The deal is believed to be the largest and most significant commercial agreement between Israel and the United Arab Emirates since the establishment of diplomatic relations.
“Chevron is committed to working in partnership with all stakeholders in Israel to achieve mutually beneficial outcomes.”
Israel currently operates two major natural gas fields in the Mediterranean Sea: Tamar and Leviathan.
The IEC claims it could lose up to $50 million in the upcoming year due to Chevron refusing to sell gas from Tamar at a reduced rate.
The Zalul Environmental Association, an Israeli NGO, has expressed concerns over Chevron's environmental track record, citing incidents in Ecuador, Nigeria and California.
The experimental pumping will continue for three months and will test the infrastructure prior to the flow of the actual commercial supply.
“The agreement is a further proof of the important economic cooperation between the two countries and the tremendous positive impact that these relations have on both economies."
In an attempt to pay a lower tax rate for a sale they had made, Shraga Brosh attempted to falsify documents to have his company registered as a family company.
"This is another milestone for the discovery and development of additional natural resources in the economic waters of the State of Israel," said Energy Minister Yuval Steinitz.
The pipeline, in general, is already in good condition, but the Israeli and Egyptian gas companies found some missing and faulty components.