Israel aims for world energy exporter status, prepares deal with Greece, Cyprus

Israel is a few steps away from joining a select and rather small club in the world, as Israeli officials are taking measures to push the country among energy exporting states. Jerusalem is ready to join Athens and Nicosia in a project that would see a gas pipeline laid across the Mediterranean into Greece and from there all the way to other European countries.

The announcement was made on Tuesday by the Israeli National Infrastructure, Energy and Water Minister Yuval Steinitz, a day before he left for Athens, where he is meeting with his omologues from Greece and Cyprus to discuss the details of the future gas pipeline.

“We will export gas to other countries in the region, and also to Europe. That will turn us into a world energy player and enable us to discover and develop additional large gas fields,” Mr. Steinitz said in front of reporters minutes before joining the cabinet meeting on Tuesday.

The Israeli Minister’s visit in Greece comes weeks after Energean Oil & Gas, a Greek company specialised in exploration and procession of hydrocarbon, announced a 148,5 million US dollar deal signed for the acquisition of the Tanin and Karish gas reservoirs from one of Israel’s largest companies, the Delek Group. The Israeli state has yet to approve of the deal.

On Monday, Israeli oficials announced another groundbreaking deal, this time in partnership with Jordan. According to Minister Steinitz, Israel will sell $10 billion dollars worth of gas to Jordan in the next 15 years, with a gross quantity of 45 billion cubic metres of gas, or 8 and a half million cubic metres per day. The gas will be supplied to Jordan’s National Electric Power Company Ltd. from the Leviathan basin, located in the Mediterranean Sea, off the coasts of Israel.

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