Prime Minister Binyamin Netanyahu held telephone conversations this past weekend with Cyprus President Nicos Anastasiades and Greek Prime Minister Kyriakos Mitsotakis.
The three agreed to hold a summit of leaders soon during which an "East-Med" gas pipeline agreement is expected to be signed, creating a gas pipeline from Israel through Cyrpus to Europe.
The meeting will take place next to the Jerusalem Leaders Summit, which was held with US Secretary of State Mike Pompeo last March.
Prime Minister Netanyahu and Minister of Energy Steinitz are expected to fly to Greece at the beginning of January for the summit of leaders, which will be held for the seventh time.
This is an intergovernmental agreement that goes further to the Memorandum of Understanding signed in 2017 and after a preliminary feasibility study was conducted. The agreement will enshrine the states commitment to the project.
The government ministries, headed by the Ministry of Energy and the Prime Minister's Office, have in recent years promoted the project that they say will "contribute to Europe's energy security and to the prosperity of Israel and the Mediterranean."