"Hurriyet": No Israel-Turkey gas deal without Erdogan OK

Energy Minister Taner Yildiz told the newspaper: We wont operate a project with Israel without seeing that the conditions put by the prime minister are met.

Turkish daily "Hurriyet Daily News" quotes Energy Minister Taner Yıldız as saying that Turkey will not agree to an energy project with Israel without the approval of Prime Minister Recep Tayyip Erdogan, commenting on an Israeli offer to lay an undersea natural gas pipeline to Turkey for export to Europe. He told CNBC-e, "We cant act like nothing ever happened. We wont operate a project with Israel without seeing that the conditions put by the prime minister are met [first]."

"Hurriyet" says, "Israel has offered to lay an undersea natural gas pipeline to Turkeys south coast in order to sell energy to Europe. The Leviathan field, Israels biggest, contains an estimated 425 billion cubic meters of natural gas, and the field will produce enough gas to supply all of Israels needs for the coming years. As such, the country is looking to export the excess gas."

The paper quotes Taner as saying that Turkeys main objective is to benefit from its geographical advantages and cooperate with its neighbors on energy, but Israel knows Turkeys sore points, adding, Unless the political conditions mature, beginning these kinds of projects is risky."

On Thursday, "Globes" reported that, in the past few weeks, the partners in the Leviathan gas field have received queries from some of Turkey's biggest companies and Western multinationals operating in the country interested in buying natural gas from the reservoir.

"Hurriyet" cites Israeli newspapers as suggesting that Turkeys Zorlu Energy Group could become involved in the project. "The company said it has been an important energy player in Israel and has shares in several power plants in the country, adding that the idea of laying an undersea pipeline between the two countries had been broached several times in business meetings but official offer has been made. In Israel, Zorlu owns a 25% stake in Dorad Energy, which is developing a power plant in Ashkelon. It also has a 42% interest in cogeneration projects at the Ashdod and Ramat Negev plants."

Published by Globes [online], Israel business news - www.globes-online.com - on February 17, 2013

Copyright of Globes Publisher Itonut (1983) Ltd. 2013

View comments in rows
Update by email about comments talkback
Your name
Please insert your name
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments

Twitter Facebook Linkedin RSS Newsletters Capital  Markets Conference 2017