Israel’s government has given the go-ahead to begin exporting natural gas to Egypt in a move which could signal an improvement in relations between the two countries.
The country will be able to sell five billion cubic metres of gas to Egypt over the course of the next seven years from the Tamar site off its Mediterranean coast.
The announcement was made by Israel’s energy minister Yuval Steinitz.
He said “after years of delay and debate” the country was moving forward as it looked to position Israel as a “regional natural gas power”.
Israel, long an importer of gas, has seen its fortunes change since such discoveries as the Tamar field.
Egypt had been selling gas to Israel under a 20-year agreement.
However, that collapsed in 2012 after months of attacks on the pipeline by militants in Egypt’s Sinai peninsula.
Tamar, with estimated reserves of 280 bcm, is owned by Texas-based Noble Energy as well as Delek Drilling and Avner Oil Exploration – two units of the Delek Group.
They have said the agreement to supply gas to Egypt still hinges on regulatory and other approvals.