Israeli Prime Minister Benjamin Netanyahu disclosed details of a major natural gas agreement with Egypt while testifying in his ongoing trial Wednesday, describing the arrangement as "historic" but noting it carries "complex implications" that require careful consideration.
According to Israel Hayom, which first reported last month that Netanyahu was reconsidering the deal, the Israeli leader is now reassessing the agreement due to alleged violations of the peace treaty by Egypt. The news outlet revealed that Netanyahu, working alongside Energy Minister Eli Cohen, has been evaluating whether and how to proceed with the gas exports in light of Egypt's reported breaches of its obligations.
"Until 7 p.m. I dealt with several matters, among them a gas deal that requires a decision," Netanyahu told the court during Wednesday's hearing. "It must be decided upon in the coming days. It is a historic deal. It has both positive and complex implications."
The revelation suggests Israel is employing a significant energy-economic lever for the first time, linking Egypt's compliance with treaty obligations to Israel's willingness to supply much-needed natural gas. This strategic approach marks a notable shift in how Israel manages its relationship with its southern neighbor.
Egypt has been grappling with severe energy shortages in recent years, periodically resulting in rolling blackouts that last several hours across various parts of the country. The planned power outages have created substantial challenges for Egyptian citizens and businesses alike, making access to additional energy sources increasingly critical for Cairo.
While Egypt possesses substantial natural gas fields of its own, the country diverts much of its production to export facilities where the gas is liquefied for international sale. This strategy allows Egypt to obtain foreign currency and support its struggling trade balance while attempting to bolster dwindling foreign reserves. Consequently, gas imported from Israel has become crucial for meeting domestic energy demands.
Israeli gas exports are intended to help alleviate Egypt's energy shortage, but Netanyahu's comments indicate the deal involves considerations beyond simple commercial transactions. Israel Hayom also learned that during discussions Tuesday night, the prime minister addressed concerns about weapons smuggling from the Sinai Peninsula, suggesting the gas arrangement may be part of broader security negotiations between the two nations.
The timing of Netanyahu's court disclosure adds another layer of complexity to the situation. By detailing his schedule and the importance of the gas deal during legal proceedings, the prime minister emphasized the agreement's significance to Israel's strategic interests while simultaneously using the judicial platform to explain his involvement in high-level diplomatic and economic matters.
Picture: Gemini AI