state or government with EU leaders.

European Council President Donald Tusk will co-chair the meeting with Egyptian President Abdel Fattah al-Sisi. He will represent the EU along with Commission President Jean-Claude Juncker.

Anastasiades will meet with Egypt’s President Abdel Fattah al-Sisi on Sunday, and Lebanese Premier Saad Hariri and Kind Abdullah of Jordan on Monday.

The meetings will offer the opportunity to further promote and enhance bilateral cooperation as well as the trilateral cooperation and to point out Cyprus’ role as a European pillar of stability and as a state that can boost security in the region by playing its role in the area, a statement said.

Egypt, Jordan amend natgas supply agreements as El Sisi visits Amman - ENTERPRISE

Monday, 14 January 2019

Egypt, Jordan amend natgas supply agreements: Oil Minister Tarek El Molla and his Jordanian counterpart Hala Zawati signed agreements amending prior natural gas purchase and sale agreements and MoUs, according to Al Shorouk. No details were provided as to what the amendments entail. Egypt began exporting natural gas to Jordan last September under a supply resumption agreement providing as much as 10% of Amman’s natural gas needs. Zawati later said her country is planning to increase the amount to eventually cover a third of the kingdom’s demand.

This comes as President Abdel Fattah El Sisi held talks yesterday with Jordan’s King Abdullah II during a short visit to Amman, according to an Ittihadiya statement. The two discussed natural gas exports to Jordan and the Palestinian peace process, as well as bilateral ties, countering terrorism, Syria, Libya, and Yemen.

Reaping the rewards of Egypt's reforms - PETROLEUM ECONOMIST

7 January 2019
David Butter

The Egyptian government is looking to 2019 as the year in which it will start to realise clear dividends from previously-enacted economic reforms. These have included changes to the petroleum regime that are already yielding benefits in the form of a rapid ramp-up in natural gas production. On the political front, one of the key issues will be whether President Abdel-Fattah el-Sisi prepares the ground to extend his mandate beyond 2022, when his second, and supposedly final, term is scheduled to end.

The $12bn IMF programme that commenced in November 2016 is now in its final year. The main elements have been putting in place a flexible exchange rate system, bringing down the fiscal deficit through increased taxation and cuts in energy subsidies, and seeking to improve the environment for private investment. The programme has also included social protection measures, in particular increases to food subsidies and the development of schemes targeting assistance at vulnerable groups.

The effects of the reforms, both positive and negative, have been evident in Egypt's main economic indicators. Real GDP growth has accelerated from 3–4pc to over 5pc, and the government is aiming for growth of 5.8pc in the fiscal year that ends in June 2019 and for 6.5pc the following year. These targets are achievable, partly thanks to the surge in gas output and the recovery of tourism, but the relatively weak rate of growth in private consumption is likely to persist, reflecting the pernicious impact of high inflation on living standards.

Egypt's Sissi Confirms Unprecedented Military Cooperation With Israel - HAARETZ

Abdel-Fattah al-Sissi, Africa 2018 Forum, Egypt December 9, 2018

Jan 04, 2019 5:21 PM

• Egyptian president addresses cooperation against militants in Sinai in interview for CBS
• Cairo's envoy to the U.S. asks that the interview be withheld from broadcast

Egypt's military cooperation with Israel has reached unprecedented levels, Egyptian President Abdel-Fattah al-Sissi told CBS News in an interview scheduled to air Sunday.

Sissi was referring primarily to security cooperation against militants in the northern Sinai – cooperation that Egypt has until now avoided discussing publicly.

Asked whether cooperation between the sides can be described as the "closest ever," Sissi said: "That is correct…We have a wide range of cooperation with the Israelis."

Gov’t puts pen to paper on strategy for Egypt’s energy hub ambitions - ENTERPRISE

Thursday, 3 January 2019

Gov’t puts pen to paper on EastMed energy hub strategy: A government committee has drafted a strategy to advance Egypt’s plan to become the premier energy hub in the Eastern Mediterranean region, according to a Cabinet statement. The strategy involves studying and benchmarking similar projects elsewhere, conducting a cost–benefit analysis, and devising short- and long-term action plans. We could also see our ports become the first to set up natural gas marine fuel stations along the eastern Mediterranean. The committee will hand its recommendation to cabinet for review.

This comes as friendlier oil and gas contracts are set to take effect this quarter: We had noted last October that the Oil Ministry is planning to roll out new production sharing contracts with friendlier terms for international oil companies. The new framework, which is set to take effect this quarter, would grant the companies a larger share of the output and allow them to sell their share of production to anyone they like. This would replace the current, more rigid system, which gives producers only one-third of output and sets the government as the only buyer of their share of production at preset prices. Taken with a push — emphasized last week by President Abdel Fattah El Sisi — for more refining capacity as well as for the repayment of arrears to E&P companies, the move could significantly improve an already bright climate for oil and gas players in Egypt.

Interview: President of Cyprus on Sisi, gas deal, Turkey and Syria - EGYPT INDEPENDENT

December 10, 2018, 2:24 pm
Gamaa Hamduillah

This edited interview of President Nicos Anastasiades, of the Republic of Cyprus, was originally authored by Gamaa Hamduillah and Fady Francis, and published by Egyptian newspaper Al-Masry Al-Youm on Friday, December 7, 2018.

Al-Masry Al-Youm: After the 30 June Revolution, and President Abdel-Fattah al-Sisi’s 2014 rise to power in Egypt, the past four years witnessed a great development of Egyptian-Cypriot relations, in all fields and departments. How do you see the future of relations between Egypt and Cyprus, during President Sisi’s second term?

President Anastasiades: Bilateral relations between Cyprus and Egypt are at their highest point ever, and this reflects our readiness to further broaden our ties in the future, and reach the full potential of our partnership, including engaging the private sector. It is always with great pleasure that I meet President Sisi, and I look forward to continuing close work together, with the common aim of promoting peace, stability and prosperity in our region.