Kochi: Israel is entering into a $35 billion natural gas export deal to Egypt which will gas from Israel for 15 years, the Hindu reported.
Announcing the historic deal, Israeli Prime Minister Benjamin Netanyahu said the business is the biggest in Israel’s history.
The agreement could also help repair relations between the two countries strained during the two-year war in the Gaza Strip.
In a recorded video statement, Netanyahu said the deal “greatly strengthens Israel’s position as a regional energy power, and it contributes to stability in our region.” Egypt, which borders both Israel and Gaza, has served as a key mediator between Israel and the Palestinian militant Hamas group leading up to the U.S.-brokered ceasefire that was agreed on in October.
In early 2000, Israel discovered a huge presence of natural gas off its Mediterranean coast.
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