International Energy Agency chief economist Fatih Birol says Israel's apology to Turkey would facilitate cooperation over gas exports.
Turkey's "Anadolu Agency" quotes International Energy Agency Chief Economist Fatih Birol as saying that Israel's apology to Turkey over the Marmara incident would facilitate the close partnership between Turkey and Israel on energy projects while isolating the Greek Cypriot administration. "An (Israeli apology) opened the way for Turkey to be world champion in energy transferring", he said, adding that Turkey could transfer the energy resources to the world market together with Israel.
According to "Anadolu Agency", Birol indicated that Turkey offered the most economically advantageous way for Israel in transferring Eastern Mediterranean natural gas to international markets. He also predicted that Israel had the capacity to extract gas 7-8 times more than its internal need to be sold in the international markets.
Birol said that no obstacle remained in importing Israeli gas, while there was rising interest on the gas around Cyprus, although the cost of extracting the gas was still unknown. "We know there are rich reserves" he said.
Published by Globes [online], Israel business news - www.globes-online.com - on March 27, 2013
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