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11.04.2016 18:47
Turkish Companies Interested in Transporting Israeli Gas to Europe
The timely development of Israel’s huge Leviathan natural gas field off its shores in the Mediterranean however is questionalble, as in the end of March an Israeli supreme court ruling barred the government from giving a 10-year guarantee to an American energy firm and its Israeli partner
AUTHOR: publics.bg


  • © Strocchi, flickr.com

At least 15 energy companies want to be part of a planned consortium which will carry Israeli gas to Europe via Turkey, according to Turcas CEO Batu Aksoy, who said the first Israeli gas may reach Turkey in the next five years.

The holders of rights in Israeli’s natural gas reservoir have been in contact with Turkish companies for months, including Turcas, concerning exports of Israeli gas, Hurriyet Daily reported.

Aksoy noted it was not possible for a single company to deal with such big exports, adding that the estimated 8 billion cubic meters (bcm) of Israeli gas could be taken on an annual basis by sharing the risks with reliable partners.

The timely development of Israel’s huge Leviathan natural gas field off its shores in the Mediterranean however is questionalble, as in the end of March an Israeli supreme court ruling barred the government from giving a 10-year guarantee to an American energy firm and its Israeli partner. The court ruled out a guarantee clause in a deal reached last year between Prime Minister Benjamin Netanyahu and the consortium of Texas-based Noble Energy and Israeli partner Delek Group, as reported by Reuters.

Noble called the court’s decision “disappointing” and said it risked causing a delay in the USD 5 billion-USD 6 billion project to develop the 22 trillion-cubic-foot gas field.

Yossi Abu, chief executive of Delek’s subsidiaries Delek Drilling and Avner Oil, said the companies would work with the government to find an alternative to the stability clause, and push ahead with development plans in the hope of avoiding delays.

Noble and Delek are already producing gas for domestic consumption from Tamar, a smaller field nearby.

With nearly all of Israel’s proven gas deposits in the hands of Noble and Delek, opposition lawmakers and public advocacy groups have taken to the streets to protest against what they consider a gas monopoly that will hurt consumers.


TAGS: Turkey | energy | gas | natural gas | Israel | Tamar | Leviathan | gas exports | Delek | Noble Energy | Turcas 


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