Turkey could be soon getting its gas from Israel, report

One study in 2008 pointed out that the Lebanese government would bring a return of almost $8 billion annually from first oil or gas discovery to the next 20 years,
One study in 2008 pointed out that the Lebanese government would bring a return of almost $8 billion annually from first oil or gas discovery to the next 20 years,

While the Lebanese politicians have not been able to sort out the mess of the oil and gas issue , Israel which has been for years actively exploring its gas and oil fields could be soon shipping its gas to Turkey. Lebanon ofcourse will be watching the gas tankers pass by its shores as its politicians continue to haggle over their personal shares in the oil and gas find.

Read this complete repot by Turkish daily the Hurriyet.

Ankara- As Turkey and Israel move to restore their relationship after six years of strained ties, both sides are looking forward to the opportunity to transfer Israel’s natural gas to Turkey, a move which could happen as early as 2019, according to Israeli Energy and Natural Resources Minister Yuval Steinitz.

“I think that it is quite likely that Israel will export natural gas to Turkey. And maybe also in the future we will export natural gas to Europe through the Turkish gas transmission system that is now under construction. I think it is good for Turkey. It is good for Israel,” Steinitz told daily Hürriyet over the phone on June 29.

Turkey and Israel reached an agreement earlier this week that will allow the two countries to restore full diplomatic relations, which broke off in 2010 after Israeli forces raided a convoy of aid ships attempting to break the blockade of Gaza, killing nine Turkish activists.

Energy will be an important area of cooperation between the two countries, with Turkey being the most feasible route for Israel’s future natural gas exports.

“The deal, if there will be such a deal, it will be a deal between companies from both sides,” Steinitz said, adding, “Israeli or American companies like Nobel and Turkish companies.”

“The two countries however will have to agree to give some kind of consent to such a deal, and agree to the construction of a gas pipeline from Israeli economic water to Turkey,” he noted.

Israel can currently export 350 billion cubic meters (bcm) of gas, the minister said, adding there was potential for more production.

“According to the estimates, in a few years’ time probably we will be able to export up to 2,500 bcm. This is a lot of gas,” Steinitz said.

“And if this will take place, it is just an estimate [but] this is also the estimate of [the] U.S. Department of Energy that we will discover in the next few years much more gas than what was discovered so far. If this happens Israel will have to export a lot of gas to Western Europe. Then Israel can export gas through Turkey through the TANAP pipeline, a very large pipeline that is going be built, from [the] Caspian Sea to Turkey through Europe,” he said.

Israel has three options to export gas to Europe, according to Steinitz, who outlined each of them.

“[The] first one is the LNG [liquefied natural gas] facilities in [the] Egyptian delta. In Egypt there are two LNG facilities. One of the ideas there was already some kind of MoU [memorandum of understanding] between the companies in Egypt that gas from Israelwill move to [the] Egyptian delta, and in those LNG facilities will be liquefied and shipped with ships from Egypt to Europe. This is one possibility, but it is quite expensive.

“Another possibility is to build a pipeline from the Israeli economic water through Cyprus to Greece, a very long underwater pipeline. This is possible but it is a very big project and it might take much longer. It might take five to eight years to build such a very long undersea pipeline. Technically it is possible but it is quite expensive and quite long.

“The third possibility to export gas to Europe is through Turkey. And there are two possibilities here. One possibility is that Israel will export gas to Turkey. Currently it is a lot of gas, but in the future it might be much more, almost actually unlimited de facto if we find the additional gas fields. And this is very likely. This is highly probable. And the other possibility, if the two countries will agree, is that gas from Israel and [the] Eastern Mediterranean basin in general will be transported through Turkey to Europe. And then Istanbul can become an international energy hub,” he said.

The minister noted the cost estimates for a pipeline to Turkey was “about $2 billion or a little bit less,” adding it would be financed by the private sector with the consent of both Turkey and Israel.

“It will be [financed] by [the] business private sector on both sides. If everything will go well, I think… in 2019 Israeli gas from [the] Leviathan [gas field off the coast of Israel] can be exported to Turkey. It might be as early as 2019.

“But of course you know once Leviathan will begin to produce natural gas, it is possible by this timeline to build a pipeline not just from Leviathan to Israel, but also from Leviathan to Turkey. In the best case scenario we are speaking about approximately three years. Of course it might take longer, it depends. But actually technically, if everything goes well, in three years from now Israeli natural gas can already be exported to Turkey,” Steinitz said.




3 responses to “Turkey could be soon getting its gas from Israel, report”

  1. master09 Avatar

    Lebanon ofcourse will be watching the gas tankers pass by its shores as its politicians continue to haggle over their personal shares in the oil and gas find.

    1. They’ll probably be busy telling each other – and some gullible common folk – that both the gas and the tankers were “stolen” from them. 🙂

  2. Barry Avatar

    This is really an incredible thing. Turkey has so few friends left they had to give more than the Israelis on a rapprochement. The small country held firm, consulted with its US and Russian allies, and gets so much more. I do not want to rub it in the Turks’ faces and they gain as well. But they really wanted to lift the Gaza blockade (no) and the $25million or so in the fund for the Mavi families is a drop in the bucket compared to a future gas deal.
    And Erdogan had to apologize to Putin, of all things. Truly amazing.

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