- Aggregate overall amount of|130 BCM (4.59 TCF)
- Phase one: preliminary sale of|20 BCM (0.7 TCF) from 2026
- Phase 2: upon conclusion of the Leviathan growth job, a more|110 BCM (3.88 TCF) of gas will be exported
- Approximated appraisal of $ 35 billion by 2040
- Develops on existing|60 BCM export contract with Egypt
- Existing potential resources of|600 BCM (21.2 TCF) of gas in Leviathan tank
- The offer ought to lead the way for the growth of Leviathan and guarantee the supply of gas to the Israeli market till 2064
TEL AVIV, Israel, Aug. 7, 2025/ PRNewswire/– NewMed Energy and the partners in the Leviathan job today reveal the finalizing of a landmark offer for the sale of gas from the Leviathan tank to the Egyptian market. The offer was signed with Blue Ocean Energy (BOE), an existing off-taker of gas from Leviathan for Egypt
The offer consists of an aggregate overall amount of|130 BCM (4.59 TCF) of gas, with a monetary worth approximated at around $ 35 billion The contract symbolizes the biggest export offer ever checked in Israel’s history and the biggest offer considering that the discovery of the gas tanks in Israel Under the regards to the offer, the sale of the gas to Egypt is anticipated to continue till 2040, or till all of the agreement amounts are satisfied.
The Leviathan tank started exporting gas to Egypt soon after beginning of production in January 2020 Presently, the tank is providing an overall agreement gas amount of|60 BCM, with a yearly volume of 4.5 BCM (0.16 TCF), to Egypt through Blue Ocean Energy, plus area amounts (interruptible day-to-day sales), which are balanced out versus the overall agreement amount.
The initial export contract with Egypt, checked in 2019, is because of end as soon as the complete contracted amount of|60 BCM has actually been offered, anticipated in the early 2030’s. Considering that beginning of gas production from the tank,|23.5 BCM of gas has actually been offered from Leviathan to the Egyptian market.
Today’s offer will ultimately change the existing contract, and is divided into 2 phases:
- Phase one connects to the sale of 20 BCM (0.7 TCF).
- Phase 2 connects to the sale of an extra|110 BCM (3.88 TCF). This phase will start just after conclusion of the Leviathan growth job and the building and construction of the brand-new transmission pipeline from Israel to Egypt by means of Nitzana.
Phase one is anticipated to work in the very first half of 2026. This phase will start instantly upon the conclusion of 2 innovative tasks which will make it possible for growth of the production and the transport volume:
- Connection of a 3rd pipeline from the Leviathan tank to the production platform, which will increase the produced gas amount to over 14 BCM (0.5 TCF) per year.
- Connection of the Ashdod-Ashkelon transmission pipeline, which is presently being performed by INGL and is anticipated to increase the gas bandwidth in the EMG pipeline by an extra|2 BCM, which links in between Ashkelon and el-ʻArīsh.
The 2 tasks are anticipated to be finished at the start of 2026, and instantly afterwards, phase among the contract will work. As an outcome, an extra 2 BCM (0.07 TCF) will be offered to Egypt per year out of an overall volume of 20 BCM (0.7 TCF).
Phase 2 of the brand-new contract is anticipated to work after conclusion of the Leviathan growth job (Stage 1B of the advancement strategy) The growth job will significantly increase the gas amount presently being produced in Israel by|30% and will bring the tank’s yearly production capability to|21 BCM (0.74 TCF).
A brand-new pipeline to Nitzana will likewise be built at this phase to increase transport capability for exports from Israel to Egypt Overall gas exports for phase 2 of the brand-new contract is|110 BCM (3.88 TCF), in differing yearly amounts, which will bring the overall sales from Leviathan to Egypt to an overall yearly amount of|12 BCM (0.42 TCF).
For That Reason, the overall sale of|130 BCM (4.59 TCF) of gas, according to a cost formula that is mainly based upon the Brent oil barrel rate, will lead to earnings of around $ 35 billion for all of the partners in the tank The brand-new contract is therefore becoming the biggest export handle the history of Israel, in addition to the biggest and most substantial offer considering that the discovery of the gas tanks in Israel
The conclusion of the offer will lead the way for a last financial investment choice (FID) for the Leviathan growth job (Stage 1B). As part of the preparations, last February the Leviathan partners sent an upgrade to the tank’s advancement strategy to increase yearly production capability to|21 BCM, with a possibility of additional growth to 23 BCM of gas per year. The export license application was likewise just recently sent in relation to the brand-new offer. The tank growth strategy consists of the drilling of extra wells, the addition of associated subsea systems and growth of the processing centers on the platform, in addition to a possibility of laying a 4th pipeline in between the tank and the production platform.
Leviathan is the biggest gas field in the Mediterranean Sea and among the biggest on the planet. According to the current potential resources report for the Leviathan tank, the tank includes|600 BCM (21.2 TCF) and, according to the affordable capital report, production is anticipated to continue till a minimum of 2064.
Yossi Abu, CEO of NewMed Energy: “This is the most tactically essential export offer to ever take place in the eastern Mediterranean, and enhances Egypt’s position as the most substantial center in the area.
” Considering that it started production, Leviathan has actually brought numerous advantages both locally and globally, and the tank’s growth has actually been NewMed’s essential top priority for many years. This offer, enabled by our strong local collaborations, will open additional local export chances, as soon as again showing that gas and the broader energy market can be an anchor for partnership.
” I wish to thank our partners in the property, our Egyptian equivalents and the NewMed personnel associated with the offer as we reach a turning point for our business and beyond.”
NewMed Energy will be hosting an English-language webinar today at 12:00 PM (BST) If you wish to participate in, please sign up with by means of this link: https://us06web.zoom.us/webinar/register/WN_2wR_-BPGSoKzF04me7yDYg#/registration
To learn more, please check out NewMed’s Immediate Report: https://newmedenergy.com/wp-content/uploads/2025/08/NewMed-IR-Amendment-to-Agreement-for-Export-to-Egypt-6.8.2025_.pdf
Contacts
Israel media:
Li-Or Avnon
li-or.a@together-ltd.co.il
Worldwide media:
Billy Clegg| Owen Roberts| Violet Wilson
newmedenergy@camarco.co.uk
+44 (0) 20 3757 4980
SOURCE NewMed Energy