Friday, December 19, 2025

Israel Negotiating Gas Deal with Syria Following $35B Deal with Egypt – Report

By Palestine Chronicle Staff

Syrian President Ahmed al-Shara’a. And Israeli Prime Minister Benjamin Netanyahu. (Design: Palestine Chronicle)

Netanyahu announced on Wednesday evening the approval of a major natural gas agreement with Egypt worth 112 billion shekels (approximately $35 billion).

One day after Israeli Prime Minister Benjamin Netanyahu announced the approval of a major natural gas deal with Egypt, Israel’s Channel 14 revealed on Thursday that Tel Aviv is also negotiating a gas deal with Syria.

The channel cited political commentator Yaakov Bardugo as saying that if such an agreement is signed, it would be with the Americans, the Saudis and Syrian president Ahmed al-Sharaa. According to Bardugo, Israel’s demands include the demilitarization of Syria, as well as diplomatic, political and security agreements, the report said.

“The demilitarization of large parts of what is called the Syrian-Israeli border proximity, a major demilitarization, could definitely be what is called the right condition for such negotiations,” Bardugo reportedly said. “From this moment on, the rules of the game are changing. We are facing dramatic and powerful changes in the Middle East.”

Egypt Deal ‘Largest’ in Israel’s History

Netanyahu announced on Wednesday evening the approval of a major natural gas agreement with Egypt worth 112 billion shekels (approximately $35 billion).

“The deal is worth 112 billion shekels, the largest gas deal in Israel’s history,” Netanyahu said in a televised statement alongside Energy Minister Eli Cohen, according to the daily Yedioth Ahronoth, cited by the Anadolu news agency.

“The deal with American company Chevron was approved after I secured our vital security interests,” he added, without providing further details.

“First and foremost, the deal requires companies to sell gas at a good price to Israeli citizens,” Netanyahu said.

There was no official confirmation or statement from Egyptian authorities regarding the deal.

Netanyahu’s Earlier Reservations

In September, the Israeli newspaper Israel Hayom reported that Netanyahu had instructed that the massive gas agreement with Egypt not move forward without his approval, against the backdrop of Tel Aviv’s allegations that Cairo had “violated the peace treaty” signed between the two countries through military deployments in Sinai—claims that Egypt denied.

Reports about the deal emerged on August 7, when the newspaper Maariv revealed that NewMed Energy had signed a new agreement to export gas to Egypt from the Leviathan field, expanding the existing agreement in place since 2019 (60 billion cubic meters), the Anadolu report stated.

Israeli media earlier reported that Egypt might turn to Qatar to cover gas supplies in case of Israel’s failure to approve the deal.

Following these reports, Israeli media reports spoke of a shift in Netanyahu’s position, noting that he had given the green light to complete the gas deal with Egypt.

Operating Rights

Under the agreement, partners will sell 130 billion cubic meters of gas to Egypt through 2040 in exchange for about $35 billion.

Operating rights in the Leviathan field are divided between Noble Energy (39.66%), which was acquired by US energy giant Chevron in October 2020; NewMed Energy Partnership (45.33%); and Ratio Oil Exploration (15%).

The Egyptian energy company BOE (Blue Ocean Energy) is the buyer, according to Israel Hayom.

This deal adds to a series of Israeli natural gas supplies to Egypt over the past five years.

On March 26, 1979, Egypt and Israel signed a peace treaty in Washington following the 1978 Camp David Accords, the report added. Its key provisions included ending the state of war, normalizing relations, the full withdrawal of Israeli military forces and civilians from the Sinai Peninsula, and keeping the area demilitarized.

Genocidal Assault on Gaza

Israel’s genocidal war on the Gaza Strip, launched in October 2023, has resulted in the deaths of over 70,000 Palestinians, with more than 170,000 wounded. The vast majority of the population has been displaced, and the destruction of infrastructure is unprecedented since World War II. Thousands of people are still missing.

In addition to the military assault, the Israeli blockade has caused a man-made famine, leading to the deaths of hundreds of Palestinians—mostly children—with hundreds of thousands more at risk.

Despite widespread international condemnation, little has been done to hold Israel accountable. The nation is currently under investigation for genocide by the International Court of Justice, while accused war criminals, including Prime Minister Benjamin Netanyahu, are officially wanted by the International Criminal Court.

(PC, Anadolu)

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