STORY

Israel approved a $37 billion gas export deal with Egypt on December 17, the largest energy agreement in the country's history.

Chevron and NewMed Energy will pump up to 130 billion cubic meters from the Leviathan field through 2040. Israel collects $18 billion in taxes and royalties. Egypt feeds its growing energy demand and re exports LNG to Europe through its Idku and Damietta terminals.