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Israel announces 'historic' gas contract with Egypt

19 February 2018 4:13 PM
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Israel announces 'historic' gas contract with Egypt

Jerusalem - Prime Minister Benjamin Netanyahu on Monday announced an "historic" contract for sales of billions of dollars' worth of Israeli natural gas to Egypt.

"This will bring billions of dollars to state coffers," he said in a statement announcing the accord with Egypt, which in 1979 became the first Arab country to sign a peace treaty with Israel.

The Israeli energy group Delek said the value of the contract was $15bn.

In September 2015, Jordan struck a deal to buy 8.5 million cubic metres of Israeli gas per day over a 15-year term.


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