A magnetically shielded, efficient plasma generation configuration for a pulsed discharge extreme ultraviolet (EUV) light source comprises two opposed convex electrodes mounted with axes parallel to a static magnetic field. A limiter aperture disposed between the electrodes, in conjunction with the field lines, defines a hollow plasma cylinder connecting the electrodes. A high pulsed voltage and current compresses the plasma cylinder and its interior magnetic field onto the electrode surfaces to create a magnetic insulating layer at the same time as propelling the working gas from each side toward the space between the electrode tips. The plasma then collapses radially in a three-dimensional compression to form a dense plasma on the axis of the device with radiation of extreme ultraviolet light.