Energy

Turkish and Israeli companies are currently discussing a possible gas pipeline to be built between Israel and Turkey to transport natural gas supplies from the Leviathan gas field in the Mediterranean Sea off the coast of Israel to Europe. The field holds an estimated 620 billion cubic meters of gas.

Israel sees Turkey not only as a big market but also as a major economy in the region, Delek’s Gas Pipeline Project Director said recently. Speaking on the sidelines of 17th International Energy Arena in Istanbul, he said the Leviathan gas field is the biggest discovery of the Eastern Mediterranean discovered seven years ago.

“Leviathan’s full development is going to be 2.1 billion cubic feet [bcf] a day, roughly 21 billion cubic meters [bcm] of natural gas a year. This is one of the largest offshore projects in oil and gas in the last year and a half,” he said.

“When we look at the area, we see first of all the domestic Israeli market, and then we see the Palestinian Authority, we see Jordan, and in the second phase we see two bigger regional markets that are Turkey and Egypt,” he added.

The first phase of the Leviathan development project will supply the Israeli domestic market, the Palestinian authority and Jordan, while the second phase is planned to supply Turkey and Egypt, according to Delek Group.

With regards to the development of regional markets, three major areas can be considered to forge ahead with developing energy relations.Turkey is seen as a significant potential partner, and the next step is to put words and plans into action, he said, adding that he expects greater bilateral relations.

The Delek Group, Israel’s dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean’s Levant Basin into one of the energy industry’s most promising emerging regions.

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