JERUSALEM, May 5 (Xinhua) -- Israel and the United States will establish a joint energy center at an initial investment of 40 million U.S. dollars, Israeli Ministry of Energy said Sunday.

The energy ministries of both countries, along with the Israel Innovation Authority, have issued a call for proposals to set up the new center in 5 years.

The center will deal with natural gas, cyber protection for energy and water facilities, water and energy interfaces as well as energy storage.

The center's main target is to promote the energy security and economic development of Israel and the United States through cooperation between companies, research institutions and universities in research and development of innovative technologies.

"The new center will expand the successful research and development cooperation of the energy ministries of the two countries and will be a source of creative partnerships," said Israeli Energy Minister Yuval Steinitz.