(Bloomberg) -- Egypt began receiving natural gas from Israel, enacting a deal initially worth $15 billion that’s part of the North African country’s plan to become an energy re-export hub on Europe’s doorstep.

The step “represents an important development that serves the economic interests for both countries,” Egypt’s Oil Ministry said early Wednesday in a statement announcing the first transfer.

Under the pact, Israeli gas will be processed at Egyptian liquefied natural gas factories before being exported to Europe.

https://ca.yahoo.com/finance/news/israel-gas-finally-reaches-egypt-072228703.html