cross-posted from: https://lemmy.world/post/40346958

JERUSALEM (AP) — Israeli Prime Minister Benjamin Netanyahu said on Wednesday that he has approved a $35 billion natural gas export deal to Egypt, the biggest gas deal in Israeli history. The agreement could also help repair relations between the two countries strained during the two-year war in the Gaza Strip.

The gas will be delivered to Egypt over the next 15 years by U.S. energy giant Chevron, a key owner of the gas field off Israel’s coast in the Mediterranean Sea. Half of the proceeds are expected to go to Israel’s state coffers.

In a recorded video statement, Netanyahu said the deal “greatly strengthens Israel’s position as a regional energy power, and it contributes to stability in our region.”

Egypt, which borders both Israel and Gaza, has served as a key mediator between Israel and the Palestinian militant Hamas group leading up to the U.S.-brokered ceasefire that was agreed on in October. Cairo has also has been a vocal critic of Israel’s offensive, which has killed tens of thousands of Palestinians and caused widespread destruction in Gaza.