Egypt says gas deal with Israel is ‘strictly commercial’

Egypt said on Thursday that a natural gas deal with Israel was a “strictly commercial” arrangement with no political dimensions, adding it was concluded by private energy companies under market rules without direct government intervention.
On Wednesday, Israel approved an export deal signed in August with Chevron and its partners, NewMed and Ratio, to supply up to $35 billion of gas to Egypt from the Leviathan natural gas field.
The deal comes amid heightened regional tensions following Palestinian group Hamas’ deadly attack on Israel on October 7, 2023, and Israel’s subsequent war on the Palestinian enclave of Gaza that has left tens of thousands dead.