An Egyptian official confirmed on Thursday the signing of an agreement with Israel worth $35 billion to import natural gas from it, emphasizing that the agreement has no political dimension.
Diaa Rashwan, head of the State Information Service, said in a statement that the deal is "purely commercial, formed based on purely economic and investment considerations, and does not entail any political dimensions or understandings of any kind."
He added that this agreement achieves a "clear strategic interest for Egypt, represented in enhancing its position as the only regional hub for gas trading in the Eastern Mediterranean relying on advanced infrastructure and huge investments."
Israeli Prime Minister Benjamin Netanyahu announced on Wednesday that he had approved a massive $35 billion agreement to sell gas to Egypt.
The two countries signed a peace agreement in 1979, yet it has not succeeded in normalizing relations between them, especially at the popular level.
The announcement of this agreement comes at a time when talks are still stalled regarding the second phase of the ceasefire agreement that Egypt helped mediate between Israel and Hamas in the Gaza Strip, amid mutual accusations of violating the truce.
Rashwan confirmed that "the timing of the announcement does not alter the fact that the agreement is the result of commercial negotiations that took place previously according to market rules."
He indicated that "what occurred is a commercial contract subject to market rules and international investment mechanisms, away from any political employment or interpretation."
Israeli Energy Minister Eli Cohen described the agreement on Wednesday as "the largest export deal in Israel's history."
Netanyahu said the agreement "will enhance Israel's position as a regional energy power and will contribute to the stability of our region."
He explained that the agreement was concluded "with the American company Chevron, in cooperation with Israeli partners who will supply Egypt with gas."
Meanwhile, the Israeli company "NewMed Energy" reported on Wednesday evening that it "received permission to export gas to Egypt, allowing the implementation of the agreement valued at about $35 billion."
Egypt has faced several energy crises in recent years and has sought to meet its domestic needs while enhancing its position as an energy hub in the region.
