The Israeli government signed a permit approving the export of natural gas from its offshore fields to Egypt, in a move described as the largest ever economic cooperation agreement between the two states. 

Israel’s Energy Minister Yuval Steinitz said the agreement to supply Egypt with 85.3 billion cubic meters of natural gas over the next 15 years was a “historic landmark.”

The gas will be supplied from the Leviathan and Tamar fields, the former of which is set to go online in January.

The gas is set to supply growing local demand in Egypt, while a portion will also be liquefied for export to other markets.