Israel approves $35 billion natural gas export deal to Egypt, largest in Israeli history

Key facts

• Israeli Prime Minister Benjamin Netanyahu said he has approved a $35 billion natural gas export deal to Egypt, the biggest gas deal in Israeli history.
• The gas will be delivered to Egypt over the next 15 years by U.S. energy giant Chevron, a key owner of the gas field off Israel’s coast in the Mediterranean Sea.
• Half of the proceeds are expected to go to Israel’s state coffers.
• German lawmakers approved an expansion of a defense agreement for Israel’s Arrow 3 missile defense system, bringing the deal value from $3.5 billion to $6.5 billion, making it the largest Israeli defense export deal ever.