Israel Delays $35B Gas Export Deal With Egypt Amid Pricing And Political Tensions

Israel's $35 billion natural gas export deal with Egypt, intended to significantly increase exports from the Leviathan gas field, has been stalled by Israeli Energy Minister Eli Cohen's refusal to approve the agreement. Cohen cites unresolved concerns over domestic gas pricing and protecting Israeli national interests, demanding a fair price for the domestic market before proceeding. The delay has led to heightened tensions, including the cancellation of a planned visit to Israel by U.S. Energy Secretary Chris Wright, reflecting strong U.S. pressure to finalize the deal amid broader regional energy cooperation goals. The agreement is critical for Egypt, which relies heavily on Israeli gas imports due to domestic shortages, but political maneuvering by Israel's government and the ongoing Gaza conflict have complicated progress. American energy giant Chevron, a major stakeholder in the Leviathan field, also urges approval, while experts note Israel’s political leverage attempts risk undermining the deal and regional stability. Egypt is reportedly seeking alternative gas supplies to hedge against possible disruptions, signaling the geopolitical stakes involved in this landmark energy agreement.