Israel and Jordan are negotiating a water exchange deal designed to relieve water shortages in both countries, the Ynet news website reported on Thursday.

According to the reported outline of the negotiations, a desalination plant would be set up in Aqaba, Jordan and a portion of the desalinated water would be sold to Israel to be used in its southern Negev Desert.

In turn, Israel would sell drinking water from the Sea of Galilee to Jordan to be used in the country's northern part.

At a press conference earlier this week, Jordanian Prime Minister Abdullah Mansour said Amman will sell Israel desalinated water at 1 dinar (about 1.41 US dollars) per cubic meter.

The deal is expected to save Jordan the cost of transferring water from south to north and help it deal with the severe water shortage caused by the massive influx of Syrian refugees to northern Jordan.

Israel and Jordan signed a peace treaty in 1994, which includes a clause pertaining to cooperation on water issues.