NEWS

Reuters: Turkiye, Israel in talks on construction of gas pipeline

MARCH 30, 2022

Turkiye and Israel are discussing the construction of a gas pipeline to Israel's largest offshore natural gas field, Leviathan, Report informs, citing Reuters.

"Concrete decisions" could follow in coming months on a proposed route and participating entities.

A Turkiye-Israel gas pipeline is being discussed behind the scenes as one of Europe's alternatives to Russian energy supplies, but it will take complicated maneuvering to reach any deal, government and industry officials in both countries say.

The Leviathan field already supplies Israel, Jordan and Egypt. Its owners - Chevron (CVX.N) and Israeli firms NewMed Energy and Ratio Oil (RATIp.TA) - plan to crank up production from 12 to 21 billion cubic meters (BCM) a year.

The problem, a senior official in the Israeli gas sector said, is that there were already two proposed routes for the extra supplies from Leviathan: via existing LNG plants in Egypt or a planned floating LNG facility.

The pipeline would run 500-550 km and cost up to 1.5 billion to build, according to Israeli officials, making it more manageable than the 6 billion euro pipeline EastMed proposed to connect Israel with Cyprus, Greece and Italy.

https://report.az/en/energy/reuters-turkiye-israel-in-talks-on-construction-of-gas-pipeline/