The EastMed project is expected to make the three countries key links in Europe's energy supply chain.
ADVERTISEMENTGreece, Cyprus and Israel have signed a deal for a pipeline designed to move gas from the eastern Mediterranean to Europe.
The EastMed line is intended to provide an alternative gas source for energy-hungry Europe.
The 2,000-kilometre pipeline will transfer up to 12 billion cubic metres a year from offshore gas reserves between Israel and Cyprus to Greece, and then onto other countries in southeast Europe. It's expected to provide around 10% of the EU's natural gas needs.
The move comes amid tensions with Turkey over its own activities in the area.
The discovery of hydrocarbon reserves in the eastern Mediterranean has sparked a scramble for the energy riches in the region.
Gabriel Mitchell, a policy fellow at the Mitvim Institute in Jerusalem, says the signing of the deal is no guarantee the construction of the pipeline will go ahead.
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