In what has been described as the largest gas trade deal in the history of Cairo-Tel Aviv relations, Israel’s NewMed Energy—holder of a 45% stake in the giant Leviathan field in the Eastern Mediterranean—has announced a new agreement to expand natural gas exports to Egypt.

Valued at approximately $35 billion and extending until 2040, the agreement entails the supply of around 130 billion cubic meters of gas. Egyptian Prime Minister Mostafa Madbouly has defended the deal as part of the country’s plan to become a regional energy hub, leveraging the liquefaction plants in Idku and Damietta.

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