Israel became a major energy exporter this week after signing a permit to export natural gas to Egypt.



The announcement came just days before a lucrative Israeli gas field in the Mediterranean Sea is expected to go online.

“Financial Issues” radio host Dan Celia says it’s an “amazing thing” to watch the small nation develop what is considered one of the largest gas fields in the world and the largest in the Mediterranean.

Celia

In remarks reported by The Associated Press, Energy Minister Yuval Steinitz called the permit a "historic landmark" for Israel and said the project marks the most significant economic cooperation between the neighboring countries since they signed a peace deal in 1979.

"The natural gas revolution turns us into an energy power and affords us not just huge income for the country but also a dramatic decrease in air pollution," Steinitz said.

Israel is planning to wean itself off coal thanks to the expected gas boon.

"There are verses in the Bible about the treasures beneath the sand in Israel," Celia told his radio audience. "I think this is scripture unfolding before our eyes and it's extremely exciting for us to see this kind of activity in Israel."