CAIRO/ISTANBUL

Egyptian Prime Minister Mostafa Madbouly said Wednesday that an agreement reached with NewMed Energy, a partner in Israel’s Leviathan gas field, is simply an extension of a 2019 deal until 2040, stressing that this does not affect Egypt’s position in support of Palestine.

The remarks came during his weekly press conference, according to a Cabinet statement, marking the first official Egyptian comment on what Israeli media and Israeli Energy Minister Eli Cohen said last Thursday regarding Cairo’s signing of a $35 billion gas supply agreement with the Israeli company.

“There has been debate and confusion over the announcement about extending the agreement with NewMed Energy, the Leviathan field partner. This agreement with Egypt has been in place since 2019,” Madbouly said.

“All we agreed upon is to extend the agreement until 2040, with expectations of increased production, which they want included in Egypt’s gas system, given that Egypt is a regional energy hub,” he added.

He said that being an energy hub means Egypt is not only a gas producer but also a regional center for gas trade, noting the country’s extensive infrastructure, including two liquefaction plants in Idku and Damietta, which many regional states lack.

Madbouly said Egypt is already transforming into a regional energy hub and called for looking at the matter from a broader perspective.

He dismissed claims that the deal could influence Egypt’s political decisions or pressure the state, stressing that the agreement has existed since 2019 and that Gaza has been in conflict for nearly two years.

He underlined that the agreement has not affected Egypt’s firm and clear stance since the Gaza crisis began, nor its rejection of all attempts to “liquidate the Palestinian cause” or forcibly displace Palestinians from their land.

“This position is not tied to commercial or economic relations,” Madbouly said. “On the contrary, Egypt’s position on the Palestinian cause is fixed and will not be altered by such agreements.”

Egypt has repeatedly rejected the displacement of Palestinians from the Gaza Strip, which has faced an Israeli genocidal war and starvation for almost two years.

Last Thursday, Israel’s Maariv newspaper reported that NewMed Energy, a subsidiary of the Delek Group owned by Israeli businessman Yitzhak Tshuva, announced the signing of an agreement to export gas from the Leviathan field to Egypt. The deal is worth $35 billion and is set to continue to 2040.

The paper noted that the deal expands the existing 2019 export agreement for 60 billion cubic meters to approximately 130 billion cubic meters from the Leviathan field, which holds around 600 billion cubic meters of natural gas.​​​​​​​

Israeli gas is transported to Egypt via an undersea pipeline from the Leviathan and Tamar fields to a reception terminal in North Sinai. Cairo uses part of these supplies to meet domestic demand and re-exports some as liquefied natural gas from its Idku and Damietta plants to European and Asian markets.