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A far as I am aware, it is still in effect today.

I doubt very much that Israel, Netanyahu or not, is interested in annexing Gaza. There are good reasons why Israel (under an earlier Likud PM Sharon) disengaged from the territory, but that's a whole other issue.

A two state solution is now more likely than ever - all the Arab states that have been against it for the past 80 years are on board with it now. The right wing Netanyahu coalition will most likely not outlast the next election, and Netanyahu as a political leader is not likely to last even that long.

But even assuming the most extreme scenario of Netanyahu's right wing remaining in power and annexing both Gaza and the West Bank, Egypt still has a legitimate claim to the Gaza fields. Netanyahu will certainly not annex Egypt, under any fantastic scenario.

Besides, Israel has far greater deposits of gas in the Leviathan basin, in its own commercial maritime zone, with no inconvenient and/or hostile partners to share it with. If Israel ever decides to annex the West Bank, it will not be for the control of the Gaza basin, but for the control of Judea and Samaria, the so-called "promised land". This is of far greater significance to Israel's religious right wing than the Gaza fields.

Whether or not the religious right can hold on to power without the shrinking Likud and Netanyahu, is a big question.