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Israel reaches deal to export natural gas to Europe

December 13, 2016 at 10:18 am

Gas station [Joe Mabel/Wikipedia]

Israel, Cyprus and Greece have signed a memorandum to build a pipeline tapping natural gas recently discovered by Israel in the Mediterranean Sea to Europe, Quds Press reported yesterday.

According to the Israeli general radio, the Israeli National Infrastructure, Energy and Water Minister Yuval Steinitz said that the memorandum, which was reached with his Greek and Cypriot counterparts, would transport natural gas to Cyprus, Greece and then to Italy.

Israeli radio also reported the minister as saying the discovery of the natural gas generates massive commercial interests to Israel, noting the project of the pipeline is “strategic for all of the involved countries.”

Speaking to journalists in October, Steinitz said: “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.”

Although not clear exactly when, the three ministers from the three countries will likely meet with the EU energy commissioner in the near future in order to push the project forward.

Shaul Meridor, another senior official in the same Israeli ministry, yesterday said that Israel and Turkey reached a deal about exporting gas to Turkey which may act as another pipeline to Europe.