Israel signs $10 billion, 15-year natural gas deal with Jordan


(Israel Hayom/Exclusive to Israel and Jordan on Monday finalized a landmark 15-year, $10 billion agreement in which Israel will supply its neighbor with natural gas from the offshore Leviathan field.

Workers seen at the Tamar gas field off the northern coast of Israel. Credit: Moshe Shai/Flash90.

The agreement is Israel's first energy export deal and follows the approval of Israel's national energy plan, which still causes controversy in the Knesset.

Leviathan, discovered in 2010 roughly 130 kilometers (81 miles) west of Haifa, holds an estimated 22 trillion cubic feet of natural gas. The field is one of the world's largest offshore discoveries of the past decade.

Energy Minister Yuval Steinitz lauded the deal as a "national achievement," saying that those who criticize the deal "should apologize to the Israeli public this coming Yom Kippur. Had their ridiculous campaign of deception succeeded, Israel would have lost one of its most important strategic resources. The gas framework has proved itself and it will facilitate the future development of Leviathan. This is a historic moment for Israel, which has become, for the first time, an energy exporter. I have no doubt more deals with more countries will follow."

Posted on September 27, 2016 .