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Exclusive: Italy seeking Israeli-Egyptian-Italian natural gas export cooperation
Representatives of the Italian energy company Eni are expected to meet with Israeli PM this week
Italy has proposed a joint Italian-Israeli-Egypt cooperation on natural gas, i24news has learned. Representatives of the Italian energy company Eni are expected to arrive in Israel this week and will be meeting with the Israeli Prime Minister and Energy Minister Yuval Steinitz to discuss ideas for joining forces on gas exports to Europe.
The issue was first discussed by Israeli Prime Minister Benjamin Netanyahu and Italian Prime Minister Matteo Renzi in their August 30th meeting in Florence, which took place hours after Cairo announced a historic discovery of a natural gas field off the coast of Egypt.
The enormous discovery, described as the largest ever natural gas resource found in the Mediterranean sea, was considered a significant blow to Israel's own hopes of achieving energy independence by becoming a natural gas export powerhouse. According to a well informed source, Renzi raised the prospect of Israel joining forces with Eni, the Italian energy giant developing Egypt's gas reserves, and connecting subsea fields in Israel to Egypt’s pipeline network, enabling export to Europe.
An Israeli official confirmed Eni representatives will be arriving in Israel this week, though stressed that discussions are only in "very initial stages."
The field discovered by Eni, Zohr, is considered a game changer in the Mediterranean energy play. The field can hold a potential of 30 trillion cubic feet of gas – thirty percent larger than the Israeli Leviathan field which held the title until today. The discovery came amid a serious Israeli delay in production from its own natural gas fields, Tamar and Leviathan, due to political disputes over price export and profits with the companies developing the fields, Delek Drilling and Noble Energy
http://www.i24news.tv/en/news/inter...yptian-italian-natural-gas-export-cooperation
Exclusive: Italy seeking Israeli-Egyptian-Italian natural gas export cooperation
Representatives of the Italian energy company Eni are expected to meet with Israeli PM this week
Italy has proposed a joint Italian-Israeli-Egypt cooperation on natural gas, i24news has learned. Representatives of the Italian energy company Eni are expected to arrive in Israel this week and will be meeting with the Israeli Prime Minister and Energy Minister Yuval Steinitz to discuss ideas for joining forces on gas exports to Europe.
The issue was first discussed by Israeli Prime Minister Benjamin Netanyahu and Italian Prime Minister Matteo Renzi in their August 30th meeting in Florence, which took place hours after Cairo announced a historic discovery of a natural gas field off the coast of Egypt.
The enormous discovery, described as the largest ever natural gas resource found in the Mediterranean sea, was considered a significant blow to Israel's own hopes of achieving energy independence by becoming a natural gas export powerhouse. According to a well informed source, Renzi raised the prospect of Israel joining forces with Eni, the Italian energy giant developing Egypt's gas reserves, and connecting subsea fields in Israel to Egypt’s pipeline network, enabling export to Europe.
An Israeli official confirmed Eni representatives will be arriving in Israel this week, though stressed that discussions are only in "very initial stages."
The field discovered by Eni, Zohr, is considered a game changer in the Mediterranean energy play. The field can hold a potential of 30 trillion cubic feet of gas – thirty percent larger than the Israeli Leviathan field which held the title until today. The discovery came amid a serious Israeli delay in production from its own natural gas fields, Tamar and Leviathan, due to political disputes over price export and profits with the companies developing the fields, Delek Drilling and Noble Energy
http://www.i24news.tv/en/news/inter...yptian-italian-natural-gas-export-cooperation