Prime Minister Benjamin Netanyahu delivered an address on Wednesday announcing that he approved a major gas deal with Egypt.
“I approved the largest gas deal in Israel’s history – 112 billion shekels. Of that, 58 billion shekels will go to the state’s coffers,” Netanyahu stated.
“In the first four years, we will receive half a billion shekels for the state’s coffers, and after that it will begin to increase, until it reaches six billion shekels a year,” he added.
According to the Prime Minister, “This money will strengthen the nation’s educational infrastructure. I approved the deal after I ensured our security interests. The deal encourages the search for gas in our region, and encourages companies to sell gas for a low price to you, citizens of Israel.”
Flanking Netanyahu during the statement was Minister of Energy Eli Cohen. Netanyahu concluded his address by saying, “I want to tell the citizens of Israel – there will be more good surprises.”