Connect with us


$15 Billion Israel-Egypt Deal Signed; The Biggest for Israel’s Natural Gas Industry



The Israel-Egypt Deal on natural gas is estimated at a whopping $15 Billion. This is the biggest Israel-Egypt Deal and the biggest export deal for the Natural Gas Industry in Israel. PM Netanyahu has welcomed this ‘Historic’ Israel-Egypt deal with open arms.

PM Netanyahu, commenting on the deal, said that the deal will bring in billions to the ‘country’s coffers’. He also commented on how the deal will work towards strengthening the security, economy and regional ties for Israel. The Chief of Operations at Delek Drilling, the Israeli company that has signed the Israel-Egypt deal, stated that this would enhance the position of Egypt as a centre of regional energy.

Also Read: Why are Middle East Allies of US “Turkey and Egypt” Bonding with Russia?

Israel-Egypt Deal to Bring Enormous Tax Revenue

Israel is slated to receive billions of money in tax revenue, annually, from Egypt through this Israel-Egypt deal. The $15 billion deal will bring in approximately 50% of the revenues for the government of Israel. These numbers have been shared by a consultant from the private energy sector and a chief economist. Soon after the activation of one of the pipelines, Israel should start receiving around $1-1.5 billion, annually. The state will be in a position to impose a royalty of about 12.5% on the revenue and income tax will receive about 23 percent on the total profits. The excess revenue tax will range anywhere between 22 to 24 percent.

A part of the excess revenue tax will go to the sovereign wealth fund of Israel. The deal also includes the supply of natural gas to Jordan, as per the original agreement that was signed in 2016. This Israel-Egypt deal will help strengthen ties between the two nations on several levels.

Also Read: India, Pakistan Bury Hatchet and Work on TAPI Pipeline?

The Final Details of the Israel-Egypt Deal Yet to be Announced

Although the Israel-Egypt deal has been finalised other details like the route of the natural gas from Israel’s Tamar and Leviathan fields to Egypt are yet to be announced. According to Delek, there are many possible routes, the EMG pipeline being one.

After Israel discovered the two ‘healthy’ gas fields- Tamar and Leviathan fields, it has been working its way to become an exporter. It was in 2016 that the Israel-Egypt deal was formulated between Jordan and Israel, for 15 years.

Other News:




ashar-ghani ashar-ghani
Featured4 hours ago

Afghanistan, Turkmenistan Sign Deal On TAPI Pipeline Which Includes India & Pakistan

Turkmenistan and Afghanistan on Wednesday signed documents to promote the implementation of joint infrastructure projects, according to Turkmenistan’s Foreign Ministry...

Americas6 hours ago

India-Pakistan War Much More ‘Imminent & Beneficial’ For Delhi Than A Conflict With China – Top US Analyst

India has been on the edge of a potential war with two of its neighbours – China and Pakistan. While...

Modi-Government Modi-Government
Featured7 hours ago

Is India Under PM Modi Drifting Away From Gandhi’s Non-Violent Doctrine?

Coinciding the birth anniversary of India’s freedom icon, Mahatma Gandhi on Friday, experts say his values of non-violent resistance have...

Europe12 hours ago

Like India, Greece To Equip Its Rafale Fighter Jets With HAMMER Missiles?

HAMMER (Highly Agile and Manoeuvrable Munition Extended Range) missiles are air to ground precision-guided missiles developed by Safran Electronics &...

F-15EX-india F-15EX-india
Americas21 hours ago

Forget F-16s & F-35s, This Is The World’s Deadliest Fighter Jet With 100 Kills, Without A Single Loss

Over the years, the United States has developed a strategic military partnership with Israel by equipping them with the world’s...

putin-russia putin-russia
EurAsian Region23 hours ago

Russian Sukhoi Su-34 Jet Displays ‘Path-Breaking’ Capabilities; Makes Its First Flight Into The Stratosphere

Russian fighter-bomber aircraft Su-34 carried out a night-time combat exercise reaching to the heights of 15 kilometers at lower stratospheric...

Putin-Macron Putin-Macron
Europe1 day ago

French President Emmanuel Macron Blames Azerbaijan For Starting Conflict With Armenia

French President Emmanuel Macron on Wednesday voiced solidarity with Armenia amid its conflict with Azerbaijan over disputed Upper Karabakh region....

Israel-Turkey Israel-Turkey
Europe1 day ago

Greece Turning Into Another Israel: The Way US Backed Israel, EU Is Supporting Greece – Turkish Experts

With growing military confrontations in the Eastern Mediterranean between Greece and Turkey, several European Union (EU) nations have got itself...

Indian-Flag Indian-Flag
Featured1 day ago

200,000 Muslim Children Disappeared From Uttarakhand Overnight: Another Smear Campaign Or Truth?

A news is getting viral on WhatsApp and Social media in India which EurAsian Times has access to. The news...

Asia Pacific1 day ago

How India, China Conflict In Ladakh Is Becoming A ‘Test Platform’ For Drone Technology?

In a bid to compete with one another, India and China have been deploying their heavy weaponry and latest armaments...