NewMed Energy, a partnership controlled by Israeli businessmen Yitzhak Tshuva and Idan Wels through the Delek Group, has signed a massive natural gas export deal with Egypt worth $35 billion.
Under the agreement, natural gas from Israel's Leviathan reservoir will be sold to Egypt in two phases. The first is expected to begin in the first half of 2026, while the second will commence after the planned expansion of the Leviathan field is completed. The deal is a key step in boosting output from Leviathan, enabling a significant increase in available gas for Israel's domestic market and enhancing Israel's long-term energy security.
Following the announcement, shares of Delek Group and NewMed Energy rose by approximately 4% on the Tel Aviv Stock Exchange.
"NewMed Energy is once again reshaping the rules of the regional energy game," said NewMed CEO Yossi Abu. "Leviathan is a tool for strategic transformation, and I believe this deal will pave the way for additional agreements with more countries in the region."
