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NewMed Energy and Partners Sign Largest Export Deal in Israel's History with $35 billion of Natural Gas Exports from Leviathan Reservoir to Egypt
NewMed Energy and the partners in the Leviathan project today announce the signing of a landmark deal for the sale of natural gas from the Leviathan reservoir to the Egyptian market. The deal was signed with Blue Ocean Energy (BOE), an existing off-taker of natural gas from Leviathan for Egypt.
About this update from Newmed Energy Limited Partnership
[{"type":"list","items":[{"val":[{"type":"text","content":"Aggregate total quantity of ~130 BCM (4.59 TCF)","length":47,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Stage one: initial sale of ~20 BCM (0.7 TCF) from 2026","length":54,"tagName":"p"}]},{"val":[{"type":"text","content":"Stage two: upon completion of the Leviathan expansion project, a further ~110 BCM (3.88 TCF) of natural gas will be exported","length":124,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":178,"olType":false}]},{"val":[{"type":"text","content":"Estimated valuation of $35 billion by 2040","length":42,"tagName":"p"}]},{"val":[{"type":"text","content":"Builds on existing ~60 BCM export agreement with Egypt","length":54,"tagName":"p"}]},{"val":[{"type":"text","content":"Current prospective resources of ~600 BCM (21.2 TCF) of natural gas in Leviathan reservoir ","length":90,"tagName":"p"}]},{"val":[{"type":"text","content":"The deal should pave the way for the expansion of Leviathan and ensure the supply of natural gas to the Israeli market until 2064","length":129,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":540,"olType":false},{"type":"text","content":"TEL AVIV, Israel, Aug. 7, 2025 /PRNewswire/ -- NewMed Energy and the partners in the Leviathan project today announce the signing of a landmark deal for the sale of natural gas from the Leviathan reservoir to the Egyptian market. The deal was signed with Blue Ocean Energy (BOE), an existing off-taker of natural gas from Leviathan for Egypt.","length":347,"tagName":"p"},{"type":"text","content":"The deal includes an aggregate total quantity of ~130 BCM (4.59 TCF) of natural gas, with a financial value estimated at around $35 billion. The agreement signifies the largest export deal ever signed in Israel's history and the largest deal since the discovery of the natural gas reservoirs in Israel. Under the terms of the deal, the sale of the gas to Egypt is expected to continue until 2040, or until all of the contract quantities are fulfilled.","length":461,"tagName":"p"},{"type":"text","content":"The Leviathan reservoir began exporting natural gas to Egypt shortly after commencement of production in January 2020. Currently, the reservoir is supplying a total contract gas quantity of ~60 BCM, with an annual volume of 4.5 BCM (0.16 TCF), to Egypt through Blue Ocean En...