Day 804 - Israel and Egypt clinch massive gas deal. What's behind it?

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Dec 18, 2025

In this engaging discussion, Jacob Magid, the U.S. Bureau Chief for The Times of Israel, breaks down Israel's historic NIS 112 billion gas deal with Egypt, revealing its implications amidst U.S. diplomatic pressure. He delves into the motivations behind Israel's delayed signing, as well as the geopolitical significance of the newly formed Board of Peace. Jacob also touches on Palestinian protests over prisoner payment reforms and the shifting dynamics of U.S. political support for Israel, painting a complex picture of the current tensions in the region.

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INSIGHT

Gas Deal Unlocks Trilateral Momentum

The Israel-Egypt gas deal is a major economic win worth about $35 billion and involves Chevron as a key partner.
U.S. pressure helped push Israel to sign, aiming to pave the way for a trilateral Netanyahu-Sisi-Trump meeting at Mar-a-Lago.

INSIGHT

Economics Over Politics In Cairo

Egypt signed its side in July despite political sensitivity, prioritizing economics over politics under President Sisi.
Israel delayed signing due to diplomatic friction and U.S. pressure ultimately tipped the balance.

INSIGHT

Rafah Concerns Shape Egypt's Stance

Gaza and the Rafah crossing remained a core sticking point between Israel and Egypt, with Cairo fearing Palestinian displacement into Sinai.
That security concern limited Egypt's willingness to reopen normal ties or swiftly meet with Netanyahu.

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Welcome to The Times of Israel's Daily Briefing, your 20-minute audio update on what's happening in Israel, the Middle East and the Jewish world.

US bureau chief Jacob Magid joins host Amanda Borschel-Dan for today's episode.

Prime Minister Benjamin Netanyahu announced in a video message that he has approved the largest energy deal in Israel’s history. The natural gas deal with Egypt is worth NIS 112 billion ($34.7 billion), of which NIS 58 billion ($18 billion) will go into public coffers. Magid gives insight into the slow rollout of this massive deal.

Magid reported yesterday that the US has secured commitments from Egypt, Qatar, the United Arab Emirates, the United Kingdom, Italy and Germany to have their leaders join US President Donald Trump on the Board of Peace that will oversee the postwar management of Gaza. We review the significance of the names that are currently not on the list and the ambiguous mandate of the International Security Force -- including an apparent walk-back from forcing Hamas to disarm.

On Sunday, hundreds of Palestinians attended protests across the West Bank against the Palestinian Authority’s new prisoner payment system. Does this public anger indicate that Ramallah is moving ahead with the Western-pushed welfare reform, or is it all smoke and mirrors, as Israel's Foreign Ministry alleges?

In the annual Hanukkah party on Tuesday, US President Donald Trump said that Congress “is becoming antisemitic,” as the “Jewish lobby” is no longer the strongest in Washington. Though he wasn't given a White House latke this year, Magid agrees to set the scene and delves into statements made at the celebration.

Check out The Times of Israel's ongoing liveblog for more updates.

For further reading:

‘Historic moment’: Netanyahu announces $34.7 billion natural gas deal with Egypt

Six countries have committed to joining Trump’s Board of Peace, say officials

ISF will not fight Hamas, say US officials, who still seek to deploy force next month

Palestinians protest PA prisoner payment reform, in apparent sign of implementation

At White House Hanukkah party, Trump laments ‘Jewish lobby’ no longer most powerful

Subscribe to The Times of Israel Daily Briefing on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts. This episode was produced by Podwaves.

IMAGE: A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal beach of Nasholim, on August 29, 2022. (JACK GUEZ / AFP)

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