Israel plans to export natural gas

Israel plans to export its natural gas, and to build pipeline connections, regulator says.

Israel plans to export natural gas

World Bulletin / News Desk 

Israel has plans to export its natural gas, Orit Farkash Hacohen, chairwoman of the Israeli Electricity Department of Public Utilities Authority, told on Monday.

"We know that Israel has huge gas reservoirs offshore. There are definitely plans to export gas," she said.

The Leviathan field is due to start operating in 2016 or 2017. There is a proposal for a pipeline through Turkey that would allow access to European markets for the Israeli gas.

"We need geographical suitability to export natural gas. With regards to all international initiatives, this is a policy matter that is being held by the government," she said.

"The Israeli government has set quite clear export rules for gas dealers and drillers in order to have a clear and better financial model," she said.

In 2009, Israel discovered the Leviathan natural gas field with resources of almost 600 billion cubic meters near Haifa off the coast of Israel.

- Israel's electricity

Hacohen said Israel’s regulations for the energy market are still under discussion, and that there are not sufficient electricity reserves for the country to export it.

"We are an island economy in terms of electricity; we are not connected to any other country. This affects security of supply and creates the need to maintain high electricity reserves," she said.

Hacohen expressed her hope for a better relationship between Turkey and Israel.

"People here are really nice, Istanbul is a beautiful city. I’m very supportive of anything that can make the relationship of two countries better," Hacohen said.

Güncelleme Tarihi: 02 Haziran 2015, 11:37