CAIRO – Egypt's president says his country "scored a goal" by signing a $15 billion deal with an Israeli company to supply natural gas that will help turn Egypt into a regional energy hub.
Abdel-Fatah el-Sissi said in televised comments on Wednesday that the project "has a lot of advantages" for Egyptians.
Delek Drilling and its U.S. partner, Noble Energy, signed the agreement on Monday to sell a total of 64 billion cubic meters of gas over a 10-year period to Egyptian company Dolphinus Holdings. The gas is expected to start flowing next year.
Egypt was the first Arab country to make peace with Israel, in 1979, but past economic agreements have been controversial in the Arab world's most populous country, where popular support for Palestinians runs high.