"This agreement significantly strengthens Israel's position as a regional energy power and contributes to stability in our region. It also encourages other companies to invest in gas exploration in the waters of Israel's exclusive economic zone," Israeli Prime Minister Benjamin Netanyahu said in announcing the approval of a contract to export gas to Egypt.

Under this agreement, the Israeli company NewMed Energy, whose main shareholder is the American company Chevron, will sell 130 billion m3 of gas to Egypt in 15 years. It is a raw material extracted from the giant deposits of Leviathan located on the shores of Israel, which the Americans discovered in the last decade.